Updated Thu, Jul 11, 2013 2:11 pm
Ninety-five American Electric Power employees will be affected by the retirement of a 585-megawatt coal fueled plant.
AEP announced today that it will retire its Muskingum River Plant Unit 5 in Beverly, OH.
The decision comes after AEP was given the option to refuel the unit with natural gas or retire it.
The report says retirement was the best option due to the cost of compliance with environmental regulations and current market conditions.
A report says the company will work to provide displaced employees with opportunities to apply for jobs at other AEP facilities.
Employees whose positions are eliminated and who cannot find another position with the company will be considered for severance benefits.
AEP had previously announced a plan to retire over 2,000 mega-watts of coal-fueled generation in Ohio and West Virginia by the end of 2015.
The retirement of the Muskingum River Unit 5 brings AEP Ohio's total number of retirements to over 3,000 megawatts.