<PAGE> File No. 70-8527
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
AMENDMENT NO. 1
TO
FORM U-1
APPLICATION OR DECLARATION
under the
PUBLIC UTILITY HOLDING COMPANY ACT OF 1935
* * *
OHIO VALLEY ELECTRIC CORPORATION
P.O. Box 468, Piketon, Ohio 45661
(Name of company 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)
* * *
G. P. Maloney, Executive Vice President
AMERICAN ELECTRIC POWER SERVICE CORPORATION
1 Riverside Plaza, Columbus, Ohio 43215
A. Joseph Dowd, General Counsel
AMERICAN ELECTRIC POWER SERVICE CORPORATION
1 Riverside Plaza, Columbus, Ohio 43215
(Names and addresses of agents for service)
Ohio Valley Electric Corporation ("OVEC") hereby amends its
Application or Declaration on Form U-1 in File No. 70-8527 as
follows:
1. By deleting the last paragraph of ITEM 1. DESCRIPTION OF
PROPOSED TRANSACTIONS and inserting the following paragraphs:
"It is proposed that Certificates of Notification
under Rule 24 be filed quarterly and shall include the
principal amount, interest rate and maturity date of each
note issued.
None of the proceeds from the proposed transaction
will be used by American Electric Power Company, Inc.
('AEP') or any subsidiary thereof for the acquisition of
an interest in an EWG or a FUCO. Additionally, neither
AEP nor any subsidiary thereof, now or as a consequence
of the transactions proposed herein is a party to, or has
any rights under, a service, sales or construction
agreement with an EWG or a FUCO."
2. Balance Sheets as of September 30, 1994 and Statements of
Income and Retained Earnings for the 12 months ended September 30,
1994 of OVEC are filed herewith.
SIGNATURE
Pursuant to the requirements of the Public Utility
Holding Company Act of 1935, the undersigned company has duly
caused this statement to be signed on its behalf by the undersigned
thereunto duly authorized.
OHIO VALLEY ELECTRIC CORPORATION
By__/s/ G. P. Maloney___________
Vice President
December 21, 1994
a:\70-8527.#1
OHIO VALLEY ELECTRIC CORPORATION
STATEMENT OF INCOME
12 MONTHS ENDED SEPTEMBER 30, 1994
UNAUDITED
(in thousands)
OPERATING REVENUES. . . . . . . . . . . . . . . . . . . $285,067
OPERATING EXPENSES:
Fuel. . . . . . . . . . . . . . . . . . . . . . . . . 94,091
Purchased Power . . . . . . . . . . . . . . . . . . . 138,245
Other Operation . . . . . . . . . . . . . . . . . . . 18,738
Maintenance . . . . . . . . . . . . . . . . . . . . . 18,191
Taxes Other Than Federal Income Taxes . . . . . . . . 5,977
Federal Income Taxes. . . . . . . . . . . . . . . . . 3,194
TOTAL OPERATING EXPENSES. . . . . . . . . . . 278,436
OPERATING INCOME. . . . . . . . . . . . . . . . . . . . 6,631
NONOPERATING INCOME . . . . . . . . . . . . . . . . . . 1,395
INCOME BEFORE INTEREST CHARGES. . . . . . . . . . . . . 8,026
INTEREST CHARGES. . . . . . . . . . . . . . . . . . . . 5,521
NET INCOME. . . . . . . . . . . . . . . . . . . . . . . $ 2,505
OHIO VALLEY ELECTRIC CORPORATION
STATEMENT OF RETAINED EARNINGS
12 MONTHS ENDED SEPTEMBER 30, 1994
UNAUDITED
(in thousands)
RETAINED EARNINGS AT BEGINNING OF PERIOD. . . . . . . . $ 622
NET INCOME. . . . . . . . . . . . . . . . . . . . . . . 2,505
CASH DIVIDENDS DECLARED . . . . . . . . . . . . . . . . 1,170
RETAINED EARNINGS AT END OF PERIOD. . . . . . . . . . . $1,957
OHIO VALLEY ELECTRIC CORPORATION
BALANCE SHEET
SEPTEMBER 30, 1994
UNAUDITED
(in thousands)
ASSETS
ELECTRIC UTILITY PLANT:
Electric Plant (at original cost) . . . . . . . . . . $266,827
Construction Work in Progress . . . . . . . . . . . . 1,297
Total Electric Utility Plant. . . . . . . . . 268,124
Accumulated Depreciation and Amortization . . . . . . 263,184
