AEP Disappointed in Ruling by PUCO on Revised ESP

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Feb 23, 2012, 02:08 ET

COLUMBUS, Ohio, Feb. 23, 2012 /PRNewswire/ -- American Electric Power (NYSE: AEP) and its AEP Ohio operating unit expressed disappointment with the order provided today by the Public Utilities Commission of Ohio (PUCO) on the company's revised Electric Security Plan (ESP).

"We are concerned by the Commission's reaction to what we believe were solvable issues on rehearing," said Nicholas K. Akins, AEP president and chief executive officer. "We are currently evaluating our options and the potential financial and operational impacts on AEP Ohio."

The company has 30 days to proceed with its initial application as filed, or modify or withdraw the application overall.

AEP Ohio provides electricity to nearly 1.5 million customers of major AEP subsidiaries Columbus Southern Power Company and Ohio Power Company in Ohio, and Wheeling Power Company in the northern panhandle of West Virginia. AEP Ohio is based in Gahanna, Ohio, and is a unit of American Electric Power. News and information about AEP Ohio can be found at aepohio.com.

American Electric Power is one of the largest electric utilities in the United States, delivering electricity to more than 5 million customers in 11 states. AEP ranks among the nation's largest generators of electricity, owning nearly 38,000 megawatts of generating capacity in the U.S. AEP also owns the nation's largest electricity transmission system, a nearly 39,000-mile network that includes more 765-kilovolt extra-high voltage transmission lines than all other U.S. transmission systems combined. AEP's transmission system directly or indirectly serves about 10 percent of the electricity demand in the Eastern Interconnection, the interconnected transmission system that covers 38 eastern and central U.S. states and eastern Canada, and approximately 11 percent of the electricity demand in ERCOT, the transmission system that covers much of Texas. AEP's utility units operate as AEP Ohio, AEP Texas, Appalachian Power (in Virginia and West Virginia), AEP Appalachian Power (in Tennessee), Indiana Michigan Power, Kentucky Power, Public Service Company of Oklahoma, and Southwestern Electric Power Company (in Arkansas, Louisiana and east Texas). AEP's headquarters are in Columbus, Ohio.