RE:Re Kentucky Power acquisition- RBCNow wouldn't the deal falling through be a nice outcome. I hated it and said so from the second it was announced.
I do find it quite funny how so many people talk the big "Green" story right up until it hits their personal pocket-book directly. Also, funny that most people don;t think about what the renewables movement is going to do to our economy and eventually our taxes.
The whole renewables is such a huge joke. I actually think climate change is a total farse but even if it isn't, what Canada does isn't going to change anything with China, India, etc polluting up a storm
Amazing!!
bmbruce wrote: Joint filing from Kentucky parties want FERC to reject the pending Kentucky Power transaction
NYSE: AQN | USD 8.25 | Sector Perform | Price Target USD 8.00
Sentiment: Positive
Our Take
As we previously highlighted, AQN shareholders generally do not want the company to proceed with its pending $2.6 billion Kentucky Power transaction. The recent joint filing reduces the probability that AQN can close the Kentucky Power acquisition by April 26, 2023 (Outside Date), at which point AQN can pay a $65 million termination fee and walk away from the transaction. We believe additional parties in the coming days may make FERC filings that are not supportive of the transaction.
Details
With respect to AQN and AEP's FERC application to approve the pending Kentucky Power transaction, a joint filing from the Kentucky Public Service Commission, the Kentucky Office of the Attorney General, and Kentucky Industrial Utility Customers request that FERC reject the Kentucky Power transaction. The parties claim that the revised application failed to adequately address the adverse impacts of the Kentucky Power transaction on zonal transmission rates.