File No. 70-8779
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
_________________________________
POST-EFFECTIVE AMENDMENT NO. 12
TO
FORM U-1
__________________________________
APPLICATION OR DECLARATION
under the
PUBLIC UTILITY HOLDING COMPANY ACT OF 1935
* * *
AMERICAN ELECTRIC POWER COMPANY, INC.
1 Riverside Plaza, Columbus, Ohio 43215
AMERICAN ELECTRIC POWER SERVICE CORPORATION
1 Riverside Plaza, Columbus, Ohio 43215
APPALACHIAN POWER COMPANY
40 Franklin Road, Roanoke, Virginia 24022
COLUMBUS SOUTHERN POWER COMPANY
215 North Front Street, Columbus, Ohio 43215
INDIANA MICHIGAN POWER COMPANY
One Summit Square, Fort Wayne, Indiana 46801
KENTUCKY POWER COMPANY
1701 Central Avenue, Ashland, Kentucky 41101
KINGSPORT POWER COMPANY
422 Broad Street, Kingsport, Tennessee 37660
OHIO POWER COMPANY
339 Cleveland Avenue, S.W., Canton, Ohio 44702
WHEELING POWER COMPANY
51 - 16th Street, Wheeling, West Virginia 26003
(Name of company or 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)
* * *
Susan Tomasky, General Counsel
AMERICAN ELECTRIC POWER SERVICE CORPORATION
1 Riverside Plaza, Columbus, Ohio 43215
(Name and address of agent for service)
American Electric Power Company, Inc. ("American"), a holding company
registered under the Public Utility Holding Company Act of 1935 ("1935 Act"),
and American Electric Power Service Corporation, Appalachian Power Company,
Columbus Southern Power Company, Kentucky Power Company, Kingsport Power
Company, Indiana Michigan Power Company, Ohio Power Company and Wheeling
Power Company (sometimes collectively referred to herein as "Applicants")
hereby amend their Application or Declaration on Form U-1 in File No. 70-8779
as follows:
1. By amending and restating Item 1D:
"Rule 54 provides that in determining whether to approve certain
transactions other than those involving an exempt wholesale generator ('EWG')
or a foreign utility company ('FUCO'), as defined in the 1935 Act, the
Commission will not consider the effect of the capitalization or earnings of
any subsidiary which is an EWG or FUCO if Rule 53(a), (b) and (c) are
satisfied. As set forth below, all applicable conditions of Rule 53(a) are
currently satisfied and none of the conditions set forth in Rule 53(b) exist
or will exist as a result of the transactions proposed herein, thereby
satisfying such provision and making Rule 53(c) inapplicable.
Rule 53(a)(1). As of September 30, 1999, American, through its
subsidiary, Resources, had aggregate investment in FUCOs of $826,228,000.
This investment represents approximately 48.3% of $1,711,072,000, the average
of the consolidated retained earnings of American reported on Forms 10-Q and
10-K for the four consecutive quarters ended September 30, 1999.
Rule 53(a)(2). Each FUCO in which American invests will maintain books
and records and make available the books and records required by Rule
53(a)(2).
Rule 53(a)(3). No more than 2% of the employees of the utility
subsidiaries of American will, at any one time, directly or indirectly,
render services to any FUCO.
Rule 53(a)(4). American has submitted and will submit a copy of Item 9
and Exhibits G and H of American's Form U5S to each of the public service
commissions having jurisdiction over the retail rates of American's utility
subsidiaries.
Rule 53(b). (i) Neither American nor any subsidiary of American is the
subject of any pending bankruptcy or similar proceeding; (ii) American's
average consolidated retained earnings for the four most recent quarterly
periods ($1,711,072,000) represented an increase of approximately $56,487,000
(or 3.4%) in the average consolidated retained earnings from the previous
four quarterly periods ($1,654,585,000); and (iii) for the fiscal year ended
December 31, 1998, American did not report operating losses attributable to
American's direct or indirect investments in EWGs and FUCOs.
