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INDIANA MICHIGAN POWER COMPANY
RIVER TRANSPORTATION DIVISION
QUARTERLY REPORT PER REQUIREMENTS
OF HOLDING COMPANY ACT RELEASE NO. 24039
BY MONTH, FOR THE QUARTER ENDED MARCH 31, 1997
CONTENTS
Page
Summary of Billings 1
Derivation of Billing Rates 2
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INDIANA MICHIGAN POWER COMPANY
RIVER TRANSPORTATION DIVISION
SUMMARY OF BILLINGS
BY MONTH, FOR THE QUARTER ENDED MARCH 31, 1997
<CAPTION>
January 1997 February 1997 March 1997
Tons Fee Amount Tons Fee Amount Tons Fee Amount
(per ton) (000) (per ton) (000) (per ton) (000)
BARGING SERVICE BILLINGS TO AFFILIATES
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Appalachian Power Company and
Ohio Power Company:
Sporn Plant. . . . . . . . . . . . 160,109 $3.22 $516 148,111 $3.80 $562 190,364 $3.39 $645
Amos Plant . . . . . . . . . . . . 86,546 $1.13 98 77,511 $1.11 86 66,797 $1.09 73
Total. . . . . . . . . . . . . . 246,655 $614 225,622 $648 257,161 $718
Appalachian Power Company:
Mountaineer Plant. . . . . . . . . 144,408 $1.59 $230 253,227 $1.66 $420 167,356 $1.68 $282
Kanawha River Plant. . . . . . . . 59,678 $ .58 35 42,008 $ .57 24 36,377 $ .56 20
Total. . . . . . . . . . . . . . 204,086 $265 295,235 $444 203,733 $302
Indiana Michigan Power Company:
Tanners Creek. . . . . . . . . . . 162,390 $3.09 $502 149,737 $2.81 $420 190,536 $2.94 $560
Indiana Michigan Power Company
and AEP Generating Company:
Rockport Plant . . . . . . . . . . 874,709 $1.81 $1,583 811,517 $1.81 $1,469 345,123 $1.81 $625
Ohio Power Company:
Cardinal Plant (Unit 1). . . . . . 87,531 $1.37 $120 92,607 $1.31 $121 143,456 $ .87 $125
Mitchell Plant . . . . . . . . . . 26,339 $4.11 108 53,503 $3.55 190 32,896 $3.48 114
Muskingum River Plant. . . . . . . 9,799 $3.15 31 - $ - - 8,480 $3.15 27
Total. . . . . . . . . . . . . . 123,669 $259 146,110 $311 184,832 $266
BARGING SERVICE BILLINGS
TO UNAFFILIATED COMPANIES:
Buckeye Power Company:
Cardinal Plant (Unit 2 & 3). . . . 47,045 $2.11 $99 61,465 $1.85 $114 125,258 $1.67 $209
Other Coal . . . . . . . . . . . . . 182,393 $2.29 $418 162,393 $2.26 $368 215,701 $1.72 $372
Other. . . . . . . . . . . . . . . . 26,696 $131 47,848 $183 74,713 $259
Note: The above amounts include demurrage charges.
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INDIANA MICHIGAN POWER COMPANY
RIVER TRANSPORTATION DIVISION
DERIVATION OF BILLING RATES FOR THE PERIOD JANUARY 1, 1997 THROUGH DECEMBER 31, 1997
BASED ON PROJECTED COSTS FOR THE PERIOD JANUARY 1, 1997 THROUGH DECEMBER 31, 1997
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Projected Non-Assigned Upper Ohio Lower Ohio Upper Ohio
Cost Cost & Kanawha Green & Ohio Tanners Crk (Contract)
DIRECT EXPENSES:
<S> <C> <C> <C> <C> <C> <C>
Rent . . . . . . . . . . . . . . $11,607,548 $2,343,317 $ 4,077,169 $ 2,898,017 $ 1,058,557 $ 1,230,488
Wages. . . . . . . . . . . . . . 10,340,147 147,183 3,976,722 4,507,373 690,617 1,018,252
Fuel . . . . . . . . . . . . . . 6,324,426 13,964 1,625,160 3,865,130 270,839 549,333
Fuel Taxes . . . . . . . . . . . 2,181,431 3,873 565,928 1,331,989 92,930 186,711
Supplies . . . . . . . . . . . . 3,136,413 67,334 801,678 1,624,933 269,188 373,280
Tow Services . . . . . . . . . . 45,600 - - - - 45,600
Other Taxes. . . . . . . . . . . 90,000 - 4,500 67,500 13,500 4,500
Total Equipment Expenses . . . 33,725,565 2,575,671 11,051,157 14,294,942 2,395,631 3,408,164
Ton Mile Ratio . . . . . . . . . . 0.378718 0.413399 0.111719 0.096164
Less: Sublease Income. . . . . . . -
Unaffiliated Barging Income. -
Adjusted Nonassigned Allocations . $2,575,671 975,452 1,064,779 287,753 247,687
Allocated Overhead Expenses. . . . 7,583,723 2,872,091 3,135,100 847,249 729,283
Return on Investment . . . . . . . 838,292 317,476 346,549 93,653 80,614
Contract Revenue . . . . . . . . . (1,365,000) (516,950) (564,289) (152,497) (131,264)
Re-allocation of Cost or (Revenue)
to Affiliated Rates. . . . . . . - 132,393 144,515 39,056 (315,964)
Zone 4 Barge & Towboat Cost. . . . (2,382,131) (2,382,131)
Non-Affiliated Contracts . . . . . (4,018,520) - - - (4,018,520)
Total Projected Cost
(Revenue Requirement). . . . $34,381,929 $14,831,619 $18,421,596 $ 1,128,714 $ -
Adjusted Ton Miles . . . . . . . . 7,126,248,100 2,698,837,000 2,945,980,400 796,140,700 685,290,000
Cost Per Adjusted Ton Mile * . . . $0.0055 $.00625 0.00142
* Incorporated in the January 1997 billings.
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