OHIO POWER COMPANY
COOK COAL TERMINAL
QUARTERLY REPORT PER REQUIREMENTS
OF HOLDING COMPANY ACT RELEASE NO. 22977
BY MONTH, FOR THE QUARTER ENDED MARCH 31, 1999
CONTENTS
Page
Statements of Transfer Fee Billings 1
Summary of Costs Incurred 2
Rate of Return on Investment 3
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OHIO POWER COMPANY
COOK COAL TERMINAL
STATEMENTS OF TRANSFER FEE BILLINGS
BY MONTH, FOR THE QUARTER ENDED MARCH 31, 1999
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January 1999 February 1999 March 1999
Billings Billings Billings
Tons Fee Amount Tons Fee Amount Tons Fee Amount
(per ton) (000) (per ton) (000) (per ton) (000)
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
SERVICE TO AFFILIATES
Indiana-Kentucky Electric
Corp:
Clifty Creek . . . . . 118,150 $1.41 $ 167 32,693 $1.41 $ 46 54,082 $1.54 $ 83
Indiana Michigan Power
Company and AEP Generating
Company:
Rockport Plant . . . . 775,182 $1.41 1,093 744,990 $1.41 1,050 858,068 $1.54 1,322
SERVICE TO NON-AFFILIATES 338,261 $1.25 424 472,530 $1.96 924 611,808 $1.15 701
TOTAL. . . . . . . . . 1,231,593 $1,684 1,250,213 $2,020 1,523,958 $2,106
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OHIO POWER COMPANY
COOK COAL TERMINAL
SUMMARY OF COSTS INCURRED
BY MONTH, FOR THE QUARTER ENDED MARCH 31, 1999
Three
Months
January February March Ended
1999 1999 1999 3/31/99
(in thousands)
Rents. . . . . . . . . . . . . . $ 589 $ 606 $ 591 $1,786
Labor-UMW* . . . . . . . . . . . 361 149 207 717
Benefits-UMW*. . . . . . . . . . 138 132 104 374
Salaries and Benefits-Nonunion . 51 47 42 140
Material & Supplies. . . . . . . (126) 265 170 309
Billed Services. . . . . . . . . 3 (190) 83 (104)
Taxes**. . . . . . . . . . . . . 52 52 52 156
Administrative and General . . . 237 186 324 747
Inventory Adjustments*** . . . . (25) (44) (4) (73)
Electricity. . . . . . . . . . . 69 86 82 237
Cost-of-Capital. . . . . . . . . 36 66 59 161
Total. . . . . . . . . $1,385 $1,355 $1,710 $4,450
* United Mine Workers of America.
** Excludes FICA, Federal Unemployment and State Unemployment. These
costs are reflected in 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 INVESTMENT
CAPITALIZATION AFTER-TAX
@12/31/98 PERCENT EFFECTIVE WEIGHTED
COMPONENT (000) OF TOTAL COST RATE OF RETURN
Long-term Debt $ 993,647(a) 41.92% 7.38%(c) 3.09%
Preferred Stock 29,220 1.23% 5.00%(c) .06%
Common Stock 1,347,681(b) 56.85% 12.81%(d) 7.28%
Total $2,370,548 100.00% 10.43%*
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 12/31/98.
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, 1999.
