The Financial Post reports in its Saturday edition that Algonquin Power & Utilities has signed a revised deal that cuts the price it will pay for Kentucky Power Co. and AEP Kentucky Transmission Co. Inc. by $200-million (all figures U.S.). A Canadian Press dispatch to the Post says that under the new agreement, Algonquin will pay $2.64-billion, including the assumption of $1.22-billion in debt. The Canadian power utility had agreed last year to a purchase price of $2.84-billion, including the assumption of $1.22-billion in debt. Algonquin chief executive officer Arun Banskota said the deal will add to the company's regulated footprint in the United States. The transaction remains subject to approval by the U.S. Federal Energy Regulatory Commission. It is expected to close in January if the approval has been received. Algonquin closed Friday at $15.09 (Canadian), down seven Canadian cents on the Toronto Stock Exchange.