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
 
January 1, 2005 to March 31, 2005
 
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 March 31, 2005.
 
 
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 MARCH 31, 2005
 
 

 
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, Inc., AEP Utility Funding LLC or AEP Nonutility Funding LLC 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 description 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
  
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.
 
$111,700,000 Matagorda County Navigation District Number One Pollution Control Revenue Refunding Bonds (AEP Texas Central Company Project) Series 2005 A - Due 2030, Variable Interest Rate.
 
$50,000,000 Matagorda County Navigation District Number One Pollution Control Revenue Refunding Bonds (AEP Texas Central Company Project) Series 2005 B - Due 2030, Variable Interest Rate.
 
 
 
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 Coal Marketing, LLC
  
$
2,911
 
 
Item 6
 
 
The amount and terms of any short-term debt issued by AEP, AEP Utilities, Inc., AEP Utility Funding LLC or AEP Nonutility Funding LLC or any of the public utility subsidiaries during the quarter.
 
 
Short-term Borrowings for the Quarter Ended March 31, 2005
(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
  
$
25,000
  
$
-
        
2.59
%
Bank Credit Facility
    
-
    
-
    
-
        
-
%
                       
Total External Short-term Borrowings
  
$
25,000
  
$
25,000
  
$
-
        
2.59
%
 
 
 
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
  
 Settlement Date
  
 Maturity Date
  
 Counter Party
  
 Debt Amount
(in millions)
  
 Rate Given to Counterparty
  
 Rate Received by AEP
 
  
 
  
 
  
 
  
 
  
 
  
 
  
 
  
 American Electric Power Company, Inc.     1/19/2005     6/13/2005     6/13/2005    
Caylon
   $ 75     3.56 %   3.51 %
 American Electric Power Company, Inc.     1/21/2005     6/13/2005     6/13/2005    
West LB
     75     3.42 %   3.37 %
American Electric Power Company, Inc.     3/17/2005     6/13/2005     6/13/2005    
RBS
     75     3.86 %   3.81 %
 Appalachian Power Company     1/24/2005     6/15/2005     6/15/2015    
UBS
     25     4.63 %   4.63 %
 Appalachian Power Company     1/28/2005     6/15/2005     6/15/2010    
CSFB
     25     4.21 %   4.21 %
 Appalachian Power Company     2/4/2005     6/15/2005     6/15/2015    
ABN-AMRO
     25     4.55 %   4.55 %
 Public Service Company of Oklahoma     2/4/2005     5/17/2005     5/17/2010    
BNP
     25     4.16 %   4.16 %
 
 
 
 
 
 
 
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.
 
 
None
 
 
 
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 March 31, 2005)
 ($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.
  
$8,268,000
  
39.9%
  
$61,000
 
0.3%
  
$12,359,000
  
59.7%
  
$19,000
 
0.1%
  
$20,707,000
  
100.0%
AEP Generating Company
  
50,247
  
49.2%
  
-
 
0.0%
  
44,822
 
43.8%
  
7,131
  
7.0%
  
102,200
 
100.0%
AEP Texas Central Company
  
1,265,384
  
38.3%
  
5,940
 
0.2%
  
1,789,692
  
54.3%
  
238,693
  
7.2%
  
3,299,709
  
100.0%
AEP Texas North Company
  
307,588
  
49.3%
  
2,357
 
0.4%
  
314,382
 
50.3%
  
-
 
0.0%
  
624,327
  
100.0%
Appalachian Power Company
  
1,548,480
  
43.6%
  
17,784
 
0.5%
  
1,982,734
  
55.9%
  
-
  
0.0%
  
3,548,998
  
100.0%
Columbus Southern Power Company
  
911,844
  
48.0%
  
-
 
0.0%
  
987,691
 
52.0%
  
-
 
0.0%
  
1,899,535
  
100.0%
Indiana Michigan Power Company
  
1,103,769
  
43.8%
  
8,084
  
0.3%
  
1,314,137
  
52.1%
  
95,967
  
3.8%
  
2,521,957
  
100.0%
Kentucky Power Company
  
328,238
  
39.3%
  
-
  
0.0%
  
507,375
  
60.7%
  
-
 
0.0%
  
835,613
  
100.0%
Kingsport Power Company
  
25,473
  
51.6%
  
-
 
0.0%
  
20,000
  
40.5%
  
3,876
  
7.9%
  
49,349
  
100.0%
Ohio Power Company
  
1,557,702
  
43.2%
  
16,641
  
0.5%
  
2,006,718
  
55.8%
  
18,702
  
0.5%
  
3,599,763
  
100.0%
Public Service Company of Oklahoma
  
520,215
  
46.8%
  
5,262
 
0.5%
  
546,121
 
49.1%
  
39,588
  
3.6%
  
1,111,186
  
100.0%
Southwestern Electric Power Company
  
766,737
  
48.7%
  
4,700
 
0.3%
  
802,999
  
51.0%
  
-
 
0.0%
  
1,574,436
  
100.0%
Wheeling Power Company
  
36,874
  
59.6%
  
-
  
0.0%
  
25,000
  
40.4%
  
-
 
0.0%
  
61,874
  
100.0%
 

(a)
Preferred stock includes Cumulative Preferred Stock of Subsidiaries 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 March 31, 2005
  
