American Electric Power (AEP) began receiving spot steam coal in the fourth quarter of 2018 as a result of a swift turnaround of a November 1 formal solicitation to buy some spot this year and up to 1.25 million tons per year (tpy) of term coal for up to three years, or up to 3.75 million tons, beginning in 2019.
The Columbus, Ohio-based company confirmed in November it purchased an unspecified amount of spot coal for late this year but expected shipments of term coal to arrive at its power plants after the first of the year, according to a company spokesman. AEP declined to identify the winning bidder(s) or disclose the amount of coal it is buying and the price it is paying for the coal.
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