AMERICAN ELECTRIC POWER COMPANY INC
POS AMC, 2000-12-28
ELECTRIC SERVICES
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                                                              File No. 70-8429



                      SECURITIES AND EXCHANGE COMMISSION

                            Washington, D.C. 20549

                       ---------------------------------

                        POST-EFFECTIVE AMENDMENT NO. 7
                                      TO
                                   FORM U-1
                      ----------------------------------

                          APPLICATION OR DECLARATION

                                    under the

                  PUBLIC UTILITY HOLDING COMPANY ACT OF 1935

                                     * * *

                     AMERICAN ELECTRIC POWER COMPANY, INC.
                              AEP RESOURCES, INC.
                    1 Riverside Plaza, Columbus, Ohio 43215
                    ---------------------------------------
              (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
                    ---------------------------------------
                  (Names and addresses of agents for service)



      American  Electric  Power  Company,  Inc.  ("AEP"),  a registered  holding
company under the Public Utility  Holding Company Act of 1935, as amended ("1935
Act"), and its subsidiary, AEP Resources, Inc. ("Resources"), hereby amend their
Application-Declaration  on Form U-1 in File No.  70-8429 by restating the fifth
and sixth paragraphs of Post-Effective  Amendment No. 5 as follows. In all other
respects the Application-Declaration as previously filed and amended will remain
the same.

            "AEP  proposes to extend from December 31, 2000 to June 30, 2003 its
      authority to (i) issue  short-term  indebtedness and issue and sell equity
      securities; (ii) guarantee the indebtedness of Resources,  Project Parents
      and Power Projects;  and (iii) guarantee financial  commitments other than
      indebtedness of Resources,  Project Parents and Power Projects, solely for
      the purpose of investing in and  guaranteeing  the  operations  of, either
      directly or indirectly, Power Projects, provided that the total of the net
      proceeds used for these investments and guarantees  outstanding at any one
      time may not,  when added to AEP's  aggregate  investment  in all EWGs and
      FUCOs, exceed the 2000 Investment Limit.

            Resources  and Power  Projects  propose to extend from  December 31,
      2000 to June 30, 2003 authority to guarantee financial commitments,  other
      than   indebtedness,   of   Exempt   Entities   ("Non-Utility   Subsidiary
      Guarantees")  in an  aggregate  principal  amount not to exceed $3 billion
      outstanding  at any one time,  exclusive of any guarantees and other forms
      of credit  support that are exempt  pursuant to Rule 45(b) and Rule 52(b),
      provided, however, that the amount of Non-Utility Guarantees in respect of
      obligations of any Rule 58 subsidiaries of AEP shall remain subject to the
      limitations of Rule 58(a)(1)."


                                         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.
                              AEP RESOURCES, INC.


                              By:   /s/ G. S. Chatas__________
                                          G. S. Chatas
                                          Assistant Treasurer

Dated:  December 26, 2000





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