(in thousands)
  
   
   
Maximum Borrowings
from Nonutility
Money Pool
  
Maximum
Loans
to Nonutility
Money Pool
  
AEP Acquisition LLC
  
$
3,879
  
$
-
  
AEP C&I Company LLC
    
7,080
    
-
  
AEP Coal, Inc.
    
3,122
    
25,212
  
AEP Coal Marketing, LLC
    
-
    
37,838
  
AEP Communications, Inc.
    
-
    
4,980
  
AEP Communications LLC
    
22,002
    
2,737
  
AEP Delaware Investment Company
    
-
    
-
  
AEP Delaware Investment Company II
    
-
    
-
  
AEP Desert Sky GP, LLC
    
-
    
-
  
AEP Desert Sky LP, LLC
    
20,283
    
-
  
AEP Elmwood LLC
    
431
    
4,589
  
AEP EmTech LLC
    
13,568
    
-
  
AEP Energy Services, Inc.
    
126,493
    
4,119
  
AEP Energy Services Ltd.
    
8,109
    
-
  
AEP Energy Services Investments, Inc.
    
-
    
-
  
AEP Energy Services Gas Holding Company
    
401,580
    
292,336
  
AEP Energy Services UK Generation Ltd.
    
-
    
-
  
AEP Fiber Venture LLC
    
260
    
20,628
  
AEP Gas Marketing LP
    
152,351
    
98,940
  
AEP Gas Power GP, LLC
    
-
    
2,117
  
AEP Holdings I CV
    
-
    
-
  
AEP Holdings II CV
    
-
    
-
  
AEP Investments, Inc.
    
60,213
    
-
  
 AEP MEMCo LLC     16,527      -  
 AEP Ohio Retail Energy LLC      -      -  
 AEP Power Marketing, Inc.      -     -  
 AEP ProServ, Inc.      -     18,052  
 AEP Resources, Inc.      316,193     716,229  
 AEP T&D Services LLC     -     299  
 AEP Texas C&I Retail GP, LLC     212      -  
 AEP Texas C&I Retail LP     -      16,535  
 AEP Texas POLR LLC     1,289      -  
 C3 Communications, Inc.     247     4,248  
 C3 Networks GP, LLC     -      -  
 C3 Networks LP     -      -  
 C3 Networks & Communications LP         -      -  
 CSW Development I, Inc.     -      -  
 CSW Energy, Inc.     -     80,816  
 CSW Energy Services, Inc.     27,783     1,880  
 CSW International, Inc.     -      73,066  
 CSW Power Marketing, Inc.     -      -  
 CSWE/Fort Lupton, Inc.     -      -  
 Houston Pipeline Company LP     264,377      271,090  
 HPL Holdings, Inc.     -      -  
 Jefferson Island Storage & Hub LLC     -     -  
 LIG Pipeline Company     -      -  
 Mutual Energy SWEPCo LP     5,388      -  
 Mutual Energy LLC      -     6,793  
 Newgulf Power Venture, Inc.      10      -  
 NGLE Pushan Power LDC     -      -  
 NGLE International Ltd.      -      -  
 NGLE Project Management Company Ltd.      -      -  
 POLR Power LP      10,140      -  
 REP General Partner LLC     -     1,299  
 REP Holdco, Inc.      -     151,793  
 United Sciences Testing, Inc.     723     -  
 Ventures Leasing Company LLC     1,238      9,719  
 

Weighted Average Interest Rate for Amounts Borrowed and/or Invested by the Nonutility Pool
 for the Quarter Ended March 31, 2005
       
 
Interest
Rate
  
Days
Borrowed/
Invested
Weighted average interest rate for borrowed funds
2.41
%
  
42
Weighted average interest rate for invested funds
2.64
%
  
48
 
 
 
 
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 March 31, 2005
  
(in thousands)
  
 
  
   
Maximum Borrowings
from Utility
Money Pool
  
Maximum
Loans
to Utility
Money Pool
  
AEP Generating Company
  
$
45,694
  
$
-
  
AEP Service Corporation
    
47,672
    
158,529
  
AEP Texas Central Company
    
238,692
    
120,937
  
AEP Texas North Company
    
-
    
75,045
  
Appalachian Power Company
    
259,813
    
18,593
  
Blackhawk Coal Company
    
-
    
21,643
  
Cedar Coal Company
    
-
    
16,938
  
Central Appalachian Coal Company
    
-
    
1,942
  
Central Coal Company
    
-
    
558
  
Colomet Inc.
    
