Ohio Valley Electric Corporation

What Ohio Valley Electric Corporation does

Ohio Valley Electric Corporation (OVEC) is a privately held, jointly owned electric utility corporation incorporated in Ohio and headquartered in Piketon. Organized on October 1, 1952, by a consortium of investor-owned utilities serving the Ohio River Valley, OVEC was built to meet the large electric power requirements of the Atomic Energy Commission's gaseous diffusion uranium enrichment plant near Portsmouth, Ohio. Today, OVEC and its wholly owned subsidiary Indiana-Kentucky Electric Corporation (IKEC) own and operate two coal-fired generating stations along the Ohio River — Clifty Creek (1,302 MW, six units at 217 MW each in Madison, Indiana) and Kyger Creek (1,085 MW, five units at 217 MW each in Cheshire, Ohio) — for a combined capacity of 2,387 MW. In 2024, the two stations generated approximately 9.9 million MWh of power (5.1 million MWh from Clifty Creek; 4.8 million MWh from Kyger Creek).

The technical core of the business is coal-fired baseload generation with an extensive installed base of environmental control systems: Jet Bubbling Reactor scrubbers (SO2 reduction up to 98%), Selective Catalytic Reduction systems with on-site ammonia production from urea (NOx reduction up to 90%), Overfire Air systems (NOx reduction up to 60%), and electrostatic precipitators (fly ash removal above 99%). These systems were added in discrete capex programs between 1995 and 2013, representing over $2 billion in cumulative environmental investment, of which over $1.6 billion targeted flue-gas emissions.

OVEC's business model is B2B wholesale power supply. Each of the eleven generating units is a 217 MW steam turbine generator set; output is stepped up to 345,000 volts for transmission to serving utilities. Power is allocated to Sponsoring Companies according to fixed sponsorship shares under long-term power supply agreements. Following the end of the Department of Energy supply contract in 2003, all output has flowed to Sponsoring Companies and their end-use customers. The company has no public pricing page, no consumer-facing channel, and operates with 501-1,000 employees, including 236 full-time employees at Clifty Creek and 197 at Kyger Creek. In February 2026, OVEC was awarded $175 million in U.S. Department of Energy funding — part of a broader $525 million federal initiative — to modernize, retrofit, and extend the life of its coal fleet to meet growing electricity demand from AI data centers and other loads.

Name

Ohio Valley Electric Corporation

Legal name

Ohio Valley Electric Corporation

Website

https://ovec.com

Company type

Private

Founded year

1952

Operating status

Operating

Headcount range

501–1,000 employees

Short description

Ohio Valley Electric Corporation (OVEC) is a privately held, jointly owned electric utility that operates two coal-fired generating stations — Clifty Creek (1,302 MW) and Kyger Creek (1,085 MW) — along the Ohio River, supplying wholesale baseload power to investor-owned Sponsoring Companies under long-term power supply agreements.

Ownership category

akta.pro rank

Headquarters

HQ city

Piketon

HQ country

United States

HQ region

North America

Offices3 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Supply Chain, Operations, Infrastructure, Personnel, Technology or R&D

Revenue model

1. Electricity Generation and Sales: OVEC generates electricity through its coal-fired power stations (Clifty Creek 1,302 MW and Kyger Creek 1,085 MW) and sells power to its Sponsoring Companies according to their sponsorship share. Power produced is supplied to sponsoring companies and their customers. The company originally served the Department of Energy's gaseous diffusion plant until the supply agreement ended in 2003.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels1 record

Core offering

Ohio Valley Electric Corporation (OVEC) operates two large coal-fired generating stations—Clifty Creek (1,302 MW) in Madison, Indiana and Kyger Creek (1,085 MW) in Cheshire, Ohio—and sells the resulting wholesale electricity to its Sponsoring Companies (investor-owned utilities in the Ohio River Valley) according to each sponsor's share under long-term power supply agreements. The company also operates the System Office Division in Piketon, Ohio as its corporate headquarters, supporting environmental, safety, financial, and operational functions for the two stations.

