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December 28, 2007
American Electric Power today announced that Potomac-Appalachian Transmission Highline LLC, AEP’s transmission joint venture with Allegheny Energy, has filed with the Federal Energy Regulatory Commission to establish a transmission rate to recover costs for the approximately 290-mile, extra-high voltage transmission line that the companies propose to build from West Virginia into Maryland.
December 21, 2007
American Electric Power (NYSE: AEP) and MidAmerican Energy Holdings Co. (MidAmerican) today completed the transaction establishing Electric Transmission Texas, LLC (ETT) as a joint venture to build transmission projects within the Electric Reliability Council of Texas (ERCOT).
December 14, 2007
American Electric Power (NYSE: AEP) has made organizational and executive leadership changes to support the company´s strategic and executive succession goals, according to Michael G. Morris, AEP’s chairman, president and chief executive officer.
December 13, 2007
Thomas E. Hoaglin, chairman and chief executive officer of Huntington Bancshares Inc., 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.
December 11, 2007
American Electric Power (NYSE: AEP) is one of 10 international electric utilities, and the only U.S.-based utility, participating in a project of the World Business Council for Sustainable Development (WBCSD) that is designed to promote the achievement of a sustainable electricity future. The WBCSD Electricity Utilities Sector Project released its interim report “Powering a Sustainable Future: Policies and Measures to Make it Happen” today at the United Nations Climate Change conference in Bali.
November 8, 2007
G.I. Jobs magazine is recognizing American Electric Power (NYSE: AEP) as one of the nation’s 50 most “military-friendly” employers for the fifth consecutive year. AEP is among only seven companies that have been named to the publication’s top-50 list each year since its inception in 2003.
November 8, 2007
American Electric Power (NYSE: AEP) announced today that RWE AG, one of the world’s leading power producers and the largest electricity producer in Germany, will collaborate with AEP and Alstom during a planned validation of commercial-scale application of carbon capture and storage technology on an existing AEP coal-fired power plant.
October 31, 2007
American Electric Power has scheduled a live audio webcast of remarks by Holly Koeppel, AEP executive vice president and chief financial officer, Nov. 6 at the 42nd annual Edison Electric Institute Financial Conference in Lake Buena Vista, Fla.
October 24, 2007
- 2007 third-quarter earnings: $1.02 per share GAAP, $1.16 per share ongoing
- AEP’s utilities have strong quarter
- Company once again confirms earnings guidance for 2007
October 23, 2007
The Board of Directors of American Electric Power Co. (NYSE: AEP) today approved an increase in the regular quarterly cash dividend on a share of the company’s common stock to 41 cents a share from the previous 39 cents a share.
October 19, 2007
American Electric Power has scheduled its quarterly earnings conference call with financial analysts for 10 a.m. EDT Wednesday, Oct. 24.
October 18, 2007
American Electric Power (NYSE: AEP) said today the Public Utility Commission of Texas (PUCT) has approved an increase in the rates AEP Texas Central Company (TCC) charges Retail Electric Providers (REPs) for the delivery of electricity over its transmission and distribution system.
October 18, 2007
American Electric Power (NYSE: AEP) is purchasing property adjacent to its Lakin, W.Va., river operations center to be used for expansion of that facility.
October 17, 2007
Michael Rencheck has been named senior vice president and chief nuclear officer for American Electric Power’s (NYSE: AEP) D.C. Cook Nuclear Plant in Bridgman, Mich., effective Nov. 1. He has been AEP’s senior vice president – Engineering, Projects and Field Services since January 2006.
October 16, 2007
American Electric Power (NYSE: AEP) and SemGreen L.P., a subsidiary of SemGroup L.P., have signed a memorandum of understanding regarding the delivery and use of carbon dioxide captured by a planned commercial-scale carbon capture system on AEP subsidiary Public Service Company of Oklahoma’s Northeastern coal-fired power plant.
