December 30, 2008
American Electric Power Seeks Low-Sulfur Coal Offers
American Electric Power announced today that its American Electric Power Service Corp. (AEPSC) subsidiary is seeking offers for the supply of low-sulfur coal to its Clinch River generating station, a subsidiary of Appalachian Power Co.
December 1, 2008
Return Timeline For AEP’s Cook Nuclear Unit 1 Defined By Repair, Replacement Scenario
American Electric Power continues work to repair Cook Nuclear Plant’s damaged Unit 1 turbine generator. A repair option may allow operation at reduced power, but the rotors will ultimately be replaced to ensure the long-term viability of the unit. The expected return-to-service timeline ranges from the second half of 2009, if repair is successful, to 2010 if the rotors must be replaced before operation.
November 10, 2008
AEP Recognized As Military-Friendly Employer For Sixth Consecutive Year
G.I. Jobs magazine has named American Electric Power (NYSE: AEP) one of the nation’s 50 most “military-friendly” employers for the sixth consecutive year. AEP is among only seven companies that have appeared on the publication’s top-50 list each year since it was introduced in 2003.
November 5, 2008
AEP Announces Live Webcast of CEO´s Remarks at EEI Event
AEP has scheduled a live audio webcast of remarks by Michael G. Morris, AEP chairman, president and chief executive officer, Nov. 11 at the 43rd annual Edison Electric Institute Financial Conference in Phoenix, Ariz.
October 31, 2008
AEP Reports 2008 Third-Quarter Earnings
- 2008 third-quarter earnings $0.93 per share GAAP and ongoing
- Unfavorable weather key factor in decline from prior year
- AEP tightens 2008 ongoing guidance range to between $3.15 and $3.25 per share
October 24, 2008
AEP Schedules Live Webcast Of Quarterly Earnings Call
American Electric Power has scheduled its quarterly earnings conference call with financial analysts for 9 a.m. EDT Friday, Oct. 31. The call will be broadcast live over the Internet at http://www.aep.com/go/webcasts .
October 24, 2008
Cook Unit 1 Return-To-Service Estimate Expected in Late November
Initial inspections and disassembly of the main turbine are complete at American Electric Power’s (NYSE: AEP) Cook Nuclear Plant Unit 1, out of service since Sept. 20 after vibrations, likely caused by a broken low pressure turbine blade, damaged the main turbine. The vibration also caused a hydrogen leak, resulting in a fire in the main generator that caused minimal damage to the facility.
September 23, 2008
Working Mother Magazine Honors AEP For Fourth Time In Seven Years
For the fourth time in seven years, American Electric Power has been named one of the “100 Best Companies for Working Mothers” by Working Mother magazine, a national publication targeting career-committed mothers. AEP is the only central Ohio-based company and the only electric utility on the list, which appears in the magazine’s October edition.
August 1, 2008
SWEPCO, PSO Issue RFP For 2010-2012 Capacity And Energy
American Electric Power (NYSE: AEP) operating subsidiaries Southwestern Electric Power Company (SWEPCO) and Public Service Company of Oklahoma (PSO) have issued a Request for Proposals (RFP) for the purchase of capacity and associated energy that will allow SWEPCO and PSO to satisfy planning reserve requirements of the Southwest Power Pool (SPP) for the 2010-2012 time period.
July 31, 2008
AEP Reports 2008 Second-Quarter Earnings
- 2008 second-quarter earnings $0.70 per share GAAP and ongoing
- Earnings improved over prior period despite milder weather in eastern service territories, impact of flooding on barge operations
- Wholesale activities, utility rate increases key contributors in quarter
- AEP reaffirms 2008 ongoing guidance range of between $3.10 and $3.30 per share
July 22, 2008
AEP names Turner to board of directors
John F. Turner, former Assistant Secretary of State for Oceans and International Environmental and Scientific Affairs (OES) and former head of The Conservation Fund, has been elected to American Electric Power’s (NYSE: AEP) board of directors, according to Michael G. Morris, AEP’s chairman, president and chief executive officer.
June 23, 2008
AEP River Operation grows in Cape Girardeau
AEP River Operations has acquired several assets of the Erlbacher family’s Cape Girardeau-based river businesses – Missouri Barge Line Company and Cape Girardeau Fleeting, Inc.
May 15, 2008
PSO Issues RFP For Long-term Generation Resources
Public Service Company of Oklahoma (PSO), a subsidiary of American Electric Power, has issued a request for proposals (RFP) seeking 450 to 600 megawatts (MW) of new generation resources to meet increases in customer demand for electricity. The new resources are to be available beginning in 2012.
May 15, 2008
PSO files to increase fuel factor, provides notice for rate case
Public Service Company of Oklahoma (PSO), a subsidiary of American Electric Power (NYSE: AEP), today made two separate filings at the Oklahoma Corporation Commission (OCC); the first addressing the company’s need to increase customer charges for fuel costs and purchased power, and the second giving notice of PSO’s plans to file a base rate case.
April 24, 2008
AEP reports first-quarter earnings
- 2008 first-quarter earnings: $1.43 per share GAAP, $1.02 per share ongoing
- Tractebel Energy Marketing settlement increases GAAP earnings for quarter
- Ongoing earnings for quarter aided by approved rate increases, recovery of Oklahoma ice storm costs
- Company reaffirms ongoing earnings guidance range for 2008 of $3.10 to $3.30 per share
April 23, 2008
LPSC approves SWEPCO formula rate plan
American Electric Power (NYSE:AEP) subsidiary Southwestern Electric Power Company (SWEPCO) today announced the Louisiana Public Service Commission’s (LPSC) approval of a formula rate plan for the company’s 176,000 Louisiana customers. The LPSC unanimously approved the plan in its April 16 regular session. Commission approval follows the announcement of an agreement regarding the plan between SWEPCO and the LPSC staff reached last month.
