Oglethorpe Power Corp. recently completed an extensive restructuring that transformed the generation and transmission power cooperative into three specialized companies better able to compete in a restructured electric market.
In addition, the company's board of directors has approved a deal that would allow Morgan Stanley Capital Group to supply Oglethorpe Power Co. one-half of its power needs for up to eight years. The deal has been presented to the 39 Electric Membership Corporations (EMCs) for final approval.
Oglethorpe was divided in early March into separate power generation, transmission and system operations companies, each with its own management. Georgia Transmission Corporation will run the transmission portion of the business, not-for-profit Georgia System Operations Corp. will run the operations portion, and Oglethorpe Power will remain as owner and operator of power generation.