October 9, 2007
American Electric Power (NYSE: AEP) has reached a settlement agreement with the U.S. Environmental Protection Agency (U.S. EPA), eight states and 14 environmental organizations, bringing an end to almost eight years of litigation regarding alleged violations of the New Source Review (NSR) provisions of the Clean Air Act. AEP admits no violations of law, and all claims against AEP were released.
October 4, 2007
American Electric Power (NYSE: AEP) will recommend its board of directors increase the annual dividend, the company said this morning during presentations to investors and analysts in New York. AEP also increased its long-range forecast for ongoing earnings growth.
October 4, 2007
AEP seeks sites for initial deployment to 200,000 customers, goal of 5 million by 2015;
technologies improve overall efficiency, enable customers to control electricity costs
October 1, 2007
American Electric Power (NYSE: AEP) has completed the sale of its 50 percent interest in the Sweeny Cogeneration plant in Texas to ConocoPhillips for approximately $80 million, including working capital items and the assumption of project debt.
September 28, 2007
American Electric Power has scheduled a live audio webcast of management presentations at the company’s Analyst and Investor Meeting Oct. 4 in New York.
September 28, 2007
American Electric Power (NYSE: AEP) and The AEP Foundation have committed to investing an estimated $120 million over the next five years to demonstrate green building technologies and support development of public green spaces and environmental education as part of the company’s participation in the Clinton Global Initiative (CGI). The commitment was announced today at the 2007 CGI annual meeting in New York.
September 25, 2007
For the third time in six years, American Electric Power has been selected as one of the “100 Best Companies for Working Mothers” by Working Mother magazine, a national publication targeting career-committed mothers.
September 24, 2007
American Electric Power subsidiary Appalachian Power Co. has signed a long-term power purchase agreement for renewable wind energy with Camp Grove Wind Farm LLC, a wind project majority owned by Orion Energy Group LLC.
September 20, 2007
American Electric Power and ABB have entered into an alliance to develop advanced technologies to enhance 765-kilovolt (kV) extra-high voltage transmission.
September 20, 2007
American Electric Power (NYSE: AEP) has scheduled a live audio webcast of remarks by Michael G. Morris, AEP’s chairman, president and chief executive officer, at the Merrill Lynch Power & Gas Leaders Conference in New York Sept. 26.
September 19, 2007
American Electric Power announced today that it has completed the purchase of a natural gas-fired power plant under construction near Dresden, Ohio, from Dresden Energy LLC, a subsidiary of Dominion.
September 18, 2007
American Electric Power (NYSE: AEP) has formed a joint venture company with a MidAmerican Energy Holdings Company (MidAmerican) subsidiary to build and own electric transmission assets. The joint venture, Electric Transmission America LLC (ETA), will be a 50-50 partnership to identify and invest in high-voltage transmission projects (345-kilovolt or higher) located in North America outside of the Electric Reliability Council of Texas (ERCOT).
September 17, 2007
American Electric Power’s (AEP:NYSE) Cook Nuclear Plant Unit 2 set several fuel cycle records as the reactor was safely shut down early Saturday to begin a refueling outage. In addition to refueling the reactor and regular outage maintenance and testing work, this outage includes replacing the reactor vessel head and other major component and system improvements. Total project costs will be more than $70 million.
September 14, 2007
American Electric Power (NYSE: AEP) and ITC Holdings Corp. (ITC) today released the results of their joint technical study evaluating the feasibility of extending AEP’s existing 765-kilovolt (kV) transmission infrastructure through Michigan to enhance reliability and support a more efficient generation marketplace. The companies announced the study Nov. 6, 2006.
September 11, 2007
American Electric Power (NYSE: AEP), as part of the company´s comprehensive effort to integrate new technologies for reliability, renewable energy and energy efficiency to meet customers’ future needs, is expanding its use of large-scale battery technology on its electricity grid.
September 10, 2007
Oklahoma Corporation Commissioners Monday issued an oral order denying PSO´s application for approval of the $1.8 billion Red Rock coal-fired power plant project. PSO had proposed to build the plant with Oklahoma Gas & Electric and the Oklahoma Municipal Power Authority. The vote to deny the application was 2-1.
