CLAY, W.Va – Black Diamond Power and Appalachian Power Company are in agreement on a timeline to transfer BDP’s assets to APCo.
In a filing with the state Public Service Commission on Friday, Appalachian Power detailed a series of deadlines that will ultimately end with its acquisition of Black Diamond next year. The PSC ordered APCo and BDP to set a schedule following a hearing on September 21.
The two utilities entered purchase negotiations earlier this year at PSC’s urging following a general investigation into Black Diamond’s operations.
Under the agreed-upon schedule, APCo will continue its due diligence process into next month and submit a draft Asset Purchase Agreement to Black Diamond by December 18. BDP will have one month to provide comments on the APA with intentions to finalize the agreement by February 19, 2027.
In turn, a joint petition would be filed with the PSC by March 1, 2027 to approve APCo’s acquisition of BDP. The commission’s approval is sought by May 31, 2027, with the APA to be closed within 60-90 days afterward.
The filing indicates that any of the listed dates are subject to change depending on multiple factors, including APCo’s receipt of information and the availability of both parties for due diligence.