2008 News Releases

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 2, 2008

AEP To Pursue Development Of Transmission Superhighway To Transport Renewable Energy Across The Upper Midwest

American Electric Power is evaluating the feasibility of building a multi-state, extra-high voltage transmission project across the Upper Midwest to support the development of renewable energy.


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 9, 2008

AEP Refines 2009 Ongoing Earnings Guidance to Reflect Regulatory, Economic Factors

American Electric Power is refining its ongoing earnings guidance range for 2009, citing the potential earnings impact of a variety of regulatory and economic factors.


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 28, 2008

American Electric Power Declares Quarterly Dividend On Common Stock

The Board of Directors of American Electric Power Co. today declared a regular quarterly cash dividend of 41 cents a share on the company’s common stock.


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

AEP’S Indiana Michigan Power Utility to Deploy New Metering, Efficiency Technologies in South Bend, Ind.

Approximately 10,000 South Bend, Ind. area customers of Indiana Michigan Power (I&M), a utility unit of American Electric Power (NYSE: AEP), will soon participate in a demonstration of new technologies designed to promote service reliability and help customers manage usage and save money.


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.


September 18, 2008

Remarks By AEP’s CEO at Merrill Lynch Conference Sept. 24 to be Webcast

American Electric Power has scheduled a live audio webcast of remarks by Michael G. Morris, AEP chairman, president and chief executive officer, Sept. 24 at the Merrill Lynch Power & Gas Leaders Conference in New York.


August 28, 2008

Remarks By AEP´s CEO At Lehman Brothers Conference To Be Webcast Sept.3

American Electric Power (NYSE: AEP) has scheduled a live audio webcast of remarks by Michael G. Morris, AEP chairman, president and chief executive officer, Sept. 3 at the Lehman Brothers CEO Energy/Power Conference in New York.


August 14, 2008

AEP´s Appalachian Power Subsidiary Signs Long-term Pact To Purchase Wind Energy From Beech Ridge Energy

American Electric Power (NYSE: AEP) subsidiary Appalachian Power Co. has signed a long-term power purchase agreement for renewable wind energy with Beech Ridge Energy LLC, a subsidiary of Invenergy Wind LLC.


August 11, 2008

AEP And Duke To Form Joint Venture To Build Transmission

American Electric Power (NYSE: AEP) has formed a joint venture company with Duke Energy (NYSE: DUK) to build and own new electric transmission assets.


August 6, 2008

Zebula Named Treasurer Of American Electric Power

Charles E. Zebula has been named senior vice president and treasurer of American Electric Power, the company announced today. The change is effective Sept. 1.


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 Ohio Meets Goal Of New Ohio Energy Law By Filing Electric Security Plan Below Market Rates; Continues Lowest Rates In This State
Balanced and progressive plan demonstrates “AEP’s Commitment to Ohio’s Future”

Though faced with the skyrocketing cost of conventional fuels and infrastructure costs to keep the system up and running, AEP Ohio, a unit of American Electric Power (NYSE: AEP), today filed its Electric Security Plan (ESP) with the Public Utility Commission of Ohio (PUCO), a comprehensive plan that invests in the future while holding rate increases to approximately 15 percent annually for the next three years.


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 25, 2008

AEP Schedules Live Webcast Of Quarterly Earnings Call

American Electric Power (NYSE: AEP) has scheduled its quarterly earnings conference call with financial analysts for 10 a.m. EDT Thursday, July 31. The call will be broadcast live over the Internet at http://www.aep.com/go/webcasts.


July 24, 2008

Electric Transmission Texas Joins Consortium To Develop Transmission To Support Texas Wind Initiative

Electric Transmission Texas, LLC, (ETT) has joined with several other Texas transmission providers to form a consortium to jointly develop transmission facilities to enhance wind power development in Texas.


July 23, 2008

American Electric Power Declares Quarterly Dividend On Common Stock

The Board of Directors of American Electric Power Co. (NYSE: AEP) today declared a regular quarterly cash dividend of 41 cents a share on the company’s common stock.


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.


July 15, 2008

AEP´s ETA Transmission venture forms joint venture with OGE to build extra-high voltage transmission in Oklahoma

Electric Transmission America (ETA), a joint venture of American Electric Power (NYSE: AEP) and MidAmerican Energy Holdings, has formed a joint venture company with OGE Energy Corp. (NYSE: OGE) to build and own new electric transmission assets in Oklahoma.


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.


June 11, 2008

AEP names McCellon-Allen EVP-AEP Utilities West to replace Tom Hagan after retirement
Chodak, Patton, Vegas named to new positions by AEP

American Electric Power (NYSE: AEP) has made a series of changes in executive positions, according to Michael G. Morris, AEP’s chairman, president and chief executive officer.


June 2, 2008

AEP selects Munczinski to head shared services organization; Dieck to lead corporate planning and budgeting group

American Electric Power (NYSE:AEP) has named Richard E. Munczinski senior vice president – shared services, according to Michael G. Morris, AEP’s chairman, president and chief executive officer.


May 28, 2008

AEP´s Ohio operating unit issues RFP for renewable energy resources

American Electric Power (NYSE: AEP) operating unit AEP Ohio today issued a request for proposals (RFP) seeking long-term purchases of up to 300 megawatts (MW) of renewable energy resources.


May 28, 2008

Working Mother Magazine honors AEP as one of the best companies for multicultural women

For the third consecutive year, American Electric Power (NYSE: AEP) is on Working Mother magazine’s list of the 20 “best companies for multicultural women.” The list appears in the June edition of the national publication, which targets career-committed mothers.


