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December 22, 2003
A leak Friday evening in a filter for a system that supplies water to the reactor coolant pump seals at American Electric Power´s (NYSE: AEP) Cook Nuclear Plant Unit 2 resulted in a brief entry into the plant´s emergency plan. An unusual event, the lowest classification level, was declared for about 90 minutes until the filter was bypassed and the leak isolated.
December 16, 2003
American Electric Power’s (NYSE: AEP) Board of Directors has elected Michael G. Morris to succeed E. Linn Draper Jr. as president and chief executive officer effective Jan. 1, 2004. Morris will also succeed Draper as AEP chairman upon Draper’s retirement from that position on or before April 27, 2004.
December 1, 2003
American Electric Power’s (NYSE:AEP) Cook Nuclear Plant Unit 1 returned to service Nov. 26 after a 39-day refueling outage.
November 24, 2003
Houston Pipe Line Co. and AEP Energy Services Gas Holding Co., affiliates of American Electric Power (NYSE: AEP), filed suit Nov. 21 in the Enron bankruptcy proceeding pending in United States Bankruptcy Court for the Southern District of New York. The suit was filed against Enron and Bank of America regarding the Bammel storage related assets.
November 19, 2003
American Electric Power (NYSE: AEP) officials said the report on the Aug. 14 blackout released today by the U.S./Canada Power Outage Task Force provides a comprehensive, in-depth, independent analysis of the events of Aug. 14. “Although we are still reviewing the report, we believe it is representative of the events that occurred Aug. 14 and offers a very thorough evaluation of what occurred that day. We applaud the efforts of the members of the task force and their painstaking efforts to analyze the voluminous data collected,” said Tom Shockley, AEP’s vice chairman and chief operating officer.
November 13, 2003
American Electric Power (NYSE: AEP) announced today that PAR Electrical Contractors Inc., a Quanta Services company (NYSE: PWR), has been chosen to construct the transmission towers and string conductor for the 90-mile Wyoming-Jacksons Ferry 765,000-volt (765-kV) transmission project.
November 12, 2003
American Electric Power (NYSE: AEP) has scheduled a live webcast of a presentation by Susan Tomasky, executive vice president - policy, finance and strategic planning and chief financial officer, on Monday at the Banc of America Securities Energy and Power Conference in Las Vegas.
November 12, 2003
American Electric Power (NYSE: AEP) today joined Climate Leaders, the U.S. Environmental Protection Agency’s voluntary government/industry partnership to address climate change. AEP’s previously announced voluntary commitment to reduce or offset its greenhouse gas emissions 4 percent by 2006 will serve as the company’s initial Climate Leaders’ reduction goal. The company will work with U.S. EPA and the Chicago Climate Exchange (CCX) on a post-2006 emissions control commitment.
November 4, 2003
AEP Texas Central Company (TCC), a subsidiary of American Electric Power (NYSE: AEP), has filed a request with the Public Utility Commission of Texas (PUCT) to increase the transmission and distribution rates charged to Retail Electric Providers. The proposed rate changes will increase TCC’s revenues by approximately $66.5 million, or 14.7 percent.
November 3, 2003
American Electric Power (NYSE: AEP) applied to the U.S. Nuclear Regulatory Commission (NRC) today to renew operating licenses of AEP’s Cook Nuclear Plant. The application, consisting of over 1,400 pages of documentation and associated technical analysis, supports that Cook Unit 1 and Unit 2 can be safely operated until 2034 and 2037 respectively.
October 23, 2003
COLUMBUS, Ohio, Oct. 23, 2003 - American Electric Power (NYSE: AEP) today reported 2003 third-quarter ongoing earnings of $0.76 per share, down from $1.21 a share for the same period last year. Reduced electricity demand caused by the second consecutive quarter of unfavorable weather, losses by gas and UK investments and dilution from additional shares outstanding decreased earnings per share for the quarter.
October 22, 2003
Ohio Power Co., a wholly owned operating subsidiary of American Electric Power (NYSE: AEP), Wednesday announced that on Nov. 25, 2003, it will redeem the entire outstanding $12,000,000 principal amount of its First Mortgage Bonds, Designated Secured Medium-Term Notes, 7.10% Series due Nov. 1, 2023.
