ArcLight Energy Marketing LLC, Chief Conemaugh Power LLC, Chief Keystone Power LLC, Panther Creek Power Operating LLC and Westwood Generation LLC filed a notice Jan. 29 at the Federal Energy Regulatory Commission related to the closing of a deal to buy some coal-fired capacity in Pennsylvania.
They filed a notice of non-material change in status. On Dec. 31, 2014, pursuant to the transaction authorized by the commission, Chief Conemaugh acquired from affiliates of Exelon (NYSE: EXC) a 31.28% undivided ownership interest as a tenant-in-common in the coal-fired Conemaugh Electric Generating Station and Chief Keystone acquired a 41.98% undivided ownership interest as a tenant-in-common in the coal-fired Keystone Electric Generating Station, also from Exelon. This change in status does not materially change the facts and circumstances that the commission relied upon in granting market-based rate authority to these companies, the filing said.
These companies are indirect subsidiaries, in whole or in part, of funds managed by ArcLight Capital Partners LLC. The ArcLight Funds are private equity investment funds with a focus on the independent power sector. Chief Conemaugh and Chief Keystone were formed for the purpose of acquiring undivided ownership interests in the two coal plants, which are located in the PJM Interconnection balancing authority area (BAA). Panther Creek and Westwood also own or control generating facilities located in the PJM BAA. AEM is a marketer of electric power and natural gas. AEM currently does not own or operate any electric generation
The Conemaugh Station is a 1,711 MW (summer/winter rating) coal-fired facility located in New Florence, Pa. Chief Conemaugh has rights to approximately 535 MW of energy and capacity from Conemaugh, which it sells into the wholesale market operated by PJM. The Keystone Station is a 1,711 MW (summer/winter rating) coal-fired facility located in Shelocta, Pa. Chief Keystone has rights to approximately 718 MW of energy and capacity from Keystone, which it sells into the wholesale market operated by PJM.