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, 2000
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, 2000
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January 2000 February 2000 March 2000
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
Tanners Creek. . . . . 29,075 $1.58 $ 46 88,348 $1.58 $ 140 43,896 $1.58 $ 69
Rockport Plant . . . . 591,437 $1.58 934 593,664 $1.58 938 768,941 $1.58 1,215
SERVICE TO NON-AFFILIATES 381,250 $1.42 541 326,114 $1.56 510 403,069 $1.08 436
TOTAL. . . . . . . . . 1,001,762 $1,521 1,008,126 $1,588 1,215,906 $1,720
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OHIO POWER COMPANY
COOK COAL TERMINAL
SUMMARY OF COSTS INCURRED
BY MONTH, FOR THE QUARTER ENDED MARCH 31, 2000
Three
Months
January February March Ended
2000 2000 2000 3/31/00
(in thousands)
Rents. . . . . . . . . . . . . . $ 586 $ 587 $ 588 $1,761
Labor-UMW* . . . . . . . . . . . 214 210 178 602
Benefits-UMW*. . . . . . . . . . 157 144 158 459
Salaries and Benefits-Nonunion . 110 94 140 344
Material & Supplies. . . . . . . 161 93 88 342
Billed Services. . . . . . . . . 85 93 54 232
Taxes**. . . . . . . . . . . . . 53 52 52 157
Administrative and General . . . 149 29 81 259
Inventory Adjustments*** . . . . (182) 44 97 (41)
Electricity. . . . . . . . . . . - 76 67 143
Cost-of-Capital. . . . . . . . . 34 70 68 172
Total. . . . . . . . . $1,367 $1,492 $1,571 $4,430
* 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
@12/31/99 PERCENT EFFECTIVE WEIGHTED
COMPONENT (000) OF TOTAL COST RATE OF RETURN
Long-term Debt $1,077,200(a) 43.67% 7.19%(c) 3.14%
Preferred Stock 25,787 1.05% 4.88%(c) .05%
Common Stock 1,363,572(b) 55.28% 12.81%(d) 7.08%
Total $2,466,559 100.00% 10.27%*
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 12/31/99.
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, 2000.
