2009 News Releases

December 29, 2009

American Electric Power Seeks Offers For Low-Sulfur Coal For Its Ohio Power Company Subsidiary

American Electric Power is seeking offers to supply low-sulfur coal to one or more power plants operated by its Ohio Power Co. subsidiary.


December 23, 2009

AEP´s Cook Nuclear Unit 1 Reaches Full Reactor Power

AEP´s Cook Nuclear Plant Unit 1 reached full power Tuesday after completing testing and monitoring of the restored turbine generator system. Reactor start-up began last Friday, and an initial connection to the transmission grid took place early Saturday morning. Although at full reactor power, the electrical output will be reduced by an annual average of approximately 70 megawatts because the repaired low-pressure turbine rotors do not include the largest row of blades. New low-pressure turbine rotors that support full electrical output will be installed in the fall of 2011.


December 18, 2009

AEP Begins Testing Repaired Cook Nuclear Unit 1 Turbine Generator

AEP has restarted the Cook Nuclear Plant Unit 1 reactor and has begun testing the unit’s repaired turbine generator system. The 1,030-megawatt unit has been out of service since September 2008 when turbine vibrations, caused by broken low-pressure turbine blades, damaged the turbine generator, support structures and associated systems.


December 4, 2009

AEP Selected to Receive DOE Funds to Advance Carbon Dioxide Capture and Storage to Commercial Scale

American Electric Power was notified by the U.S. Department of Energy that it was selected to receive funding through the Clean Coal Power Initiative Round 3 to pay part of the costs of installing the nation’s first commercial-scale carbon dioxide capture and storage system on its Mountaineer coal-fired power plant in New Haven, W.Va.


November 20, 2009

AEP Subsidiary Public Service Company of Oklahoma to Redeem Senior Notes

Public Service Company of Oklahoma, a public utility subsidiary of American Electric Power today announced that on December 21, 2009, it will redeem the entire outstanding $150,000,000 principal amount of unsecured 4.85% Senior Notes, Series C, due September 15, 2010.


November 19, 2009

SWEPCO to Purchase Valley Electric Membership Corporation Assets

American Electric Power utility subsidiary AEP Southwestern Electric Power Company (SWEPCO) has signed a letter of intent to purchase the transmission and distribution assets of Valley Electric Membership Corporation (VEMCO).


November 9, 2009

AEP Is Honored As Military-Friendly Employer For Seventh Consecutive Year

G.I. Jobs magazine has named American Electric Power one of the nation’s 100 most "military-friendly" employers for the seventh consecutive year.


November 1, 2009

AEP Sets 2010 Ongoing Earnings Guidance, Capital Expenditures Budget
Formation of a transmission company planned as part of grid strategy

AEP has set its ongoing earnings guidance range and capital expenditures budget for 2010. AEP will also form a transmission company as part of its strategy to pursue transmission investment opportunities in AEP’s traditional footprint.


October 30, 2009

AEP and Alstom Commission First of Its Kind Carbon Capture and Sequestration (CCS) Project
Project will capture and store approximately 100,000 tonnes of CO2 annually

Federal and state government officials today joined executives from American Electric Power (NYSE: AEP) and Alstom at AEP’s Mountaineer Plant to formally commission the world’s first project to both capture and store carbon dioxide (CO2) from a coal-fired power plant. The officials hailed the project as a significant milestone in the effort to reduce CO2 emissions from the combustion of fossil fuels.


October 29, 2009

AEP Reports 2009 Third-Quarter Earnings

  • 2009 third-quarter earnings $0.93 per share GAAP and ongoing
  • AEP tightens 2009 ongoing guidance range to between $2.90 and $3.05 per share from previous range of between $2.75 and $3.05 per share
  • Third-quarter ongoing EPS matches prior period despite dilutive effect of additional shares outstanding, mild weather, weak economy


October 28, 2009

AEP Announces Live Webcast of Presentation at EEI Event Nov. 3

American Electric Power has scheduled a live audio webcast of remarks by AEP executives Nov. 3 at the 44th annual Edison Electric Institute Financial Conference in Hollywood, Fla.