October 22, 2003
The Board of Directors of American Electric Power Co. (NYSE: AEP) today declared a regular quarterly cash dividend of 35 cents a share on the company’s common stock. The dividend is payable Dec. 10, 2003, to shareholders of record as of Nov. 10, 2003, and is the company’s 374th consecutive quarterly common stock cash dividend.
October 21, 2003
Joseph N. Jensen has been named site vice president responsible for American Electric Power’s (NYSE: AEP) Cook Nuclear Plant. The site vice president is responsible for plant operations and maintenance and reports to Mano K. Nazar, senior vice president and chief nuclear officer.
October 16, 2003
American Electric Power’s quarterly earnings conference call with financial analysts will be broadcast live over the Internet at 9:30 a.m. EDT Thursday, Oct. 23. Audio will be available at http://www.firstcallevents.com/ or http://www.aep.com/go/webcasts. The call will be archived on http://www.aep.com for use by those unable to listen during the live webcast.
October 14, 2003
The e7, an international group of leading energy companies, has finalized plans to construct a micro-hydro power plant to bring electricity for the first time to Chendebji, a small, remote village high in the Himalayan Mountains. Construction on the 70-kilowatt project is scheduled to begin in Bhutan in November.
October 1, 2003
American Electric Power (NYSE: AEP) has learned that the Commodity Futures Trading Commission (CFTC) has filed a civil action against the company in the United States District Court for the Southern District of Ohio. AEP has not been served with a copy of the complaint, which was filed late yesterday, but believes that it is based on claims related to the submitting of natural gas trading information to certain trade publications by gas traders no longer employed by AEP.
October 1, 2003
Southwestern Electric Power Company, a wholly owned operating subsidiary of American Electric Power (NYSE: AEP), announced Sept. 30 that on Oct. 31, 2003, its trust subsidiary, SWEPCO Capital I, will redeem all of its outstanding 7.875% Trust Preferred Securities, Series A, (CUSIP No. 870695202) at the redemption price of $25 per preferred security, plus accrued and unpaid distributions of $0.169531 per preferred security.
September 26, 2003
Issues blocking participation by American Electric Power (NYSE: AEP) in a regional transmission organization must be resolved through compromise by federal and state regulators, AEP officials said today. AEP offered a compromise as a starting point for discussions among regulators in an attempt to advance the debate on its plan to join PJM Interconnect, a regional transmission organization (RTO). AEP officials were among those testifying today on the first day of a two-day inquiry into Midwest regional transmission issues ordered by the Federal Energy Regulatory Commission (FERC).
September 24, 2003
Public Service Company of Oklahoma, a wholly owned operating subsidiary of American Electric Power (NYSE: AEP), Tuesday announced that on Oct. 27 it will redeem the entire outstanding $100,000,000 principal amount of its First Mortgage Bonds, Series V, 7-3/8% Series due April 1, 2023.
September 19, 2003
American Electric Power Co., Inc., today announced that AEP Texas North Co. (the “Issuer”) has extended the expiration date of its offer to exchange all of its outstanding 5.50% Senior Notes, Series A due 2013 (the “Outstanding Notes”) for the Issuer’s 5.50% Senior Notes, Series B due 2013 (the “Exchange Notes”), which has been registered under the Securities Act of 1933, as amended.
September 18, 2003
American Electric Power (NYSE: AEP) has scheduled a live webcast of Thursday’s briefing by E. Linn Draper Jr., AEP’s chairman, president and chief executive officer, at the Merrill Lynch Power & Gas Leaders Conference in New York. Draper’s briefing on the company´s strategy and operations will be part of a panel presentation scheduled for 9:15 a.m. - 10:45 a.m. EDT Thursday. The live webcast of the panel discussion can be accessed through the Internet at http://www.aep.com/go/webcast.
September 8, 2003
Geoff Chatas, senior vice president - finance and treasurer for American Electric Power (NYSE: AEP), is leaving the company to accept a similar position with Progress Energy. In a related organizational change, AEP will consolidate its finance and treasury departments with other financial functions currently reporting to Stephen Smith, AEP senior vice president - corporate accounting, planning and strategy.
September 4, 2003
Regulatory certainty for transmission siting and cost recovery is needed if America’s electrical grid is to be improved, the head of one of the nation’s largest utilities told the House Committee on Energy and Commerce in testimony today. E. Linn Draper Jr., chairman, president and chief executive officer of American Electric Power (NYSE: AEP), also told the committee that communications between transmission grid operators must be improved and that the U.S. needs to resolve the continuing debate about regional transmission organizations.
