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American Electric Power Company

American Electric Power Company. Transmission Formula Rate AEP Appalachian Transmission Co., Inc. AEP Indiana Michigan Transmission Co., Inc. AEP Kentucky Transmission Co., Inc. AEP Ohio Transmission Co., Inc. AEP West Virginia Transmission Co., Inc. Annual Formula Rate Update June 2012.

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American Electric Power Company

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  1. American Electric Power Company Transmission Formula Rate AEP Appalachian Transmission Co., Inc. AEP Indiana Michigan Transmission Co., Inc. AEP Kentucky Transmission Co., Inc. AEP Ohio Transmission Co., Inc. AEP West Virginia Transmission Co., Inc. Annual Formula Rate Update June 2012

  2. True-up Process • Annual update for the Rate Year beginning July 1, 2012 through June 30, 2013 • True-up • Rates effective July 1, 2010 (billed January – June 2011) -- $0.41/MW Day • Rates effective July 1, 2011 (billed July – December 2011) -- $1.36/MW Day • Trued-up to Actual 2011 Cost Data with Average ending Ratebase Balances (2010-2011) -- $0.68/MW Day

  3. Regulatory Changes • July 2011 FERC issued an order approving the internal corporate reorganization consummated on December 31, 2011 under which Columbus Southern Power Company (“CSP”) merged into Ohio Power Company (“Reorganization Transaction”). • March 2012 AEP submitted for filing amendments to Attachment H-20 of the PJM Interconnection L.L.C. (“PJM”) Open Access Transmission Tariff (“PJM Tariff”) to incorporate proposed revisions to incorporate changes necessitated by the internal corporate reorganization.

  4. Status of State Regulatory Process • West Virginia Transco: Issued an order on June 5, 2012--W Va Commission would approve with certain modifications – current evaluation in process. • Appalachian Transco: Va Transco has been approved to enter into limited service agreements with AEPSC and APCo. • Kentucky Transco: Awaiting final order by the KPSC.

  5. Annual Update 2012 • http://www.aep.com/about/codeofconduct/OASIS/TariffFilings/ Docket No. ER10-355-000, AEPTCo FERC Formula Rate Filing • Annual Update 2012 - AEPTCo PJM • Notice of Annual Filing (PDF) • Formula Rate Update AEP Transmission Companies Summary (DOC) • ATRR Summary of AEP Transmission Companies (XLS) • Appalachian Transmission Company (XLS) • Indiana Michigan Transmission Company (XLS) • Kentucky Transmission Company (XLS) • Ohio Transmission Company (XLS) • West Virginia Transmission Company (XLS) • TransCo NITS Attachment C (XLS) • FERC Exclusion of State Formation Costs (XLS) • ADIT TransCo Detail (XLS)

  6. Summary of Rates

  7. Primary Drivers Change in Rate • Increased capital spend in Ohio • 4% increase in the East Zone Network Service Peak Load

  8. Revenue Requirement used to calculate the Existing Zonal ATRR for PJM OATT

  9. Gross Plant Investment – 2011 Projected vs. 2011 Actual Average Balance Gross Plant Investment

  10. 2012 Projected Capital Spend

  11. Revenue Requirement For PJM Socialized ‘Schedule 12’ Investment

  12. Summary Comparison 2011 Projected – 2011 True-up

  13. Summary Comparison 2011 Projected – 2011 True-up (cont.)

  14. Summary Comparison 2011 Projected – 2011 True-up (cont.)

  15. NITS True-Up

  16. Questions ?

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