News in brief

PSC backs utility's

wind-energy project

The Arkansas Public Service Commission ruled Tuesday that Southwestern Electric Power Co.'s purchase of the $4.5 billion Wind Catcher Energy Connection Project is in the public interest.

The decision approves provisions of a settlement reached in February by the commission's general staff, the state attorney general's office, SWEPCO, Walmart Stores Inc. and Sam's West Inc.

The 2,000-megawatt Wind Catcher wind farm in the Oklahoma panhandle will supply electricity to SWEPCO customers in Arkansas, Louisiana, Oklahoma and Texas as well as customers of American Electric Power, SWEPCO's parent company.

The project includes the wind farm and a 350-mile power line from the field to the Tulsa area. SWEPCO will own 70 percent of the project.

SWEPCO anticipates the project will save its customers more than $4 billion over the 25-year life of the wind farm.

-- David Smith

Walmart, Uber plan

to end partnership

The two-year partnership between Walmart Inc. and Uber Technologies Inc. to deliver groceries in four markets is ending.

Walmart spokesman Molly Blakeman on Tuesday confirmed the end of the arrangement and said the final deliveries using the ride-hailing service in Dallas, Phoenix and the Florida cities of Orlando and Tampa will take place later this summer. Grocery deliveries in those markets will be shifted to one of Walmart's other partners, which include Postmates, Deliv and DoorDash.

"Customers shouldn't notice any difference as the transition takes place," Blakeman said.

The relationship is wrapping up as part of Uber's decision to shut down UberRUSH, its on-demand delivery service, on June 30.

Walmart first announced the grocery delivery test with Uber during shareholders week in 2016. Blakeman said the end of the partnership will not affect the retailer's grocery delivery expansion.

The company still plans to roll out its grocery delivery service to about 100 metro areas this year.

-- Robbie Neiswanger

State index picks up

2.59; 10 stocks rise

The Arkansas Index, a price-weighted index that tracks the largest public companies based in the state, rose 2.59 to 403.52 Tuesday.

Ten stocks advanced, five declined and one was unchanged.

P.A.M. Transportation climbed 6.3 percent on triple its average volume.

Windstream fell 4.9 percent in average trading.

Total volume for the index was 22.4 million shares.

The index was developed by Bloomberg News and the Democrat-Gazette with a base value of 100 as of Dec. 30, 1997.

Business on 05/09/2018

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