September 3, 2003
American Electric Power (NYSE: AEP) has scheduled a live webcast of today’s presentation by Henry Fayne, AEP’s executive vice president - energy delivery, at the Lehman Brothers 17th Annual CEO Energy/Power Conference in New York. Fayne’s presentation to an audience of industry analysts is scheduled to begin at 11:20 a.m. and can be accessed through the Internet at http://www.aep.com/go/webcast.
August 28, 2003
Southwestern Electric Power Co., a wholly owned operating subsidiary of American Electric Power (NYSE: AEP), today announced that on Oct. 1, 2003, it will redeem the entire outstanding $45,000,000 principal amount of its First Mortgage Bonds, Series Z, 7-1/4% Series due July 1, 2023.
August 28, 2003
Ohio Power Co., a wholly owned operating subsidiary of American Electric Power (NYSE: AEP), today announced that on Oct. 1, 2003, it will redeem the entire outstanding $5,000,000 principal amount of its First Mortgage Bonds, Designated Secured Medium-Term Notes, 7.75% Series due April 1, 2023, and the entire outstanding $20,250,000 principal amount of its First Mortgage Bonds, Designated Secured Medium-Term Notes, 7.375% Series due Oct. 1, 2023.
August 26, 2003
American Electric Power (NYSE: AEP) has named Mano K. Nazar senior vice president and chief nuclear officer, effective Oct. 1, 2003.
August 22, 2003
A story in today´s Wall Street Journal about Ohio distribution maintenance practices by American Electric Power (NYSE: AEP) is based on preliminary, internal working documents from a Public Utilities Commission of Ohio (PUCO) staff review that had yet to be verified and agreed to by AEP. The document is not based on a PUCO sanctioned report or commission action.
August 22, 2003
American Electric Power (NYSE: AEP) today released a timeline of events and conditions detected by automated controls on its transmission grid Aug. 14 when massive amounts of power were drawn north from AEP´s grid to loads in the vicinity of Lake Erie immediately prior to the blackout that affected all or parts of eight states and eastern Canada.
August 12, 2003
A. Christopher “Chris” Bakken III, American Electric Power’s (NYSE: AEP) senior vice president and chief nuclear officer, today announced his resignation to return to PSEG Power. Bakken has been responsible for oversight of AEP’s Cook Nuclear Plant in Bridgman, Mich., and AEP’s 25-percent ownership of the South Texas Project Electric Generating Station in Bay City, Texas, since October 2001.
August 8, 2003
John D. Harper has been named vice president - general services for American Electric Power (NYSE: AEP). He is responsible for property and facilities management and office and fleet services for the company.
August 7, 2003
The American Society of Mechanical Engineers (ASME International) today designated American Electric Power’s (NYSE: AEP) former Philo Unit 6 a Historic Mechanical Engineering Landmark for the unit’s groundbreaking and far-reaching technological advances.
July 30, 2003
COLUMBUS, Ohio, July 30, 2003 - American Electric Power (NYSE: AEP) today reported 2003 second-quarter ongoing earnings of $0.44 per share and remains on target to meet its earnings guidance for 2003 despite unfavorable weather that reduced electricity demand. Ongoing earnings for second-quarter 2002 were $0.56 per share.
July 28, 2003
American Electric Power (NYSE: AEP) will replace both reactor vessel heads at Cook Nuclear Plant. The $44 million project was approved by the AEP Board of Directors at its July meeting.
July 23, 2003
The Board of Directors of American Electric Power Co. (NYSE: AEP) today declared a regular quarterly cash dividend of 35 cents a share on the company’s common stock.
July 23, 2003
American Electric Power’s quarterly earnings conference call with financial analysts will be broadcast live over the Internet at 9:30 a.m. EDT Wednesday, July 30.
July 21, 2003
The American Electric Power (NYSE: AEP) headquarters building at One Riverside Plaza in Columbus is about to look a whole lot different after dark. To celebrate the Cirque du Soleil® performances of Dralion(TM) that begin this week in the Arena District, AEP will light the northwest face of its headquarters building in shades of yellow and blue - the same colors as Cirque du Soleil’s Grand Chapiteau (“big top”). AEP is the presenting sponsor for the Columbus debut of Dralion, which runs from July 24 through Aug. 17.
