AEP Money Pool Rule 24

 
UNITED STATES OF AMERICA
BEFORE THE SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
 
 

 
PUBLIC UTILITY HOLDING COMPANY ACT OF 1935
 
File No 70-10166
 
REPORT FOR PERIOD
 
October 1, 2004 to December 31, 2004
 
PURSUANT TO RULE 24
 
In the matter of
 
AMERICAN ELECTRIC POWER COMPANY, INC.
 
 
This Certificate of Notification is filed by American Electric Power Company, Inc., a New York corporation (“AEP”), on behalf of itself and certain of its direct and indirect subsidiaries pursuant to Rule 24 (17 C.F.R. 250.24) under the Public Utility Holding Company Act of 1935 (the “Act”). Such filing is made in connection with the Form U-1, as amended, filed by AEP in File 70-10166 and as authorized by order of the Securities and Exchange Commission (“the Commission”) dated July 1, 2004 in that file. The order directs that the applicants file with the Commission quarterly certificates pursuant to Rule 24 within 60 days after the fiscal quarter in which transactions occur. This authority replaces and supersedes authority granted in File Numbers 70-10021 and 70-10088.
 
 
This Certificate of Notification reports transactions for the quarter ended December 31, 2004.
 
 
AEP hereby certifies for itself and its subsidiaries the following:
 
 
 
AMERICAN ELECTRIC POWER COMPANY, INC., et al.
QUARTERLY REPORT PER REQUIREMENTS
OF HOLDING COMPANY ACT RELEASE NO. 27872
FILE NO. 70-10166
FOR THE QUARTER ENDED DECEMBER 31, 2004
 
 

 
Contents
     
 Item
  
 Description
     
1
  
The sales of any Common Stock by AEP and the purchase price per share of stock issued and sold pursuant to the authority.
2
  
Amount and terms of any Long-term Debt, Preferred Stock, Preferred Securities, equity-linked securities directly or indirectly issued by AEP.
3
  
The amount and terms of any Long-term Debt issued by Kingsport Power Company, Southwestern Electric Power Company, AEP Texas Central Company, AEP Texas North Company or Wheeling Power Company issued pursuant to this authority.
4
  
The amount and terms of any pollution control refinancing issued pursuant to this order.
5
  
If a guarantee is issued during the quarter pursuant to this authority, the name of the guarantor, the name of the beneficiary of the guarantee and the amount of the guarantee.
6
  
The amount and terms of any short-term debt issued by AEP, AEP Utilities, AEP Utility Money Pool Financing Subsidiary or AEP Nonutility Money Pool Financing Subsidiary or any of the Public Utility Subsidiaries during the quarter.
7
  
The notional amount and principal terms of any hedge instruments or anticipatory hedges entered into during the quarter and the identity of the other parties thereto.
8
 
  
Identification of any investments in any new Electric Wholesale Generating Companies (EWGs) or Foreign Utility Companies (FUCOs) counting against the $150 million limit for such investments.
9
  
The name, parent company and the amount invested in any financing entity during the quarter.
10
  
A table showing at the end of each quarter a capitalization chart for AEP and each of the public utility subsidiaries.
11
 
  
With respect to each participant in the Utility Money Pool and each participant in the Nonutility Money Pool, the maximum borrowings from and loans to the respective Money Pool during the quarter and the interest rate applied to borrowings and loans.
12
 
  
Upon the formation of any financing subsidiary to fund any Money Pool, a statement showing the name and date of formation of the financing subsidiary, to be supplied in the next report, as well as the date of implementation or discontinuance of any of the Money Pool funding programs.
13
  
A list of Form U-6B-2 statements filed with the Securities and Exchange Commission, including the name of the filing entity and the date of the filing.
14
  
The date, amount and payee of dividends out of capital or unearned surplus paid by any nonutility subsidiary during the quarter.
15
 
  
If any subsidiaries are Variable Interest Entities (VIEs) as that term is used in FASB Interpretation 46R, Consolidation of Variable Interest Entities, provide a descipition of any financing transactions conducted during the reporting period that were used to fund such VIEs.
16
  
