UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
PUBLIC UTILITY HOLDING COMPANY ACT OF 1935
File No. 70-5741
REPORT FOR PERIOD April 1, 1999 to June 30,1999 PURSUANT TO RULE 24
In the Matter of
SOUTHWESTERN ELECTRIC POWER COMPANY
Shreveport, Louisiana 71156
PUBLIC SERVICE COMPANY OF OKLAHOMA
Tulsa, Oklahoma 74102
CENTRAL POWER AND LIGHT COMPANY
Corpus Christi, Texas 78401
This report is filed by Southwestern Electric Power Company (SWEPCO) on behalf
of itself, Public Service Company of Oklahoma (PSO) and Central Power and Light
Company (CPL) pursuant to Rule 24 promulgated under the Public Utility Holding
Company Act of 1935 by the Securities and Exchange Commission pursuant to
Sections 6(a), 7, 9(a) and 10 of said Act. SWEPCO's, PSO's and CPL's
Application-Declaration, as further amended by post-effective amendments, in
this matter proposed the filing by SWEPCO of quarterly reports to the
Commission, pursuant to Rule 24 of the Act, providing as to the activities
during each quarter: (a) total number of rail cars serviced by month for each of
SWEPCO, PSO and CPL; (b) the amount of expenditures by month for direct labor
cost, direct material cost, and indirect expenses for each of SWEPCO, PSO and
CPL; (c) computation by month of allocated cost to be shared by SWEPCO, PSO and
CPL on the basis of the "Cost Ratio", and (d) copies of the monthly reports
furnished by SWEPCO to PSO and CPL detailing the work and charges associated
with PSO and CPL rail cars assigned to the facility which were repaired during
the previous month, within the context of the Rail Car Maintenance Facility
Agreement between SWEPCO, PSO and CPL. This report covers the period April 1,
1999 through June 30, 1999.
<PAGE>
2nd QUARTER 1999
SWEPCO RAIL CAR MAINTENANCE FACILITY
RULE 24 REPORT
A. NUMBER OF RAIL CARS SERVICED
SWEPCO CPL PSO TOTAL
APRIL 318 115 1 434
MAY 409 0 0 409
JUNE 539 0 107 646
-------------------------------------------------------
TOTAL 1,266 115 108 1,489
=======================================================
B. AMOUNT OF EXPENDITURES
DETAIL SWEPCO CPL PSO TOTAL
DIRECT LABOR -
APRIL $41,571.69 $493.05 $2,817.38 $44,882.12
MAY 71,021.42 2,166.48 299.06 73,486.96
JUNE 41,173.83 - 5,329.11 46,502.94
-------------------------------------------------------
TOTAL $153,766.94 $2,659.53 $8,445.55 $164,872.02
=======================================================
DIRECT MATERIAL -
APRIL $253,768.28 $871.87 $2,362.00 $257,002.15
MAY 78,944.49 7,594.80 7.35 86,546.64
JUNE 272,190.46 - 39,082.77 311,273.23
-------------------------------------------------------
TOTAL $604,903.23 $8,466.67 $41,452.12 $654,822.02
=======================================================
OTHER DIRECT EXPENSES -
APRIL ($63,339.99) $1,688.86 ($52,756.25) ($114,407.38)
MAY 61,052.16 (27,640.85) 42,841.40 76,252.71
JUNE (97,072.80) (865.02) (5,737.95) (103,675.77)
-------------------------------------------------------
TOTAL ($99,360.63)($26,817.01) ($15,652.80) ($141,830.44)
=======================================================
INDIRECT EXPENSES SHARED ON
COST RATIO
APRIL $76,092.18 $903.71 $5,159.35 $82,155.24
MAY 106,577.97 3,253.56 452.16 110,283.69
JUNE 52,537.03 - 6,800.03 59,337.06
-------------------------------------------------------
TOTAL $235,207.18 $4,157.27 $12,411.54 $251,775.99
=======================================================
TOTAL EXPENDITURES
APRIL $308,092.16 $3,957.49 ($42,417.52) $269,632.13
MAY 317,596.04 (14,626.01) 43,599.97 346,570.00
JUNE 268,828.52 (865.02) 45,473.96 313,437.46
-------------------------------------------------------
TOTAL $894,516.72 ($11,533.54) $46,656.41 $929,639.59
=======================================================
C. COMPUTATION OF
COST RATIO SWEPCO CPL PSO TOTAL
APRIL 1999
DIRECT