American was authorized to invest up to 100% of its consolidated
retained earnings in EWGs and FUCOs (HCAR No. 26864, April 27, 1998) (the
'100% Order') in File No. 70-9021. In connection with its consideration of
American's application for the 100% Order, the Commission reviewed American's
procedures for evaluating EWG or FUCO investments. Based on projected
financial ratios and on procedures and conditions established to limit the
risks to American involved with investments in EWGs and FUCOs, the Commission
determined that permitting American to invest up to 100% of its consolidated
retained earnings in EWGs and FUCOs would not have a substantial adverse
impact upon the financial integrity of the American, nor would it have an
adverse impact on any of the utility subsidiaries or their customers, or on
the ability of state commissions to protect the utility subsidiaries or their
customers."
2. By adding the following statement to the end of ITEM 2.
FEES, COMMISSIONS AND EXPENSES:
"No additional expenses are expected to be incurred in connection with
this Post-Effective Amendment No. 12."
3. By filing Exhibit G-3, Form of Notice herewith.
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.
AMERICAN ELECTRIC POWER COMPANY, INC.
AMERICAN ELECTRIC POWER SERVICE CORPORATION
APPALACHIAN POWER COMPANY
COLUMBUS SOUTHERN POWER COMPANY
INDIANA MICHIGAN POWER COMPANY
KENTUCKY POWER COMPANY
KINGSPORT POWER COMPANY
OHIO POWER COMPANY
WHEELING POWER COMPANY
By /s/ A. A. Pena
Treasurer
Dated: January 19, 2000
Exhibit G-3
UNITED STATES OF AMERICA
before the
SECURITIES AND EXCHANGE COMMISSION
PUBLIC UTILITY HOLDING COMPANY ACT OF 1935
Release No. /January , 2000
________________________________________
:
In the Matter of :
:
AMERICAN ELECTRIC POWER COMPANY, INC. :
1 Riverside Plaza :
Columbus, Ohio 43215 :
:
(70-8779) :
________________________________________:
American Electric Power Company, Inc. ("American"), a holding company
registered under the Public Utility Holding Company Act of 1935 ("1935 Act"),
and American Electric Power Service Corporation, Appalachian Power Company,
Columbus Southern Power Company, Kentucky Power Company, Kingsport Power
Company, Indiana Michigan Power Company, Ohio Power Company and Wheeling
Power Company, have filed a post-effective amendment to their Application or
Declaration with this Commission pursuant to Sections 6(a), 7, 9(a), 10 and
12(b) of the 1935 Act and Rules 45 and 54 thereunder.
By orders dated September 13, 1996 (HCAR No. 26572), September 27, 1996
(HCAR No. 26583), May 2, 1997 (HCAR No. 26713), November 30, 1998 (HCAR No.
26947) and August 19, 1999 (HCAR No. 27062) (collectively, "Prior Orders"),
American was authorized, among other things, to guarantee through December
31, 2002 up to $200 million of debt and up to $200 million of other
obligations of certain nonutility subsidiaries ("New Subsidiaries")
("Guarantee Authority"). Obligations of the New Subsidiaries (other than
debt) might take the form of bid bonds or other direct or indirect guarantees
of contractual or other obligations.
American now requests authority to extend the Guarantee Authority
through June 30, 2004 and to increase the Guarantee Authority up to $400
million of debt and up to $400 million of other obligations under the terms
and conditions stated in the Prior Orders. All other terms, conditions and
limitations contained in HCAR No. 26713 shall continue as currently in effect.
The Application or Declaration and any amendments thereto are available
for public inspection through the Commission's Office of Public Reference.
Interested persons wishing to comment or request a hearing should submit
their views in writing by February , 2000 to the Secretary, Securities and
Exchange Commission, Washington, D.C. 20549, and serve a copy on the
applicants at the addresses specified above. Proof of service (by affidavit
or, in case of any attorney at law, by certificate) should be filed with the
request. Any request for a hearing shall identify specifically the issues of
fact or law that are disputed. A person who so requests will be notified of
any hearing, if ordered, and will receive a copy of any notice or order
issued in this matter. After said date, the Application or Declaration, as
filed or as it may be amended, may be permitted to become effective.
For the Commission, by the Office of Public Utility Regulation,
pursuant to delegated authority.
Jonathan G. Katz
Secretary
