| | Investor's Business Daily: Breaking News |
 | | COLUMBUS, Ohio, April 18, 2007 /PRNewswire-FirstCall via COMTEX/ -- American Electric Power (AEP) has signed a memorandum of understanding (MOU) with Allegheny Energy Inc. (AYE) to form a joint venture company to build and own new electric transmission assets within PJM Interconnection (PJM). |
 | | Under the terms of the MOU, AEP and Allegheny will build 765-kilovolt (kV) transmission lines and related facilities to link AEP's Amos Station (near St. Albans, W.Va.) with Allegheny's proposed Kemptown Station in Maryland. |
 | | The joint venture agreement does not include any provisions for the remaining portion of AEP's I-765(TM) Interstate Project proposal from Allegheny's Kemptown Station into New Jersey, which remains under study by PJM. |
| investors.com /breakingnews.asp?journalid=52186599 (1455 words) |