If any financing proceeds are used for VIEs, a description of the accounting for such transaction under FASB Interpretation 46R.
17
  
Consolidated balance sheets as of the end of the quarter and separate balance sheets as of the end of the quarter for each company, including AEP, that engaged in jurisdictional financing transactions during the quarter.
18
 
  
A retained earnings analysis of AEP on a consolidated basis and of each utility subsidiary detailing gross earnings, goodwill amortization, dividends paid out of each capital account and the resulting capital account balances at the end of each quarter.
19
  
Future registration statements filed under the Securities Act of 1933 with respect to securities that are subject of the instant application will be filed or incorporated by reference as exhibits to the next certificate filed under rule.
20
  
Signature page.
 
 
 
Item 1
 
 
The sales of any Common Stock by AEP and the purchase price per share of stock issued and sold pursuant to the authority.
 
 
 
None
 
 
Item 2
 
 
Amount and terms of any Long-term Debt, Preferred Stock, Preferred Securities, equity-linked securities directly or indirectly issued by AEP.
 
 
 
None
 
 
 
Item 3
 
 
The amount and terms of any Long-term Debt issued by Kingsport Power Company, Southwestern Electric Power Company, AEP Texas Central Company, AEP Texas North Company or Wheeling Power Company issued pursuant to this authority.
 
 

Company
    
Type of Security Sold
    
Terms of Security
  
Total Proceeds
Kingsport Power Company
              
 
 
     Borrowing Limit - $50 million
    
None
          $
- 
 
                  
AEP Texas Central Company
                  
     Borrowing Limit - $600 million
    
 None
            
 
                  
 AEP Texas North Company
                  
     Borrowing Limit - $250 million
    
 None
            
 
                  
Southwestern Electric Power Company
                  
     Borrowing Limit - $600 million
    
 None
            
                   
Wheeling Power Company
                  
     Borrowing Limit - $50 million
    
 None
            
 
Item 4
 
 
The amount and terms of any pollution control refinancing issued pursuant to this order.
 
 
None
 
 
 
Item 5
 
 
If a guarantee is issued during the quarter pursuant to this authority, the name of the guarantor, the name of the beneficiary of the guarantee and the amount of the guarantee.
 

Guarantor
  
Subsidiary
  
Amount of Guarantee
(in thousands)
AEP
  
AEP Energy Services, Inc.
  
$
22,448
 AEP
  
 Houston Pipeline Company LP
    
 12,844
 AEP
  
 AEP Gas Marketing LP
    
 300
 
 
Item 6
 
 
The amount and terms of any short-term debt issued by AEP, AEP Utilities, Inc., AEP Utility Money Pool Financing Subsidiary or AEP Nonutility Money Pool Financing Subsidiary or any of the public utility subsidiaries during the quarter.
 
 
Short-term Borrowings for the Quarter Ended December 31, 2004
(in thousands)
 

Borrower: American Electric Power Company, Inc.

Source
  
Outside Borrowings
During Period
  
Repayments During
Period
  
Amount Outstanding
at End of Period
  
Weighted Average
Interest Rate During Period
  
Commercial Paper
    $
25,000
  
$
205,000
  
$
-
        
2.33
%
Bank Credit Facility
    
-
    
-
    
-
        
-
%
                       
Total External Short-term Borrowings
  
$
25,000
  
$
205,000
  
$
-
        
2.33
%
 
 
 
Item 7
 
 
The notional amount and principal terms of any hedge instruments or anticipatory hedges entered into during the quarter and the identity of the other parties thereto.
 
 
 

AEP Legal Entity
    
Date Entered
    
Date Settled
    
Maturity Date
    
Counter Party
    
Debt Amount
(in millions)
 
  
Rate Given to Couterparty
    
Rate Received by AEP
  
 
    
 
    
 
    
 
    
 
  
 
 
    
 
 
  
 
 
 None                                            
 
Item 8
 
 
Identification of any investments in any new Electric Wholesale Generating Companies (EWGs) or Foreign Utility Companies (FUCOs) counting against the $150 million limit for such investments.
 