April 23, 2008
AEP Corporate Sustainability Report outlines challenges, performace on key issues
American Electric Power (NYSE: AEP) has released its second Corporate Sustainability Report, addressing issues that affect its ongoing sustainability, including climate change; environmental performance; public policy; energy security, reliability and growth; work force issues; stakeholder engagement and leadership, management and strategy.
April 22, 2008
AEP focused on investment to fuel growth Morris tells shareholders at annual meeting
American Electric Power (NYSE: AEP) entered 2008 with a strong balance sheet, stable credit profile and favorable dividend yield to support investment and growth in the years ahead, Michael G. Morris, AEP chairman, president and chief executive officer, told shareholders attending the company’s annual meeting today in Roanoke, Va.
April 18, 2008
AEP SWEPCO utility isses RFP for renewable energy resources
American Electric Power (NYSE: AEP) subsidiary Southwestern Electric Power Co. (SWEPCO) today issued a request for proposals seeking long-term purchases of 65 megawatts (MW) of new renewable energy resources to be operational by the end of 2010.
April 3, 2008
LPSC Staff, SWEPCO agree on Louisiana formula rate plan
American Electric Power (NYSE:AEP) subsidiary Southwestern Electric Power Company (SWEPCO) today announced an agreement with the Louisiana Public Service Commission (LPSC) staff on a rate plan for the company’s 176,000 Louisiana customers, pending full LPSC approval. The Commission is expected to act on the agreement at its April 16 Open Session.
March 26, 2008
AEP´s Cook Unit 1 refueling begins following record generation
American Electric Power’s (NYSE:AEP) Cook Nuclear Plant Unit 1 was safely shut down early Wednesday to begin a refueling outage. During the just-completed 18-month fuel cycle, Unit 1 operated at 100.7 percent capacity factor, a record for the dual-unit site, and generated 12,532,902 megawatthours of electricity, a record for the unit. The last three 18-month fuel cycles for Unit 1 have been the best ever in terms of generation.
March 25, 2008
AEP SWEPCO Receives Louisiana Commission Approval to Build 600-MW Coal-Fueled Plant
The Louisiana Public Service Commission (LPSC) has approved a request by Southwestern Electric Power Company (SWEPCO), a unit of American Electric Power (NYSE: AEP), to construct a 600-megawatt coal-fueled power plant in Hempstead County in southwest Arkansas. The five-member Commission unanimously approved the request for certification on March 19.
March 14, 2008
AEP responds to Ohio Supreme Court IGCC Decision
American Electric Power (NYSE: AEP) reaffirmed its commitment to Integrated Gasification Combined Cycle (IGCC) generation but indicated that the company will have to wait for clarity about the future of electricity generation in Ohio before it can determine if it can build an IGCC plant in the state.
March 7, 2008
AEP receives approval to build IGCC plant from WV PSC
American Electric Power (NYSE: AEP) operating unit Appalachian Power has received authority from the Public Service Commission of West Virginia (WV PSC) to build a 629-megawatt Integrated Gasification Combined Cycle (IGCC) electric generating plant in West Virginia.
March 3, 2008
AEP transmission venture with Allegheny receives approval for transmission incentives from FERC
American Electric Power (NYSE: AEP) today announced that the Potomac-Appalachian Transmission Highline (PATH), AEP’s transmission joint venture with Allegheny Energy (NYSE: AYE), received approval from the Federal Energy Regulatory Commission (FERC) for transmission incentives to help support construction of the approximately 290-mile, extra-high voltage transmission line from West Virginia into Maryland.
February 22, 2008
AEP sells four inactive plant sites in Texas
American Electric Power (NYSE: AEP) has sold four inactive generating plants owned by its AEP Texas North Generation Company LLC subsidiary to Eagle Construction and Environmental Services, LP.
February 13, 2008
AEP´s CEO to lead exchange about energy´s future with students on six campuses
American Electric Power (NYSE: AEP) will engage university students in a dialogue about energy availability and security and related issues over the next two months. Michael G. Morris, AEP chairman, president and chief executive officer, plans to visit six campuses between Feb. 18 and April 30 as part of “The Future of Energy” University Listening Tour.
January 28, 2008
AEP River Operations purchases or leases B&H Towing assets
AEP MEMCO, LLC, a subsidiary of American Electric Power (NYSE: AEP) and part of its AEP River Operations division, has leased five towboats and purchased related assets from B&H Towing, Inc. and its affiliate, Lay Leasing, Inc. (the “Lay Companies”) of Paducah, Ky. The Lay Companies are privately-held companies that have supplied fully-found towboats to AEP River Operations for 12 years.
January 17, 2008
American Electric Power’s (NYSE: AEP) aggressive program to install emissions-reduction equipment on its existing plants and build new generation facilities has grown to become the largest in the utility industry and second largest in the nation. The company’s construction program was ranked the second largest in the United States and the largest in the utility industry, based on capital invested, in a Nov. 26, 2007 report from Engineering News-Record. Only Alcoa had a larger construction program during the same period. In 2007 alone, AEP completed installation of advanced emissions-control equipment on 3,500 megawatts of coal-fueled generation and started and finished construction of a 340-megawatt gas-fueled power plant.