July 2, 2003
Joseph Hamrock has been named senior vice president and chief information officer for American Electric Power (NYSE: AEP). He had served as AEP’s senior vice president - general services since 2002. Hamrock, 40, will oversee the company’s information technology (IT) efforts.
June 13, 2003
American Electric Power (NYSE: AEP) has taken appropriate actions to ensure that energy-trading data is accurately reported for use in trade media indexes, the company said today in a response to a Federal Energy Regulatory Commission (FERC) order.
June 13, 2003
Melinda S. Ackerman, senior vice president - human resources for American Electric Power (NYSE: AEP), has accepted an invitation to serve on the U.S. Chamber of Commerce Employee Benefits Committee. The committee is the main policy-originating body for the U.S. Chamber in the areas of health care, pension and retirement plans and other employer-provided benefits, as well as public programs such as Social Security and Medicare. It also formulates the underlying policy that determines the chamber’s response to employee benefit legislation pending before Congress. Ackerman will serve on the committee’s Health Care and Retirement Plans subcommittees.
June 11, 2003
American Electric Power (NYSE: AEP) is soliciting bids for the purchase of all the generating assets of its AEP Texas Central Co. subsidiary (formerly know as Central Power and Light).
June 10, 2003
American Electric Power (NYSE: AEP) has scheduled a live webcast of Wednesday’s presentation by E. Linn Draper Jr., AEP’s chairman, president and chief executive officer, at the Deutsche Bank Conference in New York. Draper’s presentation to an audience of industry analysts is scheduled to begin at 8:45 a.m. Eastern time Wednesday and can be accessed through the Internet.
June 3, 2003
The arrest today of an employee in American Electric Power´s commercial operations is not related to actions during his 15 months with AEP.
May 30, 2003
American Electric Power (NYSE: AEP) has named Coulter R. (Dick) Boyle to the new position of senior vice president - commercial business services and Laura J. Thomas to the post of vice president - fuel and cost recovery. Boyle had been vice president - regulatory services for AEP since 1999 and Thomas had served as director - regulated pricing and analysis since 1996.
May 28, 2003
American Electric Power’s (NYSE:AEP) Cook Nuclear Plant Unit 1 returned to service today while Unit 2 remains in a 35-day refueling outage that began on May 5. Both Cook units were taken off-line on April 24 because of an influx of fish in the plant’s cooling water system.
May 28, 2003
Appalachian Power Co. will redeem all the outstanding principal amount of its 7.20% Senior Notes, Series A, due 2038, and its 7.30% Senior Notes, Series B, due 2038, on June 30, 2003, at 100% of the principal amount outstanding. Interest payable on June 30, 2003, will be paid in the usual manner.
May 27, 2003
American Electric Power (NYSE: AEP) Dallas employee Richard P. (Rick) Walker, director of business development for AEP Wind Energy, LLC, received the American Wind Energy Association’s (AWEA) Outstanding Contribution to the Wind Industry award during the organization’s WINDPOWER 2003 conference in Austin, Texas. Walker was honored for “selflessly contributing his time, energy and capability in support of the wind energy industry.”
May 23, 2003
American Electric Power (NYSE: AEP) filed a shelf registration with the Securities and Exchange Commission today to periodically sell up to $3 billion in debt or equity securities for general corporate purposes.
May 23, 2003
American Electric Power (AEP) served as host today for the banding of four peregrine falcon chicks that hatched last month in the nesting box on the roof of One Summit Square, the tallest building in Fort Wayne, Ind. The Department of Natural Resources (DNR) placed metal identification bands on the legs of the falcon chicks during the 10:30 a.m. event. The bands will help the DNR keep track of the young birds as they migrate either late this summer or in the fall.
May 22, 2003
AEP Texas Central Co. (formerly Central Power and Light Co.) will redeem all the outstanding principal amount of its First Mortgage Bonds, Series II, 7-1/2%, due April 1, 2023, on June 25, 2003, at 103.32% of the principal amount outstanding plus accrued interest to the date of redemption.
May 22, 2003
As part of the carbon sequestration research project now going on at Mountaineer Plant in Mason County, seismic surveying will be done in a five- to 10-mile radius of the plant over the next several weeks.
May 19, 2003
American Electric Power (NYSE: AEP) will repair several minor defects on the Cook Nuclear Plant Unit 2 reactor vessel head, but this should not affect the refueling outage duration. The five small, shallow indications originally were identified during inspections in 2002, and they have not shown signs of increasing. However, new industry rules dictate that they be repaired before the unit is returned to service.