 
None
 
 
 
 
Item 9
 
 
The name, parent company and the amount invested in any financing entity during the quarter.
 
 
 
AEP Utility Funding LLC and AEP Nonutility Funding LLC received capital contributions in the amount of $250,000 each from their parent (AEP) on December 30, 2004.
 
 
 
 
Item 10
 
 
A table showing at the end of each quarter a capitalization chart for AEP and each of the public utility subsidiaries.
 

CAPITALIZATION STRUCTURE
 (as of December 31, 2004)
 ($s in thousands)
                     
                     
   
Common Equity
  
Preferred Stock (a)
  
Long-term Debt 
  
Short-term Debt (b)
  
Total Capitalization
Company
  
Amount
  
%
  
Amount
  
%
  
Amount
  
%
  
Amount
  
%
  
Amount
  
%
American Electric Pwer Company, Inc.
  
$8,515,000
 
40.8%
  
$61,000
 
0.3%
  
$12,287,000
 
58.8%
  
$23,000
 
0.1%
  
$20,886,000
 
100.0%
AEP Generating Company
  
48,671
 
40.4%
  
-
 
0.0%
  
44,820
 
37.2%
  
26,915
 
22.4%
  
120,406
 
100.0%
AEP Texas Central Company
  
1,268,643
 
39.9%
  
5,940
 
0.2%
  
1,907,294
 
59.9%
  
207
 
0.0%
  
3,182,084
 
100.0%
AEP Texas North Company
  
310,421
 
49.5%
  
2,357
 
0.4%
  
314,357
 
50.1%
  
-
 
0.0%
  
627,135
 
100.0%
Appalachian Power Company
  
1,409,718
 
41.2%
  
17,784
 
0.5%
  
1,784,598
 
52.1%
  
211,060
 
6.2%
  
3,423,160
 
100.0%
Columbus Southern Power Company
  
898,650
 
47.6%
  
-
 
0.0%
  
987,626
 
52.4%
  
-
 
0.0%
  
1,886,276
 
100.0%
Indiana Michigan Power Company
  
1,091,498
 
44.1%
  
69,529
  
2.8%
  
1,312,843
 
53.1%
  
-
 
0.0%
  
2,473,870
 
100.0%
Kentucky Power Company
  
320,980
 
38.7%
  
-
  
0.0%
  
508,310
  
61.3%
  
-
 
0.0%
  
829,290
 
100.0%
Kingsport Power Company
  
25,358
  
53.3%
  
-
 
0.0%
  
20,000
  
42.0%
  
2,230
  
4.7%
  
47,588
  
100.0%
Ohio Power Company
  
1,473,838
 
41.7%
  
21,641
 
0.6%
  
2,011,060
 
57.0%
  
23,498
 
0.7%
  
3,530,037
 
100.0%
Public Service Company of Oklahoma
  
529,256
 
46.6%
  
5,262
 
0.5%
  
546,092
 
48.1%
  
55,002
 
4.8%
  
1,135,612
 
100.0%
Southwestern Electric Power Company
  
768,618
 
48.7%
  
4,700
 
0.3%
  
805,369
 
51.0%
  
-
 
0.0%
  
1,578,687
 
100.0%
Wheeling Power Company
  
36,143
  
59.1%
  
-
  
0.0%
  
25,000
  
40.9%
  
-
 
0.0%
  
61,143
  
100.0%
 

(a)
Preferred stock includes Cumulative Preferred Stock Subject to Mandatory Redemption and Cumulative Preferred Stock not Subject to Mandatory Redemption.
   
 (b)
Short-term Debt includes both Short-term Debt and Advances from Affiliates. 
 
 
 
 
Item 11
 
 
With respect to each participant in the Utility Money Pool and each participant in the Nonutility Money Pool, the maximum borrowings from and loans to the respective Money Pool during the quarter and the interest rate applied to borrowings and loans.
 
