December 28, 2007
AEP transmission venture with Allegheny files to establish FERC rate for PATH transmission project
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
AEP, MidAmerican Texas Transmission Joint Venture begins operation
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
AEP announces organizational, executive leadership changes
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
AEP names Hoaglin to board of directors
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.
November 8, 2007
AEP recognized as military-friendly employer for fifth consecutive year
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
RWE to join AEP in validation of carbon capture technology
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
AEP announces live webcast of presentation at EEI event
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
AEP reports 2007 third-quarter earnings
- 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 17, 2007
AEP names Michael Rencheck to lead Cook Nuclear Plant
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
AEP reaches settlement agreement in NSR case
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
AEP to recommend increase in dividend, boost long-term growth forecast
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 1, 2007
AEP completes sale of interest in Texas cogen to ConocoPhillips
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 19, 2007
AEP completes purchase of Dresden plant
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 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
OCC Denies Application for Red Rock Power Plant
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 23, 2007
AEP and Allegheny formalize joint venture to build transmission line
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
AEP to sell interest in Texas cogen to ConocoPhillips
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 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
SWEPCO, PSO Issue RFP for 2009-2012 Summer Peak Capacity
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.
July 31, 2007
AEP reports 2007 second-quarter earnings
- 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 16, 2007
Comments Sought on SWEPCO and PSO Draft RFP for 2009-2012 Summer Peak Capacity
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.
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).
May 24, 2007
PUCT approves settlement in AEP Texas North Company rate proceeding
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 16, 2007
AEP completes purchase of Lawrenceburg Plant
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 4, 2007
AEP awards contract to the Shaw Group for new 600-megawatt Turk Power Plant in SW Arkansas
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 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
AEP reports 2007 first-quarter earnings
- 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
AEP completes purchase of Darby plant from DPL Energy
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.
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 8, 2007
Texas state court reverses prelimary ruling regarding stranded costs determination for AEP´s Texas Central Company
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 20, 2007
AEP Endorses "Path To Sustainability" Statement of the Global Roundtable on Climate Change
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
AEP, the City of Columbus and CDDC Launch Scioto Mile Campaign
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
AEP sells TCC share of Oklaunion to Brownsville Public Utilities Board
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
Remarks by AEP´s CEO at Feb.14 analyst forum to be webcast
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 2, 2007
AEP seeks bids for full requirement power supply to serve a portion of Ohio load
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.
January 30, 2007
AEP reports 2006 fourth-quarter, full-year earnings
- 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
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. 30. The call will be broadcast live over the Internet at http://www.aep.com/go/webcasts.
January 2, 2007
AEP to purchase Lawrenceburg Generating Station from PSEG
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.