August 30, 2007
American Electric Power (NYSE: AEP) is the first electric utility to commit to participation as a corporate champion in the Green Suppliers Network (GSN) program, which seeks to help small and medium-sized manufacturers become more competitive while reducing their impact on the environment.
August 30, 2007
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 Lehman Brothers CEO Energy/Power Conference in New York Sept. 5.
August 23, 2007
American Electric Power (NYSE: AEP) has finalized its transmission joint venture with Allegheny Energy (NYSE: AYE). The companies announced plans April 18 to create the joint venture to build a 290-mile, high-voltage transmission line from West Virginia into Maryland.
August 21, 2007
American Electric Power has reached an agreement to sell its 50 percent interest in the Sweeny Cogeneration plant in Texas to ConocoPhillips for approximately $80 million, including working capital items and the assumption of project debt.
August 16, 2007
American Electric Power operating subsidiary AEP Ohio today filed as an intervenor in support of the competitive generation supply plan currently being considered by the Public Utilities Commission of Ohio (PUCO).
The plan, as proposed July 10 by FirstEnergy, includes bidding processes for providing competitively priced generation service to customers who do not choose to purchase electricity from another supplier. The plan will minimize customers’ exposure to price volatility by averaging the results of multiple bidding sessions conducted at different times during the year.
August 10, 2007
American Electric Power has scheduled a live audio webcast of a presentation by Michael G. Morris, AEP’s chairman, president and chief executive officer, at the Wall Street Analyst Forum in New York Aug. 16.
August 8, 2007
American Electric Power (NYSE: AEP) announced today that it has agreed to purchase a natural gas-fired power plant under construction near Dresden, Ohio, from Dresden Energy LLC, a subsidiary of Dominion (NYSE: D), for approximately $85 million.
August 8, 2007
Two American Electric Power (NYSE: AEP) subsidiaries have signed long-term power purchase agreements with Fowler Ridge Wind Farm LLC, an indirect subsidiary of BP Alternative Energy North America Inc., for a total of 200 megawatts (MW) of renewable wind energy.
August 6, 2007
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 short-term capacity that will allow SWEPCO and PSO to satisfy planning reserve requirements of the Southwest Power Pool (SPP) for the 2009-2012 summer peaking periods.
August 2, 2007
American Electric Power (NYSE: AEP) is actively seeking buyers for four inactive gas-fired power generating plants in Texas.
July 31, 2007
Four American Electric Power (NYSE: AEP) subsidiaries today filed notices with the Securities and Exchange Commission (SEC) to end their financial reporting obligations with the SEC, consistent with federal securities law.
July 31, 2007
- 2007 second-quarter earnings: $0.45 per share GAAP, $0.64 per share ongoing
- Effect of Virginia re-regulation reduces GAAP earnings
- Ongoing earnings from Utility Segment increase 50 percent from prior year, reflecting rate changes, favorable weather, increased usage and off-system sales
- Company reaffirms 2007 ongoing earnings guidance of $2.85 to $3.05 per share
July 25, 2007
COLUMBUS, Ohio, July 25, 2007 – The Board of Directors of American Electric Power Co. (NYSE: AEP) today declared a regular quarterly cash dividend of 39 cents a share on the company’s common stock.
July 25, 2007
American Electric Power (NYSE: AEP) has scheduled its quarterly earnings conference call with financial analysts for 9 a.m. EDT Tuesday, July 31. The call will be broadcast live over the Internet at http://www.aep.com/go/webcasts.
July 16, 2007
American Electric Power (NYSE: AEP) operating subsidiaries Southwestern Electric Power Company (SWEPCO) and Public Service Company of Oklahoma (PSO) are planning to issue a Request for Proposals (RFP) Aug. 6 for the purchase of capacity. In order to solicit input from potential bidders and other interested parties prior to the issuance of the RFP, comments are being sought on the draft RFP listed below.