October 27, 2009

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 23, 2009

AEP Schedules Live Webcast of Quarterly Earnings Call

American Electric Power has scheduled a quarterly earnings conference call with financial analysts for 9 a.m. EDT Thursday, Oct. 29. The call will be broadcast live over the Internet at http://www.aep.com/go/webcasts .


October 22, 2009

Arkansas Supreme Court Will Review Turk Plant Case

Plant Construction Continues

The Arkansas Supreme Court has decided to review a case concerning the John W. Turk, Jr. Power Plant now under construction by Southwestern Electric Power Company (SWEPCO), a unit of American Electric Power.


October 19, 2009

AEP Joins National Wild Turkey Federation’s Energy for Wildlife Program

Cooperative agreement will foster programs to support wildlife populations and promote biodiversity on AEP-owned lands and transmission rights of way.


October 1, 2009

AEP Recognized as a Top Company for Hispanics by Hispanic Business Magazine

AEP has been selected as one of this year’s top 60 companies for Hispanics by Hispanic Business magazine.


September 29, 2009

AEP Receives Sloan Award For Business Excellence In Workplace Flexibility

American Electric Power has been selected as a winner of the 2009 Alfred P. Sloan Award for Business Excellence in Workplace Flexibility.


September 22, 2009

AEP Names Cordes To Board Of Directors

James F. Cordes, former executive vice president of The Coastal Corp., has been elected to American Electric Power’s (NYSE: AEP) board of directors, according to Lester A. Hudson Jr., presiding director of AEP’s board of directors.


September 22, 2009

Working Mother Magazine Honors AEP For Fifth Time

American Electric Power (NYSE: AEP) has been named one of the “100 Best Companies for Working Mothers” by Working Mother magazine, a national publication targeting career-committed mothers, for the fifth time in eight years.


September 22, 2009

AEP Announces Executive Leadership Changes

American Electric Power has made executive leadership changes, effective Oct. 1.


September 1, 2009

Electric Transmission Texas Signs Contract for Largest Utility-scale Battery in the U.S.

Electric Transmission Texas LLC (ETT) has completed a contract with NGK-Locke, Inc. for a state-of-the-art, sodium-sulfur 4-megawatt NAS® battery system, which will be installed in Presidio, Texas. ETT is a joint venture between American Electric Power and MidAmerican Energy Holdings Company.


August 20, 2009

AEP To Apply For Stimulus Funds To Advance Carbon Dioxide Capture and Storage To Commercial Scale

Smaller-scale validation of technology begins operation in September

American Electric Power will apply for funding from the U.S. Department of Energy Clean Coal Power Initiative Round 3 to pay part of the costs of installing the nation’s first commercial-scale carbon dioxide capture and storage system on its Mountaineer coal-fired power plant in New Haven, W.Va.


August 18, 2009

AEP, MidAmerican Transmission Joint Venture Sponsors Study of Transmission Options to Transport Renewable Energy Across Upper Midwest

Electric Transmission America (ETA), a transmission joint venture of American Electric Power and MidAmerican Energy Holdings Company, has joined with American Transmission Company, Exelon Corporation, NorthWestern Energy and MidAmerican Energy Company, a subsidiary of MidAmerican Energy Holdings Company, to sponsor a comprehensive study of the transmission needed in the Upper Midwest to support renewable energy development and to transport that energy to consumers in markets to the east.


July 31, 2009

AEP Reports 2009 Second-Quarter Earnings

  • 2009 second-quarter earnings $0.67 per share GAAP, $0.68 per share ongoing
  • Improved rate structures contribute to earnings stability
  • Weak economy reflected in industrial, off-system sales


July 29, 2009

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.


July 24, 2009

AEP Schedules Live Webcast of Quarterly Earnings Call

American Electric Power (NYSE: AEP) has scheduled a quarterly earnings conference call with financial analysts for 9 a.m. EDT Friday, July 31. The call will be broadcast live over the Internet at http://www.aep.com/go/webcasts.


