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Previous: VANGUARD VARIABLE INSURANCE FUND, NSAR-B, 1996-11-27 |
Next: SELIGMAN SELECT MUNICIPAL FUND INC, N-30B-2, 1996-11-27 |
<PAGE>
INDIANA MICHIGAN POWER COMPANY
RIVER TRANSPORTATION DIVISION
QUARTERLY REPORT PER REQUIREMENTS
OF HOLDING COMPANY ACT RELEASE NO. 24039
BY MONTH, FOR THE QUARTER ENDED SEPTEMBER 30, 1996
CONTENTS
Page
Summary of Billings 1
Derivation of Billing Rates 2
<PAGE>
<TABLE>
INDIANA MICHIGAN POWER COMPANY
RIVER TRANSPORTATION DIVISION
SUMMARY OF BILLINGS
BY MONTH, FOR THE QUARTER ENDED SEPTEMBER 30, 1996
<CAPTION>
July 1996 August 1996 September 1996
----------------------------------------------------------------------------------
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>
BARGING SERVICE BILLINGS TO AFFILIATES:
Appalachian Power Company and
Ohio Power Company:
Sporn Plant 242,595 $3.28 $795 243,080 $3.29 $799 102,807 $3.62 $372
Amos Plant 58,030 $0.92 53 119,351 $0.97 116 77,628 $0.45 35
------- ---- ------- ------ ------- -----
Total 300,625 $848 362,431 $915 180,435 $407
======= ==== ======= ====== ======= ====
Appalachian Power Company:
Mountaineer Plant 233,289 $1.63 $381 174,222 $1.71 $297 276,767 $1.25 $345
Kanawha River Plant 0 $0.00 0 2,845 $0.77 2 28,721 $0.40 11
------- ---- ------- ---- ------- ----
Total 233,289 $381 177,067 $299 305,488 $356
======= ==== ======= ==== ======= ====
Indiana Michigan Power Company:
Tanners Creek 161,184 $2.79 $449 90,365 $2.82 $254 137,169 $2.33 ($491)*
======= ==== ====== ==== ======= =====
Indiana Michigan Power Company
and AEP Generating Company:
Rockport Plant 844,695 $1.58 $1,335 939,579 $1.58 $1,485 872,104 $1.00 $872
======= ====== ======= ====== ======= ====
Ohio Power Company:
Cardinal Plant (Unit 1) 63,334 $0.72 $46 87,891 $0.65 $57 117,158 $0.86 $101
Gavin Plant 3,443 $0.58 2 6,559 $0.58 4 9,767 $0.41 4
Mitchell Plant 6,395 $3.44 22 0 $0.00 0 0 $0.00 ($55)**
Muskingum River Plant 28,603 $1.37 39 19,980 $1.37 27 19,489 $0.24 5
------- ---- ------- ---- ------- ----
Total 101,775 $109 114,430 $88 146,414 $55
======= ==== ======= ==== ======= ====
BARGING SERVICE BILLINGS TO
UNAFFILIATED COMPANIES:
Buckeye Power Company:
Cardinal Plant (Units 2 & 3) 43,780 $2.53 $111 16,545 $2.53 $42 57,489 $2.48 $143
======= ==== ====== ==== ======= ====
Other Coal 107,005 $2.11 $226 89,761 $2.21 $199 102,427 $2.19 $224
======= ==== ====== ==== ======= ====
Other 38,754 $163 46,011 $169 49,670 $174
======= ==== ====== ==== ======= ====
* Includes $810,600 retroactive billing adjustment to actual towing rates for the prior periods (1995 and 8 months 1996).
** Represents retroactive billing adjustment to actual towing rates for the prior periods (1995 and 8 months 1996).
</TABLE>
<PAGE>
<TABLE>
INDIANA MICHIGAN POWER COMPANY
RIVER TRANSPORTATION DIVISION
DERIVATION OF BILLING RATES FOR THE PERIOD SEPTEMBER 1, 1996 THROUGH DECEMBER 31, 1996
BASED ON PROJECTED COSTS FOR THE PERIOD SEPTEMBER 1, 1996 THROUGH DECEMBER 31, 1996
<CAPTION>
Projected Non-Assigned Upper Ohio Green & Ohio Lower Ohio Upper Ohio
Cost Cost & Kanawha Rockport Tanners Creek (Contract)
------------- ----------- ------------ ------------ ------------ -----------
<S> <C> <C> <C> <C> <C> <C>
DIRECT EXPENSES:
Rent $3,695,320 $719,990 $1,152,564 $869,264 $313,793 $639,709
Wages 3,389,000 48,775 1,218,040 1,334,869 228,013 559,303
Fuel 1,894,058 4,484 436,656 1,035,853 97,795 319,270
Fuel Taxes 673,315 43,582 153,116 335,600 33,804 107,213
Supplies 730,000 12,268 206,285 312,419 60,099 138,929
Tow Services 24,000 - - - - 24,000
Other Taxes 34,000 - 1,000 22,000 10,000 1,000
---------- ----------- ---------- --------- -------- ---------
Total Equipment Expenses 10,439,693 829,099 3,167,661 3,910,005 743,504 1,789,424
Ton Mile Ratio 0.357771 0.346277 0.166758 0.129194
---------- ---------- -------- ---------
Less: Sublease Income -
Unaffiliated Barging Income -
-----------
Adjusted Nonassigned Allocations $829,099 296,628 287,098 138,259 107,114
===========
Allocated Overhead Expenses 2,180,000 779,941 754,883 363,534 281,642
Return on Investment 264,944 94,789 91,744 44,182 34,229
Contract Revenue (576,250) (148,922) (179,138) (194,413) (53,777)
Re-Allocation of Cost or (Revenue)
to Affiliated Rates - 143,520 138,909 66,893 (349,322)
Non-Affiliated Contracts (1,809,310) - - - (1,809,310)
----------- ----------- ----------- --------- -----------
Total Projected Cost
(Revenue Requirement) $10,499,077 $4,333,617 $5,003,501 $1,161,959 -
=========== ========== ========== ========== ==========
Adjusted Ton Miles ************* 827,299,300 800,720,600 385,607,600 ***********
------------ ---------- ---------- --------- ----------
Cost Per Adjusted Ton Mile* $0.00524 $0.00625 $0.00301
======== ======== ========
*Incorporated in the September 1996 billings.
</TABLE>
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