 
Nonutility Money Pool Internal Maximum Short-term Borrowings and Loans
  
for the Quarter Ended December 31, 2004
  
(in thousands)
  
   
   
Maximum Borrowings
from Nonutility
Money Pool
  
Maximum
Loans
to Nonutility
Money Pool
  
AEP Acquisition LLC
  
$
850
  
$
-
  
AEP C&I Company LLC
    
7,048
    
-
  
AEP Coal, Inc.
    
76,654
    
-
  
AEP Coal Marketing, LLC
    
3,380
    
32,425
  
AEP Communications, Inc.
    
-
    
1,415
  
AEP Communications LLC
    
64,109
    
2,737
  
AEP Delaware Investment Company
    
-
    
-
  
AEP Delaware Investment Company II
    
-
    
-
  
AEP Desert Sky GP, LLC
    
-
    
-
  
AEP Desert Sky LP, LLC
    
20,043
    
-
  
AEP Elmwood LLC
    
-
    
3,893
  
AEP EmTech LLC
    
13,102
    
-
  
AEP Energy Services, Inc.
    
338,304
    
-
  
AEP Energy Services Ltd.
    
24,072
    
-
  
AEP Energy Services Investments, Inc.
    
-
    
-
  
AEP Energy Services Gas Holding Company
    
354,225
    
-
  
AEP Energy Services UK Generation Ltd.
    
-
    
-
  
AEP Fiber Venture LLC
    
23,787
    
1
  
AEP Gas Marketing LP
    
-
    
54,349
  
AEP Gas Power GP, LLC
    
16,640
    
163
  
AEP Holdings I CV
    
-
    
-
  
AEP Holdings II CV
    
-
    
-
  
AEP Investments, Inc.
    
59,315
    
-
  
 AEP MEMCo LLC      22,161      -  
 AEP Ohio Retail Energy LLC      -      -  
 AEP Power Marketing, Inc.      -     -  
 AEP ProServ, Inc.      -      20,661  
 AEP Resources, Inc.      175,103      -  
 AEP T&D Services LLC     -      326  
 AEP Texas C&I Retail GP, LLC     210      -  
 AEP Texas C&I Retail LP     -      15,345  
 AEP Texas POLR LLC     1,181      -  
 C3 Communications, Inc.     46,682      24  
 C3 Networks GP, LLC     -      -  
 C3 Networks LP     -      -  
 C3 Networks & Communications LP         -      -  
 CSW Development I, Inc.     -      -  
 CSW Energy, Inc.     -      44,915  
 CSW Energy Services, Inc.     30,357      -  
 CSW International, Inc.     -      72,950  
 CSW Power Marketing, Inc.     -      -  
 CSWE/Fort Lupton, Inc.     -      -  
 Dolet Hills Lignite Company LLC (a)     2,496      2,453  
 Houston Pipeline Company LP     264,341      157,762  
 HPL Holdings, Inc.     -      -  
 Jefferson Island Storage & Hub LLC     1,333      2  
 LIG Pipeline Company     -      -  
 Mutual Energy SWEPCo LP     4,292      -  
 Mutual Energy LLC      -      6,780  
 Newgulf Power Venture, Inc.      10      -  
 NGLE Pushan Power LDC     -      -  
 NGLE International Ltd.      -      -  
 NGLE Project Management Company Ltd.      -      -  
 POLR Power LP      10,176      -  
 REP General Partner LLC     -      1,292  
 REP Holdco, Inc.      -      34,732  
 United Sciences Testing, Inc.      544      958  
 Ventures Leasing Company LLC      -      10,049  
               
 
           
(a) Dolet Hills Lignite Company LLC was a participant of the Nonutility Money Pool until November 12, 2004.  On November 12, 2004, Dolet Hills Lignite Company LLC became a member of the Utility Money Pool.
 

Weighted Average Interest Rate for Amounts Borrowed and/or Invested by the Nonutility Pool
 for the Quarter Ended December 31, 2004
       
 
Interest
Rate
  
Days
Borrowed/
Invested
Weighted average interest rate for borrowed funds
2.35
%
  
92
Weighted average interest rate for invested funds
0.00
%
  
-
 
 
 
 
Item 11 (CONTINUED)
 
 
With respect to each participant in the Utility Money Pool and each participant in the Nonutility Money Pool, the maximum borrowings from and loans to the respective Money Pool during the quarter and the interest rate applied to borrowings and loans.
 