NET ELECTRIC UTILITY PLANT. . . . . . . . . . 4,940
INVESTMENTS AND OTHER . . . . . . . . . . . . . . . . . 94,546
CURRENT ASSETS:
Cash and Cash Equivalents . . . . . . . . . . . . . . 9,149
Accounts Receivable . . . . . . . . . . . . . . . . . 12,254
Coal in Storage - at average cost . . . . . . . . . . 16,310
Materials and Supplies - at average cost. . . . . . . 8,975
Prepayments and Other . . . . . . . . . . . . . . . . 1,417
TOTAL CURRENT ASSETS. . . . . . . . . . . . . 48,105
REGULATORY ASSETS AND DEFERRED CHARGES:
Future Federal Income Tax Benefits. . . . . . . . . . 14,244
Unrecognized Pension Expense. . . . . . . . . . . . . 9,925
Postretirement Benefits Expense . . . . . . . . . . . 28,610
Other . . . . . . . . . . . . . . . . . . . . . . . . 2,118
TOTAL REGULATORY ASSETS AND DEFERRED CHARGES. 54,897
TOTAL . . . . . . . . . . . . . . . . . . . $202,488
OHIO VALLEY ELECTRIC CORPORATION
BALANCE SHEET
SEPTEMBER 30, 1994
UNAUDITED
(in thousands)
CAPITALIZATION AND LIABILITIES
CAPITALIZATION:
Common Stock - Par Value $100:
Authorized - 300,000 Shares
Outstanding - 100,000 Shares. . . . . . . . . . . . $ 10,000
Retained Earnings . . . . . . . . . . . . . . . . . . 1,957
Total Shareowners' Equity . . . . . . . . . . 11,957
Long-term Debt - Notes Payable. . . . . . . . . . . . 80,000
TOTAL CAPITALIZATION. . . . . . . . . . . . . 91,957
CURRENT LIABILITIES:
Long-term Debt Due Within One Year - Notes Payable. . 9,500
Short-term Debt . . . . . . . . . . . . . . . . . . . 5,000
Accounts Payable. . . . . . . . . . . . . . . . . . . 23,695
Taxes Accrued . . . . . . . . . . . . . . . . . . . . 6,398
Interest Accrued and Other. . . . . . . . . . . . . . 1,404
TOTAL CURRENT LIABILITIES . . . . . . . . . . 45,997
REGULATORY LIABILITIES AND DEFERRED CREDITS:
Investment Tax Credits. . . . . . . . . . . . . . . . 10,610
Accrued Pension Liability . . . . . . . . . . . . . . 9,925
Postretirement Benefits Obligation. . . . . . . . . . 28,610
Amounts Due to Customers for Federal Income Taxes . . 12,301
Other . . . . . . . . . . . . . . . . . . . . . . . . 3,088
TOTAL REGULATORY LIABILITIES AND
DEFERRED CREDITS. . . . . . . . . . . . . . 64,534
TOTAL . . . . . . . . . . . . . . . . . . . $202,488
<TABLE> <S> <C>
<ARTICLE> OPUR1
<CIK> 0000074008
<NAME> OHIO VALLEY ELECTRIC CORPORATION
<MULTIPLIER> 1,000
<CURRENCY> US DOLLARS
<EXCHANGE-RATE>1.000
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> DEC-31-1993
<PERIOD-END> SEP-30-1994
<BOOK-VALUE> PER-BOOK
<TOTAL-NET-UTILITY-PLANT> 4,940
<OTHER-PROPERTY-AND-INVEST> 94,546
<TOTAL-CURRENT-ASSETS> 48,105
<TOTAL-DEFERRED-CHARGES> 54,897
<OTHER-ASSETS> 0
<TOTAL-ASSETS> 202,488
<COMMON> 10,000
<CAPITAL-SURPLUS-PAID-IN> 0
<RETAINED-EARNINGS> 1,957
<TOTAL-COMMON-STOCKHOLDERS-EQ> 11,957
0
0
<LONG-TERM-DEBT-NET> 80,000
<SHORT-TERM-NOTES> 5,000
<LONG-TERM-NOTES-PAYABLE> 0
<COMMERCIAL-PAPER-OBLIGATIONS> 0
<LONG-TERM-DEBT-CURRENT-PORT> 9,500
0
<CAPITAL-LEASE-OBLIGATIONS> 0
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<OTHER-ITEMS-CAPITAL-AND-LIAB> 96,031
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<GROSS-OPERATING-REVENUE> 285,067
<INCOME-TAX-EXPENSE> 3,194
<OTHER-OPERATING-EXPENSES> 275,242
<TOTAL-OPERATING-EXPENSES> 278,436
<OPERATING-INCOME-LOSS> 6,631
<OTHER-INCOME-NET> 1,395
<INCOME-BEFORE-INTEREST-EXPEN> 8,026
<TOTAL-INTEREST-EXPENSE> 5,521
<NET-INCOME> 2,505
0
<EARNINGS-AVAILABLE-FOR-COMM> 2,505
<COMMON-STOCK-DIVIDENDS> 1,170
<TOTAL-INTEREST-ON-BONDS> 0
<CASH-FLOW-OPERATIONS> 23,480
<EPS-PRIMARY> $25.05
<EPS-DILUTED> $25.05
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