PSEG Sells Indiana Plant to AEP

AP via Cleveland.com:

The parent of New Jersey's biggest gas and electric distribution utility plans to take a loss with its sale of a 2 1/2-year-old Indiana electric plant, fueled by increasingly expensive natural gas, to one of the country's largest electricity generators.

Newark-based holding company Public Service Enterprise Group said Tuesday it has agreed to sell the Lawrenceburg Energy Center in Lawrenceburg, Ind., for $325 million to AEP Generating Co., a subsidiary of Columbus, Ohio-based American Electric Power.