 


Utility Money Pool Internal Maximum Short-term Borrowings and Loans
  
for the Quarter Ended December 31, 2004
  
(in thousands)
  
 
  
   
Maximum Borrowings
from Utility
Money Pool
  
Maximum
Loans
to Utility
Money Pool
  
AEP Generating Company
  
$
47,494
  
$
932
  
AEP Service Corporation
    
55,146
    
105,923
  
AEP Texas Central Company
    
207
    
232,758
  
AEP Texas North Company
    
-
    
110,430
  
Appalachian Power Company
    
234,469
    
-
  
Blackhawk Coal Company
    
-
    
19,023
  
Cedar Coal Company
    
-
    
12,804
  
Central Appalachian Coal Company
    
-
    
1,745
  
Central Coal Company
    
-
    
415
  
Colomet Inc.
    
-
    
2,963
  
Columbus Southern Power Company
    
-
    
175,031
  
Conesville Coal Prep Company
    
-
    
3,177
  
Dolet Hills Lignite Company LLC (a)     2,767      968  
Franklin Real Estate Company
    
359
    
1,303
  
Indiana Franklin Realty
    
44
    
19
  
Indiana Michigan Power Company
    
138,395
    
52,376
  
Kentucky Power Company
    
-
    
41,501
  
Kingsport Power Company
    
4,972
    
1,022
  
Ohio Power Company
    
-
    
230,039
  
Public Service Company of Oklahoma
    
66,145
    
35,158
  
Simco Inc.
    
-
    
476
  
Southern Appalachian Coal Company
    
-
    
9,847
  
Southwestern Electric Power Company
    
-
    
107,966
  
Wheeling Power Company
    
-
    
11,332
  
               
               
 
(a) Dolet Hills Lignite Company LLC was a participant of the Nonutility Money Pool until November 12, 2004.  On November 12, 2004, Dolet Hills Lignite Company LLC became a member of the Utility Money Pool.

 

Weighted Average Interest Rate for Amounts Borrowed and/or Invested by the Utility Money Pool
 for the Quarter Ended December 31, 2004
 
       
 
Interest
Rate
  
Days
Borrowed/
Invested
Weighted average interest rate for borrowed funds
0.00
%
  
0
Weighted average interest rate for invested funds
1.83
%
  
92
 
 
 
 
Item 12
 
Upon the formation of any financing subsidiary to fund any Money Pool, a statement showing the name and date of formation of the financing subsidiary, to be supplied in the next report, as well as the date of implementation or discontinuance of any of the Money Pool funding programs.
 
 
None
 
Item 13
 
A list of Form U-6B-2 statements filed with the Securities and Exchange Commission, including the name of the filing entity and the date of the filing.
 

Filing
  
Company
  
Filing Date
U-6B-2
  
American Electric Power Company, Inc.
  
October 8, 2004
         
 U-6B-2
  
 American Electric Power Company, Inc.
  
 October 19, 2004
         
 U-6B-2
  
Indiana Michigan Power Company
  
 November 19, 2004
 
 
 
Item 14
 
The date, amount and payee of dividends out of capital or unearned surplus paid by any nonutility subsidiary during the quarter.
 
 

 Dividend Paid by  
Date Paid
  
Amount
  
Dividends Paid to
  
AEP Energy Services Gas
Holding Company II, LLC
  
November 4, 2004
  
$
115,000,000
  
AEP Energy Services Gas Holding Company
  
AEP Energy Services Gas
Holding Company II, LLC
  
December 15, 2004
    
4,921,031
  
AEP Energy Services Gas Holding Company
  
 HPL Holdings, Inc.
 
 December 15, 2004
 
 
20,000,000
 
 AEP Energy Services Gas Holding Company II, LLC
  
 AEP MEMCo LLC
  
 December 15, 2004
     4,500,000  
 AEP Resources, Inc.
  
