<PAGE> File No. 70-8573
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
______________________________
AMENDMENT NO. 2
TO
FORM U-1
_______________________________
APPLICATION OR DECLARATION
under the
PUBLIC UTILITY HOLDING COMPANY ACT OF 1935
* * *
COLUMBUS SOUTHERN POWER COMPANY
215 North Front Street, Columbus, Ohio 43215
KENTUCKY POWER COMPANY
1701 Central Avenue, P.O. Box 1428, Ashland, Kentucky 41101
OHIO POWER COMPANY
301 Cleveland Avenue, S.W., Canton, Ohio 44702
(Name of companies filing this statement and
addresses of principal executive offices)
* * *
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
Jeffrey D. Cross, Assistant General Counsel
AMERICAN ELECTRIC POWER SERVICE CORPORATION
1 Riverside Plaza, Columbus, Ohio 43215
(Names and addresses of agents for service)
Columbus Southern Power Company ("CSPCo"), Kentucky Power
Company ("KPCo") and Ohio Power Company ("OPCo") (sometimes
hereinafter referred to individually as an "Operating Affiliate"
and collectively as the "Operating Affiliates") hereby amend their
Application or Declaration on Form U-1 in File No. 70-8573, as
follows:
By amending and restating paragraph D. Use of Proceeds to
read as follows:
"Each Operating Affiliate, individually, expects to apply the
net proceeds of the Debentures to the repayment of outstanding
short-term debt, for construction purposes, and for other general
corporate purposes, including the redemption or other retirement of
outstanding preferred stock and senior securities.
At March 24, 1995, KPCo had short-term debt of approximately
$61,200,000. CSPCo, KPCo and OPCo estimate that their construction
costs during 1995 (inclusive of allowance for funds used during
construction) will be approximately $107,900,000, $43,600,000 and
$126,900,000, respectively. CSPCo's Cumulative Preferred Shares,
9.50% Series, par value $100 per share, may be redeemed at their
regular redemption price of $109.50 per share on or after October
31, 1995. OPCo's Cumulative Preferred Stock ($100 voting) 7.60%
Series (350,000 shares outstanding) may be redeemed at their
regular redemption price of $102.26 per share; OPCo's Cumulative
Preferred Stock ($100 voting) 7-6/10% Series (350,000 shares
outstanding) may be redeemed at their regular redemption price of
$102.11 per share; and OPCo's Cumulative Preferred Stock ($100
voting) 8.04% Series (150,000 shares outstanding) may be redeemed
at their regular redemption price of $102.58 per share.
Each Operating Affiliate, individually, represents that it
will not so redeem its outstanding securities unless the estimated
present value savings derived from the difference between interest
payments on the Debentures and those securities refunded is on an
after-tax basis greater than the estimated present value of all
redemption, tendering and issuing costs, assuming an appropriate
discount rate. Such discount rate will be based on meeting each
Operating Affiliate's long-term capital structure goals, with
appropriate adjustments for income taxes."
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 their behalf by the undersigned
thereunto duly authorized.
COLUMBUS SOUTHERN POWER COMPANY
KENTUCKY POWER COMPANY
OHIO POWER COMPANY
By__/s/ P. J. DeMaria_____
Vice President
Date: April 11, 1995
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