Product overview

OVEC-IKEC operates as a coal-fired power generation company with two primary generating stations: Clifty Creek Generating Station (1,302 MW capacity in Madison, Indiana) and Kyger Creek Generating Station (1,085 MW capacity in Cheshire, Ohio), both situated along the Ohio River. The System Office Division in Piketon, Ohio serves as the corporate headquarters. The company was organized on October 1, 1952 to provide electric power for the Atomic Energy Commission's gaseous diffusion plant near Portsmouth, Ohio, and now supplies power to its Sponsoring Companies according to their sponsorship shares.

Differentiator

Problem solved

Functional benefit

Products and services

• Clifty Creek Generating Station A 1,302 MW coal-fired power station located in Madison, Indiana, with six generating units rated at 217 MW each. The station generates wholesale electricity that is supplied to OVEC's Sponsoring Companies (investor-owned utilities in the Ohio River Valley) according to their sponsorship share under long-term power supply agreements.
• Kyger Creek Generating Station A 1,085 MW coal-fired power station located in Cheshire, Ohio, with five generating units rated at 217 MW each. The station generates wholesale electricity that is supplied to OVEC's Sponsoring Companies (investor-owned utilities in the Ohio River Valley) according to their sponsorship share under long-term power supply agreements.

Quantifiable outcome

• 98% reduction in SO2 emissions achieved through JBR scrubbers
• +5 more outcomes

Named customers1 record

Segments1 record

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature5 records

Partnerships

One partnership is on record.

• U.S. Department of EnergycoreStrategic or Co-development Partner · 11 February 2026OVEC is a recipient of $175 million in DOE funding as part of a broader $525 million initiative to modernize, retrofit, and extend the life of coal-fired power plants serving rural and remote communities. The funding supports upgrades to OVEC's generating facilities to maintain reliable and affordable power as electricity demand grows from AI data centers. This advances President Trump's executive orders to restore coal industry policies.

Scale indicators9 records

Recent moves5 records

Expansion highlights3 records

Direct peers

• Vistra Corp: Large independent power producer with one of the largest U.S. coal and gas generation fleets. Directly comparable to OVEC in operating merchant/regulated coal units and selling into wholesale/utility off-take markets.
• Talen Energy Corporation: Independent power producer with coal-fired baseload capacity in the PJM and ERCOT regions. Comparable in that it operates merchant coal generation and sells wholesale power, facing similar commodity and regulatory dynamics as OVEC.
• Constellation Energy Corporation: Largest U.S. operator of carbon-free nuclear capacity but also retains fossil generation. Closely comparable as a large-scale baseload generator with regulated/contracted offtake structures akin to OVEC's sponsorship model.
• NRG Energy: Independent power producer with a sizable fossil generation portfolio across multiple U.S. regions. Comparable as a competitive wholesale power generator with similar customer-mix and dispatch dynamics to OVEC.

Broad incumbents

• American Electric Power: Major investor-owned regulated utility serving the Ohio River Valley region and a likely OVEC Sponsoring Company. Comparable as a large coal-and-gas fleet operator with similar transmission and customer-mix exposure.
• Duke Energy Corporation: One of the largest U.S. investor-owned utilities with significant legacy coal capacity. Comparable as a regulated utility buyer of wholesale baseload power and operator of aging coal units facing similar environmental retrofit mandates.
• AES Corporation: Global power generation and utility company transitioning from coal toward renewables. Comparable as a large-scale IPP/utility hybrid managing coal retirement, emissions retrofits, and long-term off-take contracts.
• Southern Company: Large U.S. investor-owned utility with a meaningful coal generation fleet and active environmental retrofit program. Comparable to OVEC in operating aging coal units under tightening environmental rules and long-term regulated offtake.

Regional players

• FirstEnergy Corp: Ohio-headquartered investor-owned utility and likely OVEC Sponsoring Company. Comparable as a regional electric utility procuring baseload power from OVEC-style IPPs to serve its Ohio/Pennsylvania customers.
• DTE Energy: Michigan-based investor-owned utility with coal-fired generation. Comparable as a regional regulated utility operating coal baseload capacity in the broader Midwest, with similar fuel-supply and emissions-control dynamics to OVEC.

Market position

Strengths4 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/indiana-kentucky-electric-corporation

Revenue estimate

Valuation estimate

Number of profiles

Subsidiaries1 record

Funding overview

Funding rounds1 record

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Ohio Valley Electric Corporation