July 15, 2009

AEP Ohio Issues RFP For Solar Renewable Energy Certificates

AEP Ohio, an operating unit of American Electric Power is seeking proposals for up to 1,800 solar Renewable Energy Certificates (RECs). The RECs must be associated with electricity generated between July 31, 2008, and Dec. 31, 2009, from solar renewable resources with a placed-in-service date of Jan. 1, 1998, or later.


June 29, 2009

SWEPCO Seeks Arkansas Supreme Court Review of Turk Plant Case

Plant Construction Continues

Southwestern Electric Power Company (SWEPCO), a unit of American Electric Power, has asked the Arkansas Supreme Court to review a case concerning the John W. Turk Jr. Power Plant because of what SWEPCO considers to be errors in an appeals court ruling


June 15, 2009

AEP Adds Solar to Renewable Portfolio

American Electric Power through its AEP Ohio unit, has signed a long-term power purchase agreement to purchase all the output of a 10.08-megawatt (MW) solar energy facility to be built in Ohio.


June 1, 2009

AEP Issues RFP for 1,100 Megawatts of Renewable Energy Resources

American Electric Power issued a request for proposals (RFP) seeking long-term purchases of up to 1,100 megawatts (MW) of renewable energy resources.


May 22, 2009

Dialogue Featuring AEP’s CEO at Sanford Bernstein Conference to be Webcast

AEP has scheduled a live audio webcast of remarks by Michael G. Morris, AEP chairman, president and chief executive officer, May 27 at the Sanford Bernstein & Co. Strategic Decisions Conference 2009 in New York.


May 21, 2009

Remarks by AEP’s CFO at Deutsche Bank Conference May 27 to be Webcast

American Electric Power has scheduled a live audio webcast of remarks by Holly Koeppel, AEP executive vice president and chief financial officer, May 27 at the Deutsche Bank 2009 Energy, Utilities and Power Conference in Miami Beach, Fla.


May 11, 2009

American Electric Power Seeks Compliance Coal Offers

AEP announced today that its American Electric Power Service Corp. (AEPSC) subsidiary is seeking offers for the supply of Powder River Basin coal to one or more of its operating companies starting as early as January 1, 2010 for the following periods:


May 1, 2009

AEP Again Named Most Adoption-Friendly Workplace in Energy and Utilities Sector

For the third consecutive year, AEP has been named the most “adoption-friendly workplace” in the energy and utilities sector by the Dave Thomas Foundation for Adoption.


April 30, 2009

SWEPCO and Subsidiary Dolet Hills Sign Agreement To Acquire Oxbow Mine Lignite Reserves and Mining Assets Near Coushatta, La.

AEP Southwestern Electric Power Co. (SWEPCO) and its subsidiary Dolet Hills Lignite Co. (DHLC), announced today that they have entered into an agreement with The North American Coal Corporation and its affiliates, Red River Mining Company (RRMC) and Oxbow Property Company L.L.C. (OPC), to acquire 50 percent of the Oxbow Mine lignite reserves and all associated mining equipment and assets. As part of the transaction, Cleco Power LLC, a subsidiary of Cleco Corp., is acquiring the remaining 50 percent of Oxbow Mine lignite reserves, located near Coushatta, La.


April 29, 2009

American Electric Power Seeks Bids for High-Sulfur Coal

AEP is seeking offers for the supply of high-sulfur coal to one or more of its generating stations.


April 28, 2009

AEP Doubles Renewable Energy Goal to 2,000 Megawatts

Company announces goal in 2009 Corporate Sustainability Report released today

American Electric Power is doubling its goal of adding 1,000 megawatts (MW) of renewable energy to 2,000 MW by the end of 2011, with regulatory support. The goal is one of 12 new targets announced in the company’s third annual Corporate Sustainability Report released today at http://www.AEP.com/cr. This will bring the company’s total renewable energy portfolio to more than 2,600 MW by the end of 2011.