July 13, 2007
American Electric Power’s (NYSE: AEP) Southwestern Electric Power Company (SWEPCO) has begun commercial operation of the new Harry D. Mattison Power Plant at Tontitown, Ark.
June 22, 2007
American Electric Power’s (NYSE: AEP) 765-kilovolt (kV) joint transmission line proposal with Allegheny Energy Inc. (NYSE: AYE) was approved today by PJM Interconnection (PJM).
June 18, 2007
A proposed Integrated Gasification Combined Cycle (IGCC) clean-coal power plant in New Haven, W.Va., could be completed in mid-2012 at the earliest at a cost of approximately $2.23 billion if appropriate regulatory approvals are obtained in West Virginia and Virginia without delays, according to testimony filed with the Public Service Commission of West Virginia (PSC) today by Appalachian Power, an operating subsidiary of American Electric Power (NYSE: AEP).
June 15, 2007
AEP has accepted an invitation to join the World Business Council for Sustainable Development, a global association dealing exclusively with business and sustainable development.
June 14, 2007
American Electric Power (NYSE: AEP) today announced an agreement with an affiliate of Environmental Credit Corp. (ECC) to purchase approximately 4.6 million carbon credits between 2010 and 2017 generated from capturing methane on livestock farms. (One carbon credit is equal to one ton of carbon dioxide reduction.) The agreement is part of the first large-scale livestock methane offset program established in the United States that will capture and destroy methane from approximately 400,000 head of livestock on as many as 200 U.S. farms.
June 1, 2007
Live webcasts are scheduled of two panel discussions featuring Michael G. Morris, chairman, president and chief executive officer of American Electric Power, June 7 at the Citi Investment Research Power, Gas and Utilities Conference in Charleston, S.C.
May 24, 2007
American Electric Power (NYSE: AEP) subsidiary AEP Texas North Company (TNC) announced that the Public Utility Commission of Texas (PUCT) has approved the unanimous settlement of a request by TNC to increase the rates it charges Retail Electric Providers (REPs) for transmission and distribution services.
May 24, 2007
American Electric Power has scheduled a live audio webcast of remarks by Holly Koeppel, AEP’s executive vice president and chief financial officer, at the Deutsche Bank Securities 2007 Energy and Utilities Conference in Miami Beach, Fla.
May 23, 2007
American Electric Power is among 20 companies nationwide that are recognized in the June edition of Working Mother magazine as “best companies for multicultural women.”
May 22, 2007
American Electric Power has joined the Electric Drive Transportation Association (EDTA).
May 16, 2007
American Electric Power (NYSE: AEP), through its AEP Generating Co. subsidiary, today completed the purchase of the Lawrenceburg Generating Station in Indiana from an affiliate of Public Service Enterprise Group (NYSE: PEG).
May 7, 2007
Live webcasts are scheduled of three panel discussions featuring Holly Koeppel, executive vice president and chief financial officer of American Electric Power, May 11 at the Goldman Sachs Power and Utility Conference in New York.
May 4, 2007
American Electric Power’s (NYSE: AEP) Southwestern Electric Power Company (SWEPCO) has awarded The Shaw Group Inc. (NYSE: SGR) of Baton Rouge, La. the engineering, procurement and construction (EPC) contract to build the John W. Turk, Jr. Power Plant, a new 600-megawatt (MW) coal-fueled power plant at Fulton, Ark., in Hempstead County near Texarkana. SWEPCO is seeking the necessary regulatory approvals to build the plant from various Arkansas, Texas and Louisiana authorities.
April 30, 2007
American Electric Power has been named the most “adoption-friendly workplace” in the energy and utilities sector for 2007 by the Dave Thomas Foundation for Adoption.
April 27, 2007
American Electric Power (NYSE: AEP) commended the Department of Energy’s (DOE) designation of two draft National Interest Electric Transmission Corridors to address the significant congestion issues and reliability concerns currently impacting the transmission grid.
