OG&E completes purchase of power plant


Friday, July 9th 2004, 3:50 pm
By: News On 6


(Oklahoma City-AP) -- O-G-and-E Electric Services today has
completed its purchase of a 520-megawatt power plant in Newcastle.
The utility subsidiary of O-G-E Energy Corporation is paying 160
(m) million dollars to N-R-G McClain for a 77 percent interest in
the plant.
The Oklahoma Municipal Power Authority owns the remaining 23
percent.
With the purchase, O-G-and-E has nine power plants with a total
generating capacity of 61-hundred megawatts.
O-G-and-E says it expects to deliver at least 75 (m) million
dollars in savings to retail electric customers over a
three-year-period because of the plant's efficenty. The plant uses
two generating turbines fueled by natural gas.