May 19, 2003
As one of the largest wind generators in the United States and a leader in addressing climate change, American Electric Power (NYSE: AEP) supports policies to accelerate the development of renewable generating resources. During a presentation today at WindPower 2003, a conference of the American Wind Energy Association (AWEA), E. Linn Draper, AEP’s chairman, president and chief executive officer, recognized the progress that has been made in wind generation, but focused on the obstacles that must be addressed if the United States is going to significantly increase the amount of electricity generated from wind and other renewable sources.
May 15, 2003
American Electric Power (NYSE: AEP) is among 17 Fortune 1000 companies listed as “Great Places to Work” in the 2003 Career Guide included in the May 2003 issue of ESSENCE, a monthly magazine for African-American women. ESSENCE has more than 8 million readers nationwide.
May 2, 2003
American Electric Power´s (NYSE: AEP) new safety advertising campaign features a mechanically challenged father, a "weekend handyman" and children who learn to use caution when flying kites. The television and print advertisements will appear across much of AEP´s 11-state service territory through the end of the year.
April 30, 2003
American Electric Power has scheduled a webcast of a meeting with industry analysts scheduled for Friday morning in New York. Audio from the meeting will be broadcast live over the Internet beginning at 8 a.m. EDT Friday.
April 29, 2003
COLUMBUS, Ohio, April 29, 2003 - American Electric Power (NYSE: AEP), boosted by a significant period-to-period gain in system sales, reported 2003 first-quarter ongoing earnings of $0.61 per share, a $0.02 per share improvement over the same period last year despite the dilutive effect of additional shares outstanding.
April 28, 2003
Stephen P. Smith has joined American Electric Power (NYSE: AEP) as senior vice president - corporate accounting, planning and strategy. Smith will oversee AEP’s financial planning and reporting functions.
April 25, 2003
An international group of leading energy companies has announced plans to install wind turbines on environmentally sensitive San Cristobal Island in the Galapagos Archipelago, replacing a substantial portion of the island’s electricity currently produced by large diesel-powered generators. American Electric Power (NYSE: AEP) is leading the project team.
April 25, 2003
American Electric Power (NYSE: AEP) has completed its exit from Nordic energy trading markets.
April 25, 2003
A massive intrusion of Alewives, a small fish, clogged plant cooling water intake systems Thursday and resulted in plant operators shutting down both units of American Electric Power’s (NYSE:AEP) Cook Nuclear Plant. It is common for the Alewife population along the shoreline to dramatically increase in the spring when the Alewives move to shallow water to spawn, but this sudden large intrusion was uncharacteristic.
April 24, 2003
American Electric Power (NYSE: AEP) has named Geoffrey S. Chatas senior vice president - finance and elected him treasurer. He succeeds Armando A. Peña, who has been named to a new position as senior vice president - financial policy.
April 24, 2003
American Electric Power’s quarterly earnings conference call with financial analysts will be broadcast live over the Internet at 9:30 a.m. EDT Tuesday, April 29.
April 24, 2003
Both units of the American Electric Power’s [NYSE:AEP] Cook Nuclear Plant were taken off-line early Thursday morning because of an influx of fish in the plant’s cooling water system.
April 23, 2003
Four public utility subsidiaries of American Electric Power (NYSE: AEP) Wednesday announced that on May 30, 2003, they will redeem all of their outstanding Junior Subordinated Deferrable Interest Debentures and certain of their first mortgage bonds.
April 23, 2003
American Electric Power (NYSE: AEP) Wednesday received a 2002 Regional Director’s Conservation Award from the Southeast Region of the U.S. Fish and Wildlife Service (USFWS) for its work to acquire, protect and reforest more than 10,000 acres of bottomland hardwood forest near Catahoula National Wildlife Refuge (NWR) in east central Louisiana.
April 23, 2003
American Electric Power (NYSE: AEP) has made significant progress toward improving its performance and returning to stable, steady growth, E. Linn Draper Jr., AEP’s chairman, president and chief executive officer, told shareholders attending the company’s annual meeting Wednesday.
April 23, 2003
The Board of Directors of American Electric Power Co. (NYSE: AEP) today declared a regular quarterly cash dividend of 35 cents a share on the company’s common stock.
April 21, 2003
American Electric Power (NYSE: AEP) will provide a live webcast of its annual meeting of shareholders, which begins at 9:30 a.m. EDT Wednesday, April 23.
