ELECTRICITY DEMAND IS DOWN - AEP Layoffs Set, PATH Overstepping Market

(04/16/2010)

The market for electricity continues to decline. With the sale of electricity down, American Electric Power is announcing a major reduction in force. Opponents of the behemoth billion dollar-plus PATH project have been claiming the need to generate new electricity in power plants in WV is far overstepping a market need. AEP is reducing about 10% of their workforce. President and CEO, Mike Morris, announced Wednesday a dramatic reduction in sales explaining the need to trim the workforce. The AEP reduction could impact almost 300 West Virginia workers at Appalachian Power with buy-outs.P> If the voluntary buyouts don't work, AEP will look at other options and couldn't rule out the possibility of involuntary layoffs.

Hur Herald ®from Sunny Cal The information on these pages, to the extent the law allows, remains the exclusive property of Bob Weaver and Dianne Weaver The Hur Herald. All information may be freely used but must not be sold or used in any type of commercial endeavor, or used on any web site without the express permission of the owners ©Bob and Dianne Weaver, The Hur Herald, 1999, 2000, 2001