Press release 📈 Stocks 🌍 United States

Kentucky Power Files Plans for 1 GW Data Campus to Deliver $600M in Benefits

Kentucky Power seeks regulatory approval for infrastructure to support TeraWulf's 1-gigawatt data campus, aiming to secure $600 million in total customer benefits through rate offsets and bill credits.

📅 November 13, 2026 🕐 1 min read

2 assets impacted (Stocks). Net bias: 2 Bullish, 0 Bearish, 0 Neutral. Strongest signal: AEP ↑ 4/10 (60% confidence).

📊 Affected Assets (2)

AEP

Bullish 🤖 60%

📆 Mid-term 🌍 US · Explicit

Kentucky Power filed plans with the Kentucky PSC tied to TeraWulf's planned 1-gigawatt Muskie Data Campus, which is expected to deliver more than $500 million in fixed-cost rate offsets plus $100 million in winter bill credits for customers. The large contracted load and cost protections support the utility's growth outlook, but the filings only begin regulatory review, with decisions possibly not until mid-2027.

Catalysts

▲ Filing with Kentucky PSC on Nov. 13, 2026 for new generation and transmission to serve TeraWulf's data campus
▲ Expected $500 million in fixed-cost rate offsets and $100 million in winter bill credits over the contract life

Risk Factors

▼ All approvals are subject to PSC review, with separate Certificates of Public Convenience and Necessity still required
▼ The 1 GW of demand is phased only by 2029 and depends on regulatory approval and construction schedules

WULF

Bullish 🤖 60%

📆 Mid-term 🌍 US · Explicit

The filings are the next regulatory step for the utility infrastructure supporting TeraWulf's planned Muskie Data Campus in Grayson, Kentucky, expected to support up to 1 gigawatt of contracted electric demand in phases by 2029. Advancing toward approval keeps the project on track, though PSC decisions may not come until mid-2027 and TeraWulf has committed to fund $100 million in customer bill credits plus construction financing costs.

Catalysts

▲ Regulatory filings submitted Nov. 13, 2026 to support power infrastructure for the Muskie Data Campus
▲ Up to 1 gigawatt of contracted electric demand phased in by 2029

Risk Factors

▼ Project remains subject to regulatory approval and construction schedules
▼ TeraWulf must pay estimated financing costs of the proposed 760-MW generation facility and provide financial backing under the large-load tariff

🧭 Full analysis of these assets

🎯 Key Takeaways

Kentucky Power filed for a 760-MW natural gas facility and new transmission infrastructure to serve TeraWulf's 1-gigawatt Muskie Data Campus.
The agreement is expected to provide $500 million in fixed-cost rate offsets and $100 million in residential winter bill credits starting in 2029.
TeraWulf is required to pay estimated financing costs for the new generation facility and provide financial backing under the large-load tariff.
Regulatory decisions on the required Certificates of Public Convenience and Necessity could be reached by mid-year 2027.

📝 Executive Summary

Kentucky Power, a subsidiary of American Electric Power, has filed plans with the Kentucky Public Service Commission to support TeraWulf's 1-gigawatt Muskie Data Campus. The proposal includes building a 760-MW natural gas facility and a new transmission substation, with the project expected to provide $500 million in rate offsets and $100 million in residential winter bill credits.

❓ FAQ

AEP · What did Kentucky Power file for?

Plans with the Kentucky Public Service Commission to build a 760-MW combined-cycle natural gas facility at Big Sandy in Louisa and a new transmission substation near EastPark Industrial Park, to serve TeraWulf's planned Muskie Data Campus.

AEP · When will customers see benefits?

If approved, TeraWulf will fund $100 million in winter bill credits for residential customers beginning in 2029, over the first 10 years of the contract.

WULF · How does this filing affect TeraWulf's data center project?

Kentucky Power's filings with the Kentucky PSC seek approval for the generation and transmission infrastructure needed to serve TeraWulf's planned Muskie Data Campus, moving the project into the next phase of regulatory review.

WULF · Is the project approved yet?

No. The filings begin the review phase, and decisions on the separate Certificates of Public Convenience and Necessity could come as early as mid-2027.

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