-
    
4,491
  
Columbus Southern Power Company
    
-
    
175,187
  
Conesville Coal Preparation Company
    
-
    
3,512
  
Dolet Hills Lignite Company LLC     4,267     6,615  
Franklin Real Estate Company
    
236
    
95
  
Indiana Franklin Realty
    
35
    
109
  
Indiana Michigan Power Company
    
117,513
    
-
  
Kentucky Power Company
    
-
    
35,779
  
Kingsport Power Company
    
5,703
    
4,780
  
Ohio Power Company
    
-
    
182,495
  
Public Service Company of Oklahoma
    
55,009
    
-
  
Simco Inc.
    
-
    
522
  
Southern Appalachian Coal Company
    
-
    
10,335
  
Southwestern Electric Power Company
    
-
    
64,909
  
Wheeling Power Company
    
-
    
10,552
  

 

Weighted Average Interest Rate for Amounts Borrowed and/or Invested by the Utility Money Pool
 for the Quarter Ended March 31, 2005
 
       
 
Interest
Rate
  
Days
Borrowed/
Invested
Weighted average interest rate for borrowed funds
2.94
%
  
2
Weighted average interest rate for invested funds
2.14
%
  
88
 
 
 
 
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.
  
January 10, 2005
 U-6B-2
  
Appalachian Power Company
  
January 26, 2005
 
 
 
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
  
Diversified Energy Contractors Company, LLC
  
2/23/2005
  
$
8,000,000
  
AEP Pro Serv, Inc.
  
AEP Pro Serv, Inc.
  
2/23/2005
    
3,000,000
  
American Electric Power Company, Inc.
  
 CSW International, Inc.
 
2/23/2005
 
 
62,000,000
 
 AEP Utilities, 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.
 
 
None.
 
 
Item 16
 
 
If any financing proceeds are used for VIEs, a description of the accounting for such transaction under FASB Interpretation 46R.
 
 
None.
 
 
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 10Q for the quarter ended March 31, 2005:

 
 
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 10Q with the SEC:
 

 
KINGSPORT POWER COMPANY
  
BALANCE SHEET
  
ASSETS
  
AS OF MARCH 31, 2005
  
(in thousands)
  
(Unaudited)
  
 
  
 
  
2005
  
ELECTRIC UTILITY PLANT
      
    Transmission
  
$
16,446
  
    Distribution
    
83,913
  
    General
    
5,150
  
    Construction Work in Progress
    
843
  
    TOTAL
   
106,352
  
    Accumulated Depreciation and Amortization
    
42,415
  
    TOTAL - NET
    
63,937
  
         
OTHER PROPERTY AND INVESTMENTS
        
         
    Non-Utility Property, Net
    
97
  
    TOTAL
    
97
  
         
CURRENT ASSETS
        
         
    Cash and Cash Equivalents
    
81
  
    Accounts Receivable:
    
 
       Customers
    
1,937
  
       Affiliated Companies
    
725
  
       Accrued Unbilled Revenues
    
1,617
  
      Miscellaneous     11  
    Materials and Supplies
    
185
  
    Prepayments
    
814
  
    Other
    
225
  
    TOTAL
   
5,595
  
         
DEFERRED DEBITS AND OTHER ASSETS
        
         
    Regulatory Assets:
    
 
       SFAS 109 Regulatory Asset, Net
    
5,281
  
       Other
    
156
  
    Deferred Charges
    
243
  
   Deferred Property Taxes     808  
    TOTAL
   
6,488
  
    TOTAL ASSETS 
  
$
76,117
  
 
 
 
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 MARCH 31, 2005
  
(in thousands)
  
(Unaudited)
  
 
  
 
  
2005
  
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     9,777  
    Total Common Shareholder's Equity     25,473  
    Long-term Debt-Affiliated
    
20,000
  
    TOTAL
   
45,473
  
         
         
CURRENT LIABILITIES
        
    Advances from Affiliates     3,876  
    Accounts Payable:
    
 
  
       General
    
132
  
       Affiliated Companies
    
6,334
  
    Customer Deposits
    
1,962
  
    Taxes Accrued
    
1,941
  
    Interest Accrued     511  
    Obligations Under Capital Leases     172  
    Other
    
