OHIO POWER COMPANY
COOK COAL TERMINAL
QUARTERLY REPORT PER REQUIREMENTS
OF HOLDING COMPANY ACT RELEASE NO. 22977
BY MONTH, FOR THE QUARTER ENDED DECEMBER 31, 1997
CONTENTS
Page
Statements of Transfer Fee Billings 1
Summary of Costs Incurred 2
Rate of Return on Investment 3
Rail Car Maintenance Facility
Report for the Year 1997 (Attachment)
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OHIO POWER COMPANY
COOK COAL TERMINAL
STATEMENTS OF TRANSFER FEE BILLINGS
BY MONTH, FOR THE QUARTER ENDED DECEMBER 31, 1997
<CAPTION>
October 1997 November 1997 December 1997
Tons Unit Price Amount Tons Unit Price Amount Tons Unit Price Amount
(per ton) (000) (per ton) (000) (per ton) (000)
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
SERVICE TO AFFILIATES
Indiana Michigan Power
Company and AEP
Generating Company:
Rockport Plant . . . . . 702,709 $1.43 $1,005 967,071 $1.43 $1,383 1,074,173 $1.31 $1,407
Indiana Michigan Power
Company:
Tanners Creek. . . . . . 23,377 $1.43 34 - - - - - -
Indiana Kentucky Electric
Corp:
Clifty Creek . . . . . . 107,252 $1.43 153 109,022 $1.43 156 141,964 $1.31 186
SERVICE TO NON-AFFILIATES
Coal Service . . . . . . . 318,777 $1.06 338 264,916 $1.23 327 256,162 $1.16 296
Sand Service . . . . . . . 19,202 $0.41 8 38,332 $0.45 17 36,645 $0.57 21
TOTAL. . . . . . . . . . 1,171,317 $1,538 1,379,341 $1,883 1,508,944 $1,910
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OHIO POWER COMPANY
COOK COAL TERMINAL
SUMMARY OF COSTS INCURRED
BY MONTH, FOR THE QUARTER ENDED DECEMBER 31, 1997
Three
Months
October November December Ended
1997 1997 1997 12/31/97
(in thousands)
Rents. . . . . . . . . $ 589 $ 589 $ 591 $1,769
Labor-UMW* . . . . . . 197 191 196 584
Benefits-UMW*. . . . . 188 134 179 501
Salaries and
Benefits-Nonunion. . 49 46 52 147
Materials & Supplies . 351 17 123 491
Billed Services. . . . (151) 103 161 113
Taxes**. . . . . . . . 26 60 59 145
Administrative and
General. . . . . . . 202 159 242 603
Inventory
Adjustments***. . . . (25) 64 87 126
Electricity. . . . . . 80 77 74 231
Cost-of-Capital. . . . 58 61 47 166
Total. . . . $1,564 $1,501 $1,811 $4,876
* United Mine Workers of America.
** Excludes FICA, Federal Unemployment and State Unemployment.
These costs are reflected in employee benefits.
*** Represents the net change in transfer costs assigned to coal
inventory at the terminal.
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OHIO POWER COMPANY
COOK COAL TERMINAL AND RAIL CAR MAINTENANCE FACILITY
Rate of Return on Investments
After-Tax
Capitalization Percent Effective Weighted
Component at 12/31/97 of Total Cost Rate of Return
(000)
Long-Term Debt $ 960,665(a) 41.05% 7.45%(c) 3.06%
Preferred Stock 29,392 1.26% 5.00%(c) .06%
Common Stock 1,350,147(b) 57.69% 12.81%(d) 7.39%
Total $2,340,204 100.00% 10.51%*
(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 12/31/97.
(d) The rate allowed by the PUCO in 1995 in a retail rate
settlement approved in March 1995.
* Rate will be applied for billing purposes to the twelve
months period commencing April 1, 1998.
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OHIO POWER COMPANY
COOK COAL TERMINAL
RAIL CAR MAINTENANCE FACILITY
ANNUAL REPORT PER REQUIREMENTS
OF HOLDING COMPANY ACT RELEASE NO. 22977 and 25427
FOR THE YEAR ENDED DECEMBER 31, 1997
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OHIO POWER COMPANY
COOK COAL TERMINAL
RAIL CAR MAINTENANCE FACILITY
STATEMENT OF BILLINGS AND COSTS INCURRED
FOR THE YEAR 1997
Affiliated Unaffiliated Total
(in thousands)
Revenues:
Indiana Michigan Power Company. $2,651 - $2,651
Ohio Power Company. . . . . . . 29 - 29
Ohio Valley Electric Company. . 222 - 222
Unaffiliated Companies. . . . . - 13 13
Total Revenues. . . . . . . . 2,902 13 2,915
Cost of Sales:
Labor . . . . . . . . . . . . . 169 2 171
Material. . . . . . . . . . . . 1,469 6 1,475
Overheads . . . . . . . . . . . 1,264 5 1,269
Total Cost of Sales . . . . . 2,902 13 2,915
Gross Margin. . . . . . . . . . . $ - $ - $ -
Affiliated work is recognized as revenue and billed one month after
the costs are incurred. Work for unaffiliated companies is
recognized as revenue one month after the costs are incurred, but
billed when the work is completed.
The above cost of sales does not include $165,000 of deferred
expenses as of December 31, 1997 related to December work performed
but not yet billed.