April 9, 2003
E. Linn Draper Jr., American Electric Power’s (NYSE: AEP) chairman, president and chief executive officer, announced today that he plans to retire in 2004, on or around the company’s annual meeting of shareholders next April.
April 4, 2003
American Electric Power (NYSE: AEP), and five other project partners, received the 2003 Roy Family Award from Harvard University last night for their role in developing the Noel Kempff Mercado Climate Action Project in Bolivia. Recognizing AEP’s leadership role in the project, E. Linn Draper, Jr., AEP chairman, president and chief executive officer, provided the keynote address during the award ceremony at Harvard’s John F. Kennedy School of Government.
April 1, 2003
American Electric Power (NYSE: AEP) has received a subpoena from the Securities and Exchange Commission (SEC) as part of the agency´s ongoing investigation of energy trading activities.
March 31, 2003
American Electric Power (NYSE: AEP) Monday said it strongly supports the Environmental Protection Agency’s (EPA’s) efforts to clarify the types of activities that would constitute “routine maintenance, repair and replacement” under the agency’s New Source Review (NSR) program and urged the agency to complete work on its proposal as expeditiously as possible.
March 27, 2003
Four members of the American Electric Power (NYSE: AEP) management team and a member of the AEP Board of Directors have been named “key women in energy in the Americas” for 2002. Honored at a reception in Washington, D.C., on Tuesday were Melinda Ackerman, senior vice president - human resources; Michelle Kalnas, senior vice president - supply chain; Holly Koeppel, executive vice president - energy services; and Susan Tomasky, executive vice president - policy, finance and strategic planning and chief financial officer. AEP board member Linda Gillespie Stuntz, a partner with Stuntz, Davis & Staffier, P.C., of Washington, D.C, also was recognized.
March 26, 2003
After an intense 30 days of equity and debt activity, American Electric Power (NYSE: AEP) emerged with a stronger balance sheet, improved liquidity and stable, investment-grade ratings from all ratings agencies.
March 18, 2003
American Electric Power (NYSE: AEP) has sold its water heater rental program to America´s Water Heater Rentals (AWHR) for $38 million.
March 18, 2003
Saving a Bolivian rainforest, enhancing the habitat of 400,000 migratory waterfowl, and helping safeguard the giant tortoises of the Galapagos Islands might not be activities normally associated with a Midwest-based electric utility company, but they are just some of the actions American Electric Power (NYSE: AEP) has undertaken as part of its corporate commitment to environmental stewardship. A new publication from AEP details these and other voluntary efforts by the company to help minimize the impact its business has on the global environment.
March 11, 2003
American Electric Power (NYSE: AEP) has scheduled a live webcast of Wednesday’s presentation by E. Linn Draper Jr., AEP’s chairman, president and chief executive officer, at the Morgan Stanley 10th Annual Global Electricity & Energy Conference in New York.
March 11, 2003
American Electric Power (NYSE: AEP) said that it views today’s action by Fitch Ratings as a positive development, despite the downgrade, since all three ratings agencies have reviewed AEP and issued ratings that remain investment grade with stable outlooks.
March 10, 2003
American Electric Power (NYSE: AEP) has completed the sale of Mutual Energy Service Company, LLC (MESC), the customer care operation created to manage retail customer accounts in Texas, to Alliance Data Systems (NYSE: ADS), a leading provider of transaction, marketing and credit services.
March 10, 2003
American Electric Power (NYSE: AEP) has sold the assets of its C3 Communications subsidiary to Grande Communications for $7 million. The sale resulted in no gain or loss for AEP.
March 7, 2003
American Electric Power (NYSE: AEP) said that, although Standard & Poor’s today announced a one-notch downgrade of the company’s overall debt rating, the decision to maintain AEP’s A-2 commercial paper rating reflects AEP’s improved liquidity position.
February 28, 2003
American Electric Power (NYSE: AEP) announced Thursday that it has priced its offering of 50 million shares of common stock at a public offering price of $20.95 per share. AEP has granted the underwriters an option to purchase an additional 7.5 million shares of common stock to cover overallotments.
February 27, 2003
Columbus Southern Power Co. (CSP) Thursday announced that it will redeem the entire $44,000,000 principal amount of four of its outstanding series First Mortgage Bonds due in 2022.