April 28, 2009

AEP Positioned to Resume Growth When Economy Recovers, Shareholders Hear at Company’s Annual Meeting

Actions taken by American Electric Power to manage the effects of the nation’s economic downturn have the company positioned to resume growth when the economy improves, according to Michael G. Morris, AEP’s chairman, president and chief executive officer.


April 28, 2009

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.


April 24, 2009

AEP Reports 2009 First Quarter Earnings

  • 2009 first-quarter earnings: GAAP and ongoing $0.89 per share
  • Impact of lower off-system sales and reduced industrial sales somewhat offset by higher rates in several jurisdictions
  • Company reaffirms its 2009 ongoing guidance of between $2.75 and $3.05 per share


April 24, 2009

AEP Plans Live Webcast of Annual Meeting of Shareholders

American Electric Power will provide a live webcast of its annual meeting of shareholders Tuesday, April 28, beginning at 10:30 a.m. EDT (9:30 a.m. CDT). The meeting will be held in Austin, Texas.


April 22, 2009

PSO to Seek OCC Approval of Purchased Power Agreement

Public Service Company of Oklahoma (PSO), a subsidiary of American Electric Power (NYSE: AEP), and Exelon Generation Company LLC, a subsidiary of Exelon Corporation, have executed a long-term purchase power agreement (PPA) for which an application seeking its approval is expected to be filed with the Oklahoma Corporation Commission (OCC) in a matter of days.


April 17, 2009

AEP Schedules Live Webcast of Quarterly Earnings Meeting

AEP has scheduled a quarterly earnings meeting with financial analysts for 8:30 a.m. EDT Friday, April 24. The meeting, which will be held in New York City, will be broadcast live over the Internet at http://www.aep.com/go/webcasts.


April 3, 2009

AEP Announces Exercise Of Over-Allotment Option

American Electric Power announced today that the underwriters of its public offering exercised their over-allotment option to purchase an additional 9 million common shares. The option was granted in connection with the company´s public offering of 60 million common shares, which priced on April 1, 2009, at an offering price of $24.50 per share. AEP expects gross proceeds from the offering to be approximately $1.69 billion.


April 1, 2009

AEP Prices New Common Stock

American Electric Power (NYSE: AEP) announced today that it has priced a public offering of 60 million shares of common stock at $24.50 per share for gross proceeds of approximately $1.47 billion.


March 30, 2009

AEP and Fiserv Team Up to Save Customers Money and Plant Trees

Paperless billing program encourages customers to receive and pay bills online.

Customers of American Electric Power utility companies who enroll in AEP’s paperless billing program over the next two months will save time and money while helping the environment.


March 30, 2009

AEP Revises 2009 Ongoing Earnings Guidance, Lowers Capital Spending Plan for 2010

AEP has revised its 2009 ongoing earnings guidance, establishing a guidance range of between $2.75 and $3.05 per share. The revised guidance recognizes current operating and economic factors and reflects dilution from the company’s planned issuance of new equity.


March 30, 2009

American Electric Power Plans Public Offering of Common Stock

AEP announced today that it plans to offer approximately 50 million shares of the company’s common stock in a registered public offering. In addition, the underwriters are expected to have an over-allotment option to purchase up to 7.5 million additional shares of the company’s common stock. The company will use the net proceeds from the sale to reduce its debt.


March 19, 2009

AEP CEO Michael Morris and T.Boone Pickens Team Up for Town Hall Meeting on Energy and the Economy

COLUMBUS, Ohio, March 19, 2009 – Michael G. Morris, American Electric Power (NYSE: AEP) chairman, president and chief executive officer, will be joined by oil and gas industry veteran T. Boone Pickens for a town hall meeting to discuss the need to modernize and expand the electricity grid, tap into alternative energy sources and reduce the nation’s dependence on foreign oil.


