News for American Electric Power
Nov 11 · 3:49:00 PM · Source: PR Web
The Office of the Ohio Consumers' Counsel (OCC) is back in court trying to stop American Electric Power from collecting hundreds of millions of dollars in unlawful rate increases.
The consumer advocate filed a new appeal of the company’s rate plan with the Supreme Court of Ohio (case # 09-2022). The action follows the court’s October 29 dismissal of the OCC’s first appeal because the Public Utilities Commission of Ohio (PUCO) had not ruled on two applications for reconsideration filed by the OCC and other parties.
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by Michael Oliveto
Nov 3 · 1:26:00 PM · Source: AP
American Electric Power is being required by The U.S. Environmental Protection Agency to conduct safety tests on waste impoundments at a West Virginia coal-burning plant to ensure their structural stability.
Although the impoundments at the Philip Sporn plant aren't considered an immediate failure risk, EPA said it was requiring the tests because the structures have similar designs to one that failed last December in Tennessee.
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by Michael Oliveto
Oct 29 · 9:44:00 AM · Source: Company News Release
American Electric Power today reported 2009 third-quarter earnings of $443 million, or $0.93 per share, compared with $374 million, or $0.93 per share, for third-quarter 2008. Revenue dropped 16% to $3.5 billion as cool summer weather and the ongoing recession weighed on sales.
Company CEO said company's sales to industrial customers in the third quarter were down 17 percent from a year ago, a slight improvement from second quarter, when industrial sales were down 20 percent.
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by Larry Etter
Oct 28 · 12:22:00 PM · Source: Trading Markets
American Electric Power Co declared on Tuesday a regular quarterly cash dividend of $0.41 per share on the company's common stock.
This dividend is due on 10 December 2009 to shareholders of record as of 10 November 2009.
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by Michael Oliveto
Oct 23 · 11:53:00 AM · Source: NASDAQ
American Electric Power Co. Inc. reported that the Arkansas Supreme Court will review a lower-court decision overturning a key construction permit for a $1.6 billion coal-fired power plant that a unit of the company is building in the state.
"Obviously we are very pleased that the Supreme Court has chosen to review the case," said Paul Chodak, president and chief operating officer of Southwestern Electric, a unit of AEP, in a press release. He said the permit was rejected by the lower court because of the approval process rather than the merits of building the plant.
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by Michael Oliveto
Oct 21 · 12:02:00 PM · Source: Reuters
American Electric Power Co Inc announced that its 1,009-megawatt Unit 1 at the Cook nuclear power station in Michigan is now planned to restart by the end of 2009.
In previous statements, AEP said it expected Unit 1 to return in 2009 as early as October. A spokesman for the company now said the unit would not return in October but the company still expected the unit to return in 2009. If the repairs were not successful for an October restart, the company had said, it could remain shut until 2011.
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by Michael Oliveto
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