American Electric Power Company Inc. (AEP, Financial) filed Quarterly Report for the period ended 2012-09-30.
American Electric Power Co Inc has a market cap of $21.82 billion; its shares were traded at around $43.74 with a P/E ratio of 14.3 and P/S ratio of 1.4. The dividend yield of American Electric Power Co Inc stocks is 4.2%.
In January 2011, the PUCO issued an order on the 2009 SEET filing, which resulted in a write-off in 2010 and a subsequent refund to customers during 2011. In May 2011, the Industrial Energy Users-Ohio and the Ohio Energy Group filed appeals with the Supreme Court of Ohio challenging the PUCO s SEET decision. In July 2011, OPCo filed its 2010 SEET filing with the PUCO based upon the approach in the PUCO s 2009 order. Subsequent testimony and legal briefs from intervenors recommended refunds of a portion of 2010 earnings. OPCo is required to file its 2011 SEET filing with the PUCO in 2012 on a separate CSPCo and OPCo company basis. The PUCO approved OPCo s request to file the 2011 SEET one month after the PUCO issues an order on the 2010 SEET. Management does not currently believe that there were significantly excessive earnings in 2011 for either CSPCo or OPCo. See “Ohio Electric Security Plan Filing” section of Note 2.
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American Electric Power Co Inc has a market cap of $21.82 billion; its shares were traded at around $43.74 with a P/E ratio of 14.3 and P/S ratio of 1.4. The dividend yield of American Electric Power Co Inc stocks is 4.2%.
Highlight of Business Operations:
In our Ohio service territory, various CRES providers are targeting retail customers by offering alternative generation service. As a result, in comparison to the third quarter of 2011 and the first nine months of 2011, we lost approximately $67 million and $165 million, respectively, of gross margin. This reduction in gross margin is partially offset by (a) collection of capacity revenues from CRES providers, (b) off-system sales, (c) deferral of unrecovered capacity costs, (d) Retail Stability Rider collections from Ohio retail distribution customers and (e) revenues from AEP Energy, our CRES provider and member of our Generation and Marketing segment. As of September 30, 2012, based upon an average annual load, approximately 42% of our Ohio load had switched to CRES providers and approximately 6% of our Ohio load had formally initiated the switching process to a CRES provider for a total of 48%. To enhance our competitive position in Ohio, AEP Energy targets retail customers, both within and outside of our retail service territory.In January 2011, the PUCO issued an order on the 2009 SEET filing, which resulted in a write-off in 2010 and a subsequent refund to customers during 2011. In May 2011, the Industrial Energy Users-Ohio and the Ohio Energy Group filed appeals with the Supreme Court of Ohio challenging the PUCO s SEET decision. In July 2011, OPCo filed its 2010 SEET filing with the PUCO based upon the approach in the PUCO s 2009 order. Subsequent testimony and legal briefs from intervenors recommended refunds of a portion of 2010 earnings. OPCo is required to file its 2011 SEET filing with the PUCO in 2012 on a separate CSPCo and OPCo company basis. The PUCO approved OPCo s request to file the 2011 SEET one month after the PUCO issues an order on the 2010 SEET. Management does not currently believe that there were significantly excessive earnings in 2011 for either CSPCo or OPCo. See “Ohio Electric Security Plan Filing” section of Note 2.
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