April 26, 2007
American Electric Power (NYSE: AEP) has released its first-ever Corporate Responsibility Report in which it addresses issues that affect the company’s sustainability, including climate change, public policy strategy, environmental performance, energy security, reliability and growth, work force issues and stakeholder engagement.
April 26, 2007
- 2007 first-quarter earnings: $0.68 per share GAAP and ongoing
- Company sees growth in retail sales; expansion in utility gross margin shows benefit of rate relief in a number of jurisdictions
- Decline in earnings from prior period was expected because of planned generation outages for completion of environmental projects, increased expenses and an anticipated reduction in items that contributed to 2006 earnings
- AEP reaffirms 2007 ongoing earnings guidance range of between $2.85 and $3.05 per share
April 25, 2007
Columbus Southern Power, a utility subsidiary of American Electric Power (NYSE: AEP), today completed the purchase of the Darby Electric Generating Station from DPL Energy, LLC, a subsidiary of DPL Inc.
April 25, 2007
Every dollar spent for construction of new transmission lines to support the development of wind resources in Texas will result in a $5 to $7 reduction in energy costs, according to testimony filed Tuesday with the Public Utility Commission of Texas (PUCT) by Electric Transmission Texas LLC (ETT), a proposed joint venture between subsidiaries of American Electric Power (NYSE: AEP) and MidAmerican Energy Holdings Co.
April 24, 2007
The Board of Directors of American Electric Power Co. (NYSE: AEP) today declared a regular quarterly cash dividend of 39 cents a share on the company’s common stock.
April 24, 2007
American Electric Power (NYSE: AEP) entered 2007 with a strong balance sheet and a focus on sustainability and disciplined growth, Michael G. Morris, AEP chairman, president and chief executive officer, told shareholders attending the company’s annual meeting today in Shreveport, La.
April 20, 2007
American Electric Power has scheduled its quarterly earnings conference call with financial analysts for 9 a.m. EDT Thursday, April 26.
April 19, 2007
American Electric Power today said that it expects first-quarter 2007 earnings, prepared in accordance with Generally Accepted Accounting Principles (GAAP), and first-quarter 2007 ongoing earnings (earnings excluding special items) of approximately $0.68 per share. First-quarter 2006 GAAP earnings were $0.97 per share and first-quarter 2006 ongoing earnings were $0.96 per share.
April 18, 2007
American Electric Power has signed a memorandum of understanding (MOU) with Allegheny Energy Inc. to form a joint venture company to build and own new electric transmission assets within PJM Interconnection (PJM).
April 18, 2007
American Electric Power (NYSE: AEP) will provide a live webcast of its annual meeting of shareholders April 24 beginning at 10:30 a.m. EDT (9:30 a.m. CDT). The meeting will be held in Shreveport, La.
April 3, 2007
American Electric Power today issued two requests for proposals seeking long-term wind energy purchase agreements, the first steps toward a goal of adding 1,000 megawatts of new wind energy by 2011 as part of AEP’s comprehensive strategy to address greenhouse gas emissions.
March 28, 2007
American Electric Power has been named one of the top 30 companies for women executives by the National Association for Female Executives (NAFE), which is affiliated with Working Mother Media.
March 15, 2007
American Electric Power (NYSE:AEP) will install carbon capture on two coal-fired power plants, the first commercial use of technologies to significantly reduce carbon dioxide emissions from existing plants.
March 13, 2007
American Electric Power (NYSE: AEP) was recognized today as a top customer service provider to the nation’s retail chains and other multi-site businesses during 2006.
March 9, 2007
American Electric Power (NYSE: AEP) has scheduled a live audio webcast of a presentation by Michael G. Morris, AEP’s chairman, president and chief executive officer, at the Morgan Stanley Global Electricity & Energy Conference in New York March 15.