May 23, 2008

Remarks by AEP´s CFO at Deutsche Bank Conference May 29 to be webcast

American Electric Power (NYSE: AEP) has scheduled a live audio webcast of remarks by Holly Koeppel, AEP executive vice president and chief financial officer, May 29 at the Deutsche Bank 2008 Energy and Utilities Conference in Miami Beach, Fla.


May 19, 2008

AEP’S ETA Transmission venture joins with Westar Energy to build 765-kV transmission in Kansas

Electric Transmission America (ETA), a joint venture of subsidiaries of American Electric Power (NYSE: AEP) and MidAmerican Energy Holdings Co., has formed a joint venture company with Westar Energy Inc. (NYSE: WR) to build and own new electric transmission assets in Kansas.


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.


May 12, 2008

AEP dedicates new transmission operations center
Facility will ensure compliance with reliability mandates and recommendations

American Electric Power (NYSE: AEP) today dedicated a new 83,500-square-foot facility in the Village of New Albany that houses the company’s electricity transmission control operations.


May 9, 2008

Panels Featuring AEP´s CFO At Goldman Sachs Event May 13-14 To Be Webcast

Live webcasts are scheduled of three panel discussions featuring Holly Koeppel, executive vice president and chief financial officer of American Electric Power, at the Goldman Sachs Power and Utility Conference in New York May 13-14.


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

American Electric Power declares quarterly dividend on common stock

The Board of Directors of American Electric Power Co. (NYSE: AEP) today declared a regular quarterly cash dividend of 41 cents a share on the company’s common stock.


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 18, 2008

AEP schedules live webcast of quarterly earnings call

American Electric Power (NYSE: AEP) has scheduled its quarterly earnings conference call with financial analysts for 9 a.m. EDT Thursday, April 24. The call will be broadcast live over the Internet at http://www.aep.com/go/webcasts.


April 16, 2008

AEP Plans Live Webcast Of Annual Meeting Of Shareholders

American Electric Power will provide a live webcast of its annual meeting of shareholders April 22 beginning at 9:30 a.m. EDT. The meeting will be in Roanoke, Va.


April 4, 2008

Remarks by AEP´s CFO April 10 at Midwest Utilities Seminar to be webcast

American Electric Power (NYSE: AEP) has scheduled a live audio webcast of a presentation by Holly Koeppel, AEP executive vice president and chief financial officer, April 10 at the Midwest Utilities Seminar sponsored by Wall Street Access and Berenson & Co.


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.


April 1, 2008

AEP utility Appalachian Power issues RFP for renewable energy resources

American Electric Power (NYSE: AEP) subsidiary Appalachian Power issued a request for proposals today seeking long-term purchases of up to approximately 100 megawatts of new renewable energy resources to be operational by the end of 2010.


March 28, 2008

Remarks by AEP´s CEO April 3 at Morgan Stanley event to be webcast

American Electric Power (NYSE: AEP) has scheduled a live audio webcast of a presentation by Michael G. Morris, AEP chairman, president and chief executive officer, at the Morgan Stanley Global Electricity & Energy Conference in New York April 3.


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 12, 2008

American Electric Power announces internet availability of 2008 Annual Meeting proxy materials
New SEC Notice and Access rule will help further company’s sustainability efforts

American Electric Power Co. (NYSE: AEP) announced today that proxy materials for its 2008 Annual Meeting of Shareholders are available through the Internet under the Securities and Exchange Commission’s (SEC) new Notice and Access rule.


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 20, 2008

AEP named one of ´100 best corporate citizens´ by Corporate Responsibility Officer magazine

American Electric Power (NYSE: AEP) has been named one of the “100 best corporate citizens” for 2008 by CRO (Corporate Responsibility Officer) magazine.


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.


February 6, 2008

AEP names Mark McCullough to head Fossil and Hydro Generation

Mark C. McCullough has been named senior vice president, Fossil and Hydro Generation for American Electric Power (NYSE: AEP). He has been AEP’s vice president, Fossil and Hydro Generation – Baseload Assets since 2003.


January 31, 2008

Remarks by AEP´s CFO at Credit Suisse Energy Summit to be webast

American Electric Power (NYSE: AEP) has scheduled a live audio webcast of a presentation by Holly Koeppel, AEP’s executive vice president and chief financial officer, at the Credit Suisse Energy Summit in Vail, Colo., Feb. 5.


January 29, 2008

AEP earnings increase for fourth quarter, year; company hikes 2008 ongoing earnings guidance range

  • 2007 fourth-quarter earnings: $0.58 per share GAAP, $0.52 per share ongoing
  • 2007 full-year earnings: $2.73 per share GAAP, $3.00 per share ongoing
  • New rates for utilities in five states, favorable weather, marketing successes increase ongoing earnings for the quarter and year
  • Company increases ongoing earnings guidance for 2008 to between $3.10 and $3.30 per share


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 23, 2008

American Electric Power declares quarterly dividend on common stock

The Board of Directors of American Electric Power Co. (NYSE: AEP) today declared a regular quarterly cash dividend of 41 cents a share on the company’s common stock.


January 23, 2008

AEP schedules live webcast of quarterly earnings call

American Electric Power (NYSE: AEP) has scheduled its quarterly earnings conference call with financial analysts for 9 a.m. EST Tuesday, Jan. 29. The call will be broadcast live over the Internet at http://www.aep.com/go/webcasts.


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.


January 9, 2008

AEP earns industry awards for emergency assistance, power restoration

American Electric Power (NYSE: AEP) has earned the industry’s top honors for assisting other utilities during emergencies and for restoration of power after extensive storm-related outages during 2007.