1,098
  
    TOTAL
   
16,026
  
         
DEFERRED CREDITS AND OTHER LIABILITIES
        
    Deferred Income Taxes     11,709  
    Regulatory Liabilities:
    
 
  
       Deferred Investment Tax Credits
    
501
  
       Asset Removal Costs     174  
    Deferred Credits
    
215
  
    Obligations Under Capital Leases
    
225
  
    Other     1,794  
    TOTAL     14,618  
    TOTAL CAPITALIZATION AND LIABILITIES 
  
$
76,117
  
 

 
 
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 MARCH 31, 2005
  
(in thousands)
  
(Unaudited)
  
 
  
 
 
 2005
  
ELECTRIC UTILITY PLANT
      
    Transmission
  
$
24,146
  
    Distribution
    
83,692
  
    General
    
6,969
  
    Construction Work in Progress
    
3,477
  
    TOTAL
   
118,284
  
    Accumulated Depreciation and Amortization
    
50,296
  
    TOTAL - NET
    
67,988
  
         
OTHER PROPERTY AND INVESTMENTS
        
         
    Non-Utility Property, Net
    
17
  
    Other
    
28
  
    TOTAL
    
45
  
         
CURRENT ASSETS
        
         
    Cash and Cash Equivalents
    
80
  
    Other Cash Deposits     6  
    Advances to Affiliates     3,972  
    Accounts Receivable:
    
 
       Customers
    
7,152
  
       Affiliated Companies
    
447
  
       Accrued Unbilled Revenues
    
4,592
  
       Miscellaneous      6  
       Allowance for Uncollectible Accounts      (98 ) 
    Materials and Supplies
    
87
  
    Prepayments
    
188
  
   Other     195  
    TOTAL
   
16,627
  
         
DEFERRED DEBITS AND OTHER ASSETS
        
         
    Regulatory Assets:
    
 
       SFAS 109 Regulatory Asset, Net
    
9,980
  
       SFAS 112 Postemployment Benefits     458  
       Other
    
216
  
    Deferred Property Taxes
    
1,269
  
    Deferred Charges
    
86
  
    TOTAL
   
12,009
  
         
    TOTAL ASSETS 
  
$
96,669
  
 
 
 
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 MARCH 31, 2005
  
(in thousands)
  
(Unaudited)
  
 
  
 
  
2005
  
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     22,006  
    Total Common Shareholder's Equity     36,874  
    Long-term Debt-Affiliated
    
25,000
  
    TOTAL
   
61,874
  
         
         
CURRENT LIABILITIES
        
         
    Accounts Payable:
    
 
  
       General
    
332
  
       Affiliated Companies
    
6,733
  
    Customer Deposits
    
963
  
    Taxes Accrued
    
4,124
  
    Interest Accrued     73  
    Obligations Under Capital Leases     152  
    Other
    
1,181
  
    TOTAL
   
13,558
  
         
DEFERRED CREDITS AND OTHER LIABILITIES
        
         
    Deferred Income Taxes      15,437  
    Regulatory Liabilities:
    
 
  
       Asset Removal Costs     294  
    Deferred Credits
    
47
  
    Obligations Under Capital Leases
    
329
  
    Other     5,130  
    TOTAL     21,237  
    TOTAL CAPITALIZATION AND LIABILITIES 
  
$
96,669
  
 
 
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 Common Shareholder's Equity and Comprehensive Income (Loss) previously filed as part of AEP's Combined Form 10Q for the quarter ended March 31, 2005:
 
 
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 10Q with the SEC:
 

KINGSPORT POWER COMPANY
STATEMENT OF RETAINED EARNINGS
AS OF MARCH 31, 2005
(in thousands)
(Unaudited)
 
Retained Earnings - December 31, 2004
  $
9,662
  
Net Income
  
1,115
  
Goodwill Amortization
  
-
  
Common Stock Dividends
  
(1,000
 ) 
Preferred Stock Dividends
  
-
 
Capital Stock Expense
  
-
  
Retained Earnings - March 31, 2005
  $
9,777
  
 

WHEELING POWER COMPANY
STATEMENT OF RETAINED EARNINGS
AS OF MARCH 31, 2005
(in thousands)
(Unaudited)
 
Retained Earnings - December 31, 2004
  $
21,275
  
Net Income
  
1,981
  
Goodwill Amortization
  
-
  
Common Stock Dividends
  
(1,250
 ) 
Preferred Stock Dividends
  
-
 
Capital Stock Expense
  
-
  
Retained Earnings - March 31, 2005
  $
22,006
  
 
 
 
Item 19
 
 
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 26th day of May, 2005.
 
 

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