March 3, 2009

AEP Foundation Partners with Columbus Foundation to Support the Critical Need Alert and Extend Matching Dollars

The American Electric Power Foundation will donate $200,000 to respond to The Columbus Foundation’s Critical Need Alert and the creation of the Safety Net Fund to help 20 area nonprofit organizations offer food and housing to people in need in central Ohio.


February 19, 2009

AEP Signs on as Corporate Sponsor of Pickens’ Energy Plan

AEP has signed on as a corporate sponsor of The Pickens Plan, the energy independence plan proposed by oil and gas industry veteran T. Boone Pickens.


February 10, 2009

AEP Operating Units Add Another 250 MW of Renewable Energy to Serve Customers in Indiana, Michigan, Ohio, Virginia and West Virginia

AEP achieves more than 90 percent of 1,000-megawatt wind energy goal.

American Electric Power operating units have signed power purchase agreements for renewable wind energy totaling approximately 250 megawatts (MW) to serve customers in Indiana, Michigan, Ohio, Virginia and West Virginia. With these new agreements, AEP has contracted for 903.4 MW of wind generation capacity since 2007, when the company committed to adding 1,000 MW of renewable wind energy to its generation mix by 2011.


February 5, 2009

AEP´s PSO Operating Unit to Purchase Renewable Energy to Serve Oklahoma Customers

American Electric Power operating unit Public Service Company of Oklahoma (PSO) has signed long-term power purchase agreements for approximately 198 megawatts of renewable energy from two Oklahoma wind farms.


January 29, 2009

AEP Reports Earnings For 2008 Fourth Quarter, Year

  • 2008 fourth-quarter earnings: $0.38 per share GAAP, $0.59 per share ongoing
  • 2008 full-year earnings: $3.43 per share GAAP, including one-time items; $3.24 per share ongoing
  • Company reaffirms its ongoing earnings guidance range for 2009 of between $3.00 and $3.40 per share


January 28, 2009

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.


January 28, 2009

Remarks by President of AEP’s Transmission Organization at Credit Suisse Event to be Webcast

AEP has scheduled a live audio webcast of a presentation by Susan Tomasky, president – AEP Transmission, at the Credit Suisse Energy Summit in Vail, Colo., Feb. 3.


January 28, 2009

AEP First Utility to Receive U.S. EPA SmartwaySM Recognition for Actions to Reduce the Impact of Its Transportation Operations

AEP is the first utility to be recognized as a SmartWay Transport partner by the U.S. Environmental Protection Agency (EPA) for the company’s efforts to reduce transportation-related greenhouse gas emissions.


January 27, 2009

AEP Names Tucker to Board of Directors

Sara Martinez Tucker, former undersecretary of the U.S. Department of Education and former president and chief executive officer of the Hispanic Scholarship Fund, has been elected to American Electric Power’s Board of Directors, according to Michael G. Morris, chairman, president and chief executive officer.


January 23, 2009

AEP Recognized as Top Employer by Minority Engineer Publication

Minority Engineer magazine has named American Electric Power (NYSE: AEP) one of the nation´s top 50 private-sector employers.


January 23, 2009

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. EST Thursday, Jan. 29. The call will be broadcast live over the Internet at http://www.aep.com/go/webcasts.


January 21, 2009

AEP Names Joe Jensen To Lead Cook Nuclear

Joseph N. (Joe) Jensen has been named senior vice president and chief nuclear officer of American Electric Power’s D.C. Cook Nuclear Plant in Bridgman, Mich., effective Jan. 26. Jensen has been a vice president at Cook since 2003, most recently with responsibilities for design and plant engineering, technical projects and support services.


January 13, 2009

AEP´s SWEPCO Subsidiary Signs Long-term Pact To Purchase Wind Energy from Majestic Wind Power LLC

American Electric Power subsidiary Southwestern Electric Power Co. (SWEPCO) has signed a long-term power purchase agreement for renewable wind energy with Majestic Wind Power LLC, a subsidiary of Babcock & Brown Renewable Holdings Inc.