 
 
 
 
 
 
Item 15
 
 
If any subsidiaries are Variable Interest Entities (VIEs) as that term is used in FASB Interpretation 46R, Consolidation of Variable Interest Entities, provide a description of any financing transactions conducted during the reporting period that were used to fund such VIEs.
 
 
AEP Utility Funding LLC and AEP Nonutility Funding LLC are VIEs.  They are both financial conduits formed to fund the AEP Utility Money Pool and the AEP Nonutility Money Pool.  They each received capital contributions from their parent during the fourth quarter of 2004 (see Item 9 above).  Additional funds required to fund both money pools are currently provided by AEP.
 
 
Item 16
 
 
If any financing proceeds are used for VIEs, a description of the accounting for such transaction under FASB Interpretation 46R.
 
 
Contributions were accounted for as an increase in cash and an increase in common equity-paid-in capital on the ledgers of AEP Utility Funding LLC and AEP Nonutility Funding LLC.
 
 
Item 17
 
 
Consolidated balance sheets as of the end of the quarter and separate balance sheets as of the end of the quarter for each company, including AEP, that has engaged in jurisdictional financing transactions during the quarter.
 
 
See the following Balance Sheets previously filed with the SEC as part of AEP's Combined Form 10K for the year ended December 31, 2004:

 
 
American Electric Power Company, Inc.
AEP Generating Company
AEP Texas Central Company
AEP Texas North Company
Appalachian Power Company
Columbus Southern Power Company
Indiana Michigan Power Company
Kentucky Power Company
Ohio Power Company
Public Service Company of Oklahoma
Southwestern Electric Power Company
 
 
 
Item 17 (CONTINUED)
 
 
Consolidated balance sheets as of the end of the quarter and separate balance sheets as of the end of the quarter for each company, including AEP, that has engaged in jurisdictional financing transactions during the quarter.
 
 
Shown below are the Balance Sheets for Kingsport Power Company and Wheeling Power Company which do not file Form 10K with the SEC:
 

 
KINGSPORT POWER COMPANY
  
BALANCE SHEET
  
ASSETS
  
AS OF DECEMBER 31, 2004
  
(in thousands)
  
(Unaudited)
  
 
  
 
  
2004
  
ELECTRIC UTILITY PLANT
      
    Transmission
  
$
16,446
  
    Distribution
    
83,189
  
    General
    
5,617
  
    Construction Work in Progress
    
1,166
  
    TOTAL
   
106,418
  
    Accumulated Depreciation
    
42,224
  
    TOTAL - NET
    
64,194
  
         
OTHER PROPERTY AND INVESTMENTS
        
         
    Non-Utility Property, Net
    
109
  
    Other
    
62
  
    TOTAL
    
171
  
         
CURRENT ASSETS
        
         
    Cash and Cash Equivalents
    
31
  
    Accounts Receivable:
    
 
       Customers
    
1,933
  
       Affiliated Companies
    
1,623
  
       Accrued Unbilled Revenues
    
1,723
  
       Miscellaneous     8  
       Allowance for Uncollectible Accounts     (15 ) 
    Materials and Supplies
    
180
  
    Prepayments
    
1,090
  
    Other
    
144
  
    TOTAL
   
6,717
  
         
DEFERRED DEBITS AND OTHER ASSETS
        
         
    Regulatory Assets:
    
 
       SFAS 109 Regulatory Asset, Net
    
5,325
  
       Other
    
180
  
    Deferred Charges
    
230
  
    TOTAL
   
5,735
  
    TOTAL ASSETS 
  
$
76,817
  
 
 
 
Item 17 (CONTINUED)
 
 
Consolidated balance sheets as of the end of the quarter and separate balance sheets as of the end of the quarter for each company, including AEP, that has engaged in jurisdictional financing transactions during the quarter.
 

