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American Municipal Power, Inc. Investor Relations
Marcy Steckman, Chief Financial Officer
About
Learn about American Municipal Power, Inc. Investor Relations, including Featured News, Projects, and The Team.
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- 2018 Annual Revenue
- $1.28 Billion
- Bond Ratings
- A1
Source
- Total Bonds Outstanding 12/31/2019
- $5,033,831,471
Why Buy American Municipal Power, Inc. Project Debt
Member Strength and Diversity
- 135 Members in 9 States
- Members are Economically Diverse
- Membership Continues to Grow
- Essential Provider of Technical Expertise to its Members
Strength of Contracts
- Strong “take or pay” Contracts, With a 25% Step-up provision
- AMP Project Debt Service is an Operating Expense of the Members
- Court Validated Contracts
Projects
- 5 Large and Diverse Generation Projects
- Members Subscribe to Projects of their Choice
- No Cross Subsidies or Cross Defaults
- Strong and Improving Operating performance at All Projects
Financial Metrics
- Rates are Set to Cover Annual Debt Service at 1.1x on All Projects
- AMP Actively Monitors the Credit of Their Members
- Liquidity, $600 Million Line of Credit, the Ability to Expand to $850 Million
Experienced Management Team
- Experienced and Financial Conservative Management Team with a Deep Bench
- 3-year Strategic Planning Cycle and 5-year Financial Planning Cycle
- Equity Ownership Interest in TEA (The Energy Authority) for Resource and Risk Management
- Strong Support from their Membership
- Committed to Responsible Sustainability and Corporate Governance Policies
About American Municipal Power, Inc.
American Municipal Power, Inc. (AMP) is the nonprofit wholesale power supplier and services provider for 135 members, including 134 member municipal electric systems in Ohio, Pennsylvania, Michigan, Virginia, Kentucky, West Virginia, Indiana and Maryland; as well as the Delaware Municipal Electric Corporation, a joint action agency with nine members headquartered in Smyrna, Delaware. Combined, these member utilities serve more than 650,000 customers.
Formed in 1971, AMP is headquartered in Columbus, Ohio with approximately 170 full-time employees at headquarters and generating facilities.
The organization is governed by a Board of Trustees that consists of 21 AMP members - 20 elected by the members or subgroups of members and AMP member Delaware Municipal Electric Corporation (DEMEC), on behalf of its nine member systems. Each such elected member then appoints a person to represent it on the Board.
Featured News
August 6, 2019
News
AMP Receives Auditor of State Award
A recent financial audit of the Ohio Municipal Electric Generation Agency Joint Ventures (OMEGA JV) 1, 2, 4, 5 and 6, as well as of the Municipal Energy Services Agency (MESA) by the Auditor of State’s office has returned a clean audit report. American Municipal Power’s (AMP) excellent record keeping has earned the Auditor of State Award for the joint ventures and MESA.
News
AMP Receives Auditor of State Award
May 31, 2018
A recent financial audit of the Ohio Municipal Electric Generation Agency Joint Ventures (OMEGA JV) 1, 2, 4, 5 and 6, as well as of the Municipal Energy Services Agency (MESA) by the Auditor of State’s office has returned a clean audit report. American Municipal Power’s (AMP) excellent record keeping has earned the Auditor of State Award for the joint ventures and MESA.
Projects
Smithland Hydro Plant
The Smithland Hydroelectric Project is a 76 MW run-of-the-river hydroelectric power plant providing renewable generation to the region. The plant is located near Smithland, Kentucky.
The Smithland Project diverts water from the existing U.S. Army Corps Smithland Locks and Dam through bulb turbines anticipated to generate an average annual output of approximately 379 million kilowatt-hours (kWh). The site includes an intake approach channel, a reinforced concrete powerhouse and a tailrace channel. The powerhouse houses three horizontal bulb-type turbine and generating units with an estimated total rated capacity of 76 MW. A 2-mile-long 161 kV transmission line interconnection connects the plant to MISO.
Smithland is located approximately 62 river miles upstream of the confluence of the Ohio and Mississippi rivers, in Livingston County, Ky. The Smithland hydroelectric plant is on the Kentucky side of the Ohio River, on the opposite shore of the locks.
The plant reached full commercial operation in September, 2017.
Meldahl Hydro Plant
The Meldahl Hydroelectric Project is a 105 MW run-of-the-river hydroelectric power plant providing renewable generation to the region. The facility is the largest hydroelectric power plant on the Ohio River.
The Meldahl Project diverts water from the existing U.S. Army Corps of Engineers’ Meldahl Locks and Dam through bulb turbines anticipated to generate an average annual output of approximately 558 million kilowatt-hours (kWh). The site includes an intake approach channel, a reinforced concrete powerhouse and a tailrace channel. The powerhouse contains three horizontal bulb-type turbine and generating units with a total rated capacity of 105 MW.
The Captain Anthony Meldahl Locks and Dam are located near Maysville, Kentucky, approximately an hour southeast of Cincinnati. The Meldahl hydroelectric plant is on the Kentucky side of the Ohio River, on the opposite shore of the locks.
The plant reached full commercial operation in April 2016.
Cannelton Hydro Plant
The Cannelton Hydroelectric Project is an 88 MW run-of-the-river hydroelectric power plant providing renewable generation to the region. The facility is located on the Ohio River near Hawesville, Kentucky.
The Cannelton Project diverts water from the existing U.S. Army Corps of Engineers Cannelton Locks and Dam through bulb turbines anticipated to generate an average annual output of approximately 458 million kilowatt-hours (kWh). The site includes an intake approach channel, a reinforced concrete powerhouse and a tailrace channel. The powerhouse contains three horizontal bulb-type turbine and generating units with a total rated capacity of 88 MW.
The Cannelton Locks and Dam are located near Hawesville, Kentucky. The Cannelton hydroelectric plant is on the Kentucky side of the Ohio River, on the opposite shore of the locks.
The plant reached full commercial operation in June 2016.
Greenup Hydro Facility
The Greenup Hydroelectric Facility is a 70.2 MW power plant located near Portsmouth, Ohio. In connection with the development of the Meldahl Project, Hamilton agreed to sell and AMP agreed to purchase a 48.6 percent undivided ownership interest in the Greenup Hydroelectric Facility. Hamilton retains title to a 51.4 percent ownership interest in the Greenup Hydroelectric Facility. Forty-seven AMP member communities are participating in the project.
The Team
