Calpine gets contract to supply Oklahoma utility
HOUSTON (AP) — Calpine Corp. said Wednesday that it reached a deal to supply electric generation capacity and power to American Electric Power Service Corp., as agent for Public Service Co. of Oklahoma, for a 15-year period.
Financial terms were not disclosed.
Under the contract, which Calpine received the contract through a competitive bidding process, Public Service Co. will buy 260 megawatts of capacity, energy and ancillary services.
The Houston-based power company said the capacity will be supplied from June 1, 2016 to May 31, 2031 from Calpine's Oneta Energy Center in Oklahoma. The center is a natural gas-fired power plant capable of generating up to 1,134 megawatts of electricity.
Public Service Co. is an electric utility company that serves more than 530,000 customers in eastern and southwestern Oklahoma.
Calpine shares rose 16 cents to $17.22 in afternoon trading.