KINGSPORT POWER COMPANY
  
BALANCE SHEET
  
CAPITALIZATION AND LIABILITIES
  
AS OF DECEMBER 31, 2004
  
(in thousands)
  
(Unaudited)
  
 
  
 
  
2004
  
CAPITALIZATION
      
    Common Shareholder's Equity:
  
 
 
  
      Common Stock - No Par Value:        
        Authorized - 500,000 Shares        
        Outstanding - 410,000 Shares   $  4,100  
    Paid-in Capital
    
13,800
  
    Accumulated Other Comprehensive Income (Loss)
    
(2,204
 ) 
    Retained Earnings     9,662  
    Total Common Shareholder's Equity     25,358  
    Long-term Debt Affiliated
    
20,000
  
    TOTAL
   
45,358
  
         
         
CURRENT LIABILITIES
        
    Advances from Affiliates     2,230  
    Accounts Payable:
    
 
  
       General
    
393
  
       Affiliated Companies
    
7,726
  
    Customer Deposits
    
1,937
  
    Taxes Accrued
    
2,311
  
    Interest Accrued      490  
    Obligations Under Capital Leases      176  
    Other
    
980
  
    TOTAL
   
16,243
  
         
DEFERRED CREDITS AND OTHER LIABILITIES
        
    Deferred Income Taxes     11,735  
    Regulatory Liabilities:
    
 
  
       Deferred Investment Tax Credits
    
516
  
       Asset Removal Costs     34  
    Deferred Credits
    
348
  
    Obligations Under Capital Leases
    
279
  
    Other      2,304  
    TOTAL      15,216  
    TOTAL CAPITALIZATION AND LIABILITIES 
  
$
76,817
  
 

 
 
Item 17 (CONTINUED)
 
 
Consolidated balance sheets as of the end of the quarter and separate balance sheets as of the end of the quarter for each company, including AEP, that has engaged in jurisdictional financing transactions during the quarter.
 
WHEELING POWER COMPANY
  
BALANCE SHEET
  
ASSETS
  
AS OF DECEMBER 31, 2004
  
(in thousands)
  
(Unaudited)
  
 
  
 
 
 2004
  
ELECTRIC UTILITY PLANT
      
    Transmission
  
$
23,974
  
    Distribution
    
82,178
  
    General
    
7,176
  
    Construction Work in Progress
    
3,239
  
    TOTAL
   
116,567
  
    Accumulated Depreciation
    
50,510
  
    TOTAL - NET
    
66,057
  
         
OTHER PROPERTY AND INVESTMENTS
        
         
    Non-Utility Property, Net
    
17
  
    Other
    
28
  
    TOTAL
    
45
  
         
CURRENT ASSETS
        
         
    Cash and Cash Equivalents
    
42
  
    Other Cash Deposits     6  
    Advances to Affiliates      9,348  
    Accounts Receivable:
    
 
       Customers
    
6,527
  
       Affiliated Companies
    
1,132
  
       Accrued Unbilled Revenues
    
4,339
  
       Miscellaneous      6  
       Allowance for Uncollectible Accounts      (103 ) 
    Materials and Supplies
    
106
  
    Prepayments and Other
    
416
  
    TOTAL
   
21,819
  
         
DEFERRED DEBITS AND OTHER ASSETS
        
         
    Regulatory Assets:
    
 
       SFAS 109 Regulatory Asset, Net
    
9,999
  
       Other
    
442
  
    Deferred Property Taxes
    
1,523
  
    Deferred Charges
    
813
  
    TOTAL
   
12,777
  
         
    TOTAL ASSETS 
  
$
100,698
  
 
 
 
Item 17 (CONTINUED)
 
 
Consolidated balance sheets as of the end of the quarter and separate balance sheets as of the end of the quarter for each company, including AEP, that has engaged in jurisdictional financing transactions during the quarter.
 