March 8, 2007
A Texas state district court judge has reversed a preliminary ruling made Feb. 1 regarding the determination of stranded costs for American Electric Power’s (NYSE: AEP) Texas Central Company (TCC) unit and has cancelled a March 22 hearing for re-argument. TCC and entities representing various customer groups had appealed portions of the April 4, 2006, order from the Public Utility Commission of Texas (PUCT) to the district court. The April 2006 order authorized TCC to recover $1.804 billion in stranded costs and regulatory assets.
February 27, 2007
Electric Transmission Texas LLC (ETT), a proposed joint venture between subsidiaries of American Electric Power (NYSE: AEP) and MidAmerican Energy Holdings Company, today filed a transmission proposal with the Public Utility Commission of Texas (PUCT) for the construction of approximately 1,000 miles of transmission lines to support development of the Competitive Renewable Energy Zones (CREZ) in Texas.
February 20, 2007
American Electric Power is one of more than 85 international companies and organizations who signed a statement released today that proposes a post-Kyoto framework for addressing global climate change. “The Path to Climate Change Sustainability: A Joint Statement by the Global Roundtable on Climate Change” puts forth principles for creating an effective global approach to climate policy.
February 19, 2007
American Electric Power, Mayor Michael B. Coleman and the Columbus Downtown Development Corporation announced $20 million in commitments to begin transforming downtown’s Scioto riverfront into a beautiful, modern park - the Scioto Mile.
February 14, 2007
American Electric Power (NYSE: AEP) subsidiary Texas Central Co. (TCC) completed the sale of its 7.8 percent share of Oklaunion Power Station to the City of Brownsville, Texas (Public Utilities Board Brownsville), for $42.75 million plus adjustments. Brownsville is a co-owner of Oklaunion Power Station.
February 8, 2007
American Electric Power (NYSE: AEP) has scheduled a live audio webcast of a presentation by Michael G. Morris, AEP’s chairman, president and chief executive officer, at the Wall Street Analyst Forum in New York Feb. 14.
February 5, 2007
A Texas state district court judge has granted a rehearing of a preliminary ruling he made regarding the determination of stranded costs for American Electric Power’s (NYSE: AEP) Texas Central Company (TCC) unit in an April 4, 2006, order from the Public Utility Commission of Texas (PUCT).
February 2, 2007
American Electric Power Service Corp., a subsidiary of American Electric Power (NYSE: AEP) is seeking proposals for full requirements energy and capacity on behalf of the company’s Columbus Southern Power (CSP) unit to serve the electricity demands of approximately 29,000 customers that CSP acquired from Monongahela Power Dec. 31, 2005.
February 1, 2007
American Electric Power as 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. 6.
January 30, 2007
- 2006 fourth-quarter earnings: GAAP $0.46 per share, ongoing $0.38 per share
- 2006 full-year earnings: GAAP $2.54 per share, ongoing $2.77 per share
- Earnings for both periods increased from same periods in 2005
- Revenue from utility rate changes, MEMCO barge operations drive improvement
January 24, 2007
The Board of Directors of American Electric Power Co. (NYSE: AEP) today declared a regular quarterly cash dividend of 39 cents a share on the company’s common stock.
January 24, 2007
American Electric Power (NYSE: AEP) has scheduled its quarterly earnings conference call with financial analysts for 9 a.m. EST Tuesday, Jan. 30. The call will be broadcast live over the Internet at http://www.aep.com/go/webcasts.
January 23, 2007
Companies file for regulatory approval and rate recovery in Texas, name executive director and sign participation agreement
January 18, 2007
American Electric Power (NYSE: AEP) has earned worldwide recognition for its corporate intranet, AEP Now.
January 10, 2007
AEP was recognized by the Edison Electric Institute (EEI) today for helping other utilities restore electric service to their customers during 19 separate emergency events in 2006.
January 8, 2007
An explosion this morning at American Electric Power’s Muskingum River power plant killed an employee of a supplier delivering hydrogen to the plant.
January 2, 2007
American Electric Power announced today that its AEP Generating Co. subsidiary has agreed to purchase the Lawrenceburg Generating Station from an affiliate of Public Service Enterprise Group for approximately $325 million.
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