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American Electric Power Company

American Electric Power Company. Transmission Formula Rate AEP East Companies Annual Formula Rate Update June 2012. TRUE-UP PROCESS. Annual update for the Rate Year beginning July 1, 2012 through June 30, 2013 True-up

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American Electric Power Company

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  1. American Electric Power Company Transmission Formula Rate AEP East Companies 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) -- $65.88/MW Day • Rates effective July 1, 2011 (billed July – December 2011) -- $74.89/MW Day • Trued-up to Actual 2011 Cost Data with Average ending Ratebase Balances (2010-2011) -- $70.69/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 Attachments H-14A, H-14B of the PJM Interconnection, L.L.C. (“PJM”) Open Access Transmission Tariff (“PJM Tariff”) to incorporate proposed revisions to make changes necessitated by the internal corporate reorganization.

  4. Annual Update 2012 http://www.aep.com/about/codeofconduct/ OASIS/TariffFilings/ • Annual Update - 2012 • Notice of Annual Filing (PDF) • Annual Update Customer Meeting Notice (DOC) • Formula Rate Update AEP Operating Companies Summary (DOC) • PJM ATRR Formula Rate Summary (XLS) • Appalachian Power Company (XLS) • Indiana Michigan Power Company (XLS) • Kentucky Power Company (XLS) • Kingsport Power Company (XLS) • Ohio Power Company (XLS) • Wheeling Power Company (XLS) • NITS Attach C True-Up (XLS) • RTEP Attach C True-Up (XLS) • Schedule 1A Attach C True-Up (XLS) • AEP Actuarial Report Non-UMWA YE 2011 (PDF) • AEP Actuarial Report UMWA YE 2011 (PDF) • ADIT Detail Historical (XLS) Docket No. ER08-1329-000, OATT Formula Rate

  5. Summary of Rates

  6. Primary Drivers Decreasing Rate • Projected 2011 investment within 2% of actual 2011 capital spend • 4% increase in the East Zone Network Service Peak Load • Decrease in O&M Expense for 2011

  7. Revenue Requirement (including revenue credits)used to calculate the Existing Zonal ATRR for PJM OATT

  8. Gross Plant Investment – 2011 Projected vs. 2011 Actual Average Balance Gross Plant Investment Includes allocated general and intangible plant investment.

  9. O&M Expense Comparison 2011 Projected Cost of Service includes 2010 actual expense 2011 True-up Cost of Service includes 2011 actual expense.

  10. 2012 Projected Plant 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. Schedule 1A

  16. NITS True-Up

  17. Actual Revenue compared to True-Up Revenue

  18. Questions ?

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