 

WHEELING POWER COMPANY
  
BALANCE SHEET
  
CAPITALIZATION AND LIABILITIES
  
AS OF DECEMBER 31, 2004
  
(in thousands)
  
(Unaudited)
  
 
  
 
  
2004
  
CAPITALIZATION
      
    Common Shareholder's Equity:
  
 
 
  
      Common Stock - No Par Value:        
        Authorized and Outstanding - 150,000 Shares   $   2,428  
    Paid-in Capital
    
15,596
  
    Accumulated Other Comprehensive Income (Loss)
    
(3,156
 ) 
    Retained Earnings     21,275  
    Total Common Shareholder's Equity     36,143  
    Long-term Debt Affiliated
    
25,000
  
    TOTAL
   
61,143
  
         
         
CURRENT LIABILITIES
        
         
    Accounts Payable:
    
 
  
       General
    
820
  
       Affiliated Companies
    
7,886
  
    Customer Deposits
    
947
  
    Taxes Accrued
    
6,725
  
    Interest Accrued      70  
    Obligations Under Capital Leases      171  
    Other
    
1,162
  
    TOTAL
   
17,781
  
         
DEFERRED CREDITS AND OTHER LIABILITIES
        
         
    Deferred Income Taxes      15,335  
    Regulatory Liabilities:
    
 
  
       Asset Removal Costs     303  
    Deferred Credits
    
77
  
    Obligations Under Capital Leases
    
353
  
    Other      5,706  
    TOTAL      21,774  
    TOTAL CAPITALIZATION AND LIABILITIES 
  
$
100,698
  
 
 
Item 18 
 
 
A Retained Earnings analysis of AEP on a consolidated basis and of each utility subsidiary detailing gross earnings, goodwill amortization, dividends paid out of each capital account and the resulting capital account balances as of the end of the quarter.
 
 
See the following Statements of Changes in Common Shareholder's Equity and Comprehensive Income previously filed as part of AEP's Combined Form 10K for the year ended December 31, 2004:
 
 
American Electric Power Company, Inc.
AEP Generating Company
AEP Texas Central Company
AEP Texas North Company
Appalachian Power Company
Columbus Southern Power Company
Indiana Michigan Power Company
Kentucky Power Company
Ohio Power Company
Public Service Company of Oklahoma
Southwestern Electric Power Company
 
 
Shown below are the Statements of Retained Earnings for Kingsport Power Company and Wheeling Power Company which do not file Form 10K with the SEC:
 

KINGSPORT POWER COMPANY
STATEMENT OF RETAINED EARNINGS
AS OF DECEMBER 31, 2004
(in thousands)
(Unaudited)
 
Retained Earnings - December 31, 2003
  $
9,108
  
Net Income
  
3,345
  
Goodwill Amortization
  
-
  
Common Stock Dividends
  
(2,791
 ) 
Preferred Stock Dividends
  
-
 
Capital Stock Expense
  
-
  
Retained Earnings - December 31, 2004 
  $
9,662
  
 

WHEELING POWER COMPANY
STATEMENT OF RETAINED EARNINGS
AS OF DECEMBER 31, 2004
(in thousands)
(Unaudited)
 
Retained Earnings - December 31, 2003
  $
18,178
  
Net Income
  
6,810
  
Goodwill Amortization
  
-
  
Common Stock Dividends
  
(3,713
 ) 
Preferred Stock Dividends
  
-
 
Capital Stock Expense
  
-
  
Retained Earnings - December 31, 2004 
  $
21,275
  
 
 
 
Item 19 
 
 
Future registration statements filed under the Securities Act of 1933 with respect to securities that are subject of the instant application will be filed or incorporated by reference as exhibits to the next certificate filed under the rule.
  
 
 
None
 
 
 
Item 20 
 
 
Said transactions have been carried out in accordance with the terms and conditions of, and for the purpose represented in, the Form U-1 Application-Declaration, as amended, of AEP, et al, in File No. 70-10166 and in accordance with the terms and conditions of the Commission’s order dated July 1, 2004, permitting said Application-Declaration to become effective.
 
 
 
 
SIGNATURE
 
 
As required by order of this Commission pursuant to the Public Utility Holding Company Act of 1935, American Electric Power Company, Inc. for itself and its subsidiaries have duly caused this report to be signed on its behalf on this 2nd day of March, 2005.
 
 

 
 
/s/ Rebecca J. Buonavolonte
Rebecca J. Buonavolonte
Managing Director - Financial Reporting
American Electric Power Service Corporation