<PAGE> File No. 70-8611
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
______________________________
AMENDMENT NO. 5
TO
FORM U-1
_______________________________
APPLICATION OR DECLARATION
under the
PUBLIC UTILITY HOLDING COMPANY ACT OF 1935
* * *
SOUTHERN OHIO COAL COMPANY
CENTRAL OHIO COAL COMPANY
WINDSOR COAL COMPANY
OHIO POWER COMPANY
1 Riverside Plaza, Columbus, Ohio 43215
(Name of company or companies filing this statement
and address of principal executive office)
* * *
AMERICAN ELECTRIC POWER COMPANY, INC.
1 Riverside Plaza, Columbus, Ohio 43215
(Name of top registered holding company
parent of each applicant or declarant)
* * *
G. P. Maloney, Executive Vice President
American Electric Power Service Corporation
1 Riverside Plaza, Columbus, Ohio 43215
John F. Di Lorenzo, Jr., Associate General Counsel
American Electric Power Service Corporation
1 Riverside Plaza, Columbus, Ohio 43215
(Names and addresses of agents for service)
Southern Ohio Coal Company ("SOCCo"), Windsor Coal Company
("Windsor") and Central Ohio Coal Company ("COCCo"), subsidiaries
of Ohio Power Company, an electric utility subsidiary of American
Electric Power Company, Inc., a registered holding company under
the Public Utility Holding Company Act of 1935, as amended,
hereby amend their Application or Declaration on Form U-1 in File
No. 70-8611, as heretofore amended, as follows:
1. By adding Ohio Power Company as a party to this
Application-Declaration.
2. By adding the following paragraphs at the end of Item
1:
"The effects of the proposed transactions will
have no current impact on Ohio Power's retail
customers. These customers are being billed a fixed
fuel rate that, under the Settlement Agreement, will
continue through November 1998. The impact to Ohio
Power's wholesale customers, other than Wheeling Power
Company, will be reflected in the fuel rate because the
adjustments flow through the fuel clause. Wheeling
Power Company, an affiliate of Ohio Power, has entered
into a FERC-approved agreement with Ohio Power, under
which Wheeling Power Company will pay a fixed fuel
rate, except, if Ohio Power's actual average fuel costs
fall below a certain level, then Ohio Power and
Wheeling Power Company will share equally in the cost
savings.
Ohio Power recommends adjusting the cost of
capital rate authorized to conform the rates to the
current market (See HCAR Nos. 20515, April 4, 1978;
21008, April 17, 1979; 21537, April 25, 1980; 22129,
July 13, 1981; 22179, August 28, 1981; 22401, February
24, 1982; and 22770, December 10, 1982.) Therefore,
Ohio Power proposes that the provision for cost of
capital applicable to its capital in the coal mines
would be adjusted on an annual basis, determined as set
forth in Appendix A attached hereto. The overall rate
of return on the investment would be subject to
adjustment on the first day of April in each succeeding
year based on changes in the rate of return on common
equity most recently allowed by either (i) the Federal
Energy Regulatory Commission ('FERC') in the last
wholesale rate proceeding involving Ohio Power or (ii)
The Public Utilities Commission of Ohio in Ohio Power's
most recent retail rate proceeding.
Attached hereto as Appendix A is a chart which
reflects how Ohio Power would calculate the current
market rate of return using December 31, 1994 financial
information. Such information would be reported by the
Companies in Rule 24 reports."
SIGNATURE
Pursuant to the requirements of the Public Utility Holding
Company Act of 1935, the undersigned companies have duly caused
this statement to be signed on its behalf by their duly
authorized officer.
SOUTHERN OHIO COAL COMPANY
WINDSOR COAL COMPANY
CENTRAL OHIO COAL COMPANY
OHIO POWER COMPANY
By: /s/ G. P. Maloney
Vice President
December 19, 1995
Appendix A
OHIO POWER COMPANY
Rate of Return on Investments
<TABLE>
<CAPTION>
After-Tax
Capitalization Percent Effective Weighted
Component at 12/31/94 of Total Cost Rate of Return
<C> <C> <C> <C> <C>
(000)
Long-Term Debt $1,063,241(a) 41.91% 7.54%(c) 3.16%
Preferred Stock 241,240 9.51% 6.40%(c) 0.61%
Common Stock 1,232,681(b) 48.59% 13.07%(d) 6.35%
Total $2,537,162 100.00% 10.73%
</TABLE>
(a) Includes Long-Term Debt due in one-year and is net of unamortized
debt premium and discount, unamortized debt expense, and the
unamortized loss on reacquired debt.
(b) Common Equity includes the premium on preferred stock and excludes
undistributed subsidiary earnings.
(c) Embedded Cost at 12/31/94.
(d) The monthly average rate allowed by the PUCO in 1995 (two months at
the 14.34% rate allowed OPCo in a 1986 retail rate proceeding and the
remaining ten months of the year at the 12.81% allowed in a retail
rate settlement approved in March 1995).