February 26, 2003
American Electric Power Company, Inc. (NYSE:AEP) announced today that it plans to issue 50 million new shares of the company’s common stock. The offering will be made under the company’s existing shelf registration statement. The offering, when completed, will bring total shares outstanding to approximately 389 million.
February 26, 2003
American Electric Power (NYSE: AEP) has received an underwriting commitment from Citibank, N.A. and JP Morgan Chase Bank for a $1.5 billion revolving credit facility. A total of $750 million will mature in May 2004 and the remainder will mature in May 2006. The 2004 portion has a one-year term-out provision. The $1.5 billion facility will replace a $2.5 billion facility that matures in May 2003. The $1 billion reduction reflects the company’s lower reliance on short-term debt going forward.
February 14, 2003
American Electric Power (NYSE: AEP) and the Public Utility District No. 1 of Snohomish County, Wash. (Snohomish), today announced a settlement in a dispute over a long-term contract signed in January 2001.
February 13, 2003
Four regulated subsidiaries of American Electric Power (NYSE: AEP) this week issued unsecured senior notes totaling more than $2 billion in proceeds.
February 12, 2003
American Electric Power (NYSE: AEP) executives Susan Tomasky and Holly Koeppel received global honors this week for their achievements in the energy industry. Tomasky, executive vice president - policy, finance and strategic planning and chief financial officer, and Holly Koeppel, executive vice president - energy services, are among the “50 key women in energy” worldwide for 2002 selected by energy consultancy Rader Energy in association with London-based Commodities Now magazine and corporate sponsors Entergy-Koch, LP and Jacobs Consultancy.
February 10, 2003
American Electric Power (NYSE:AEP) said Monday that a decision by Moody’s Investors Service to downgrade the debt rating for AEP reflects the weak performance of the company’s unregulated investments, but that AEP’s core utility businesses remain strong.
February 5, 2003
American Electric Power’s (NYSE: AEP) Cook Nuclear Plant Unit 1 returned to service today after a 21-day outage to replace the main transformer.
January 24, 2003
COLUMBUS, Ohio, Jan. 24, 2003 - Citing continued difficult wholesale market conditions that have depressed corporate earnings, American Electric Power (NYSE: AEP) is implementing a plan designed to strengthen the company and improve short-term and long-term performance.
January 24, 2003
COLUMBUS, Ohio, Jan. 24, 2003 - American Electric Power (NYSE: AEP) today reported year-end earnings for a difficult 2002 and announced specific steps for strengthening the company’s balance sheet in 2003.
January 22, 2003
The Board of Directors of American Electric Power Co. (NYSE: AEP) today declared a regular quarterly cash dividend of 60 cents a share on the company’s common stock.
January 21, 2003
American Electric Power (NYSE: AEP) will replace the main transformer that was damaged by fire last Wednesday at Cook Nuclear Plant Unit 1. Repairs and return-to-service of the 1,035 MW unit are expected to be completed in a few weeks.
January 21, 2003
American Electric Power (NYSE: AEP) has reached an agreement with Pedernales Electric Cooperative Inc., a private, consumer-owned electric cooperative based in Johnson City, Texas, to sell a small portion of AEP’s electric distribution facilities in Central Texas to Pedernales for $9.5 million. Facilities being sold are in areas that currently border or are surrounded by Pedernales facilities.
January 20, 2003
American Electric Power’s quarterly earnings conference call with financial analysts will be broadcast live over the Internet at 9:30 a.m. EST Friday, Jan. 24.
January 16, 2003
American Electric Power (NYSE: AEP) announced today that it has joined the Chicago Climate Exchange (CCX), the first U.S. voluntary pilot program for trading of greenhouse gas emissions. AEP is one of 14 founding members announced today by the CCX at a news conference in Chicago.
January 16, 2003
A fire last night in the main transformer of American Electric Power’s (NYSE: AEP) Cook Nuclear Plant Unit 1 resulted in the automatic shutdown of the reactor and a brief activation of the site emergency plan. The fire was extinguished in 35 minutes by the site fire brigade. One security officer suffered smoke inhalation and was taken to Lakeland Hospital and released.
January 15, 2003
American Electric Power (NYSE:AEP) and the State of Ohio Environmental Protection Agency have reached an agreement to resolve concerns about leaks in the fly ash handling system at the Gen. James M. Gavin Plant in Cheshire, Ohio. The agreement, which includes a payment of $40,000 to the Ohio EPA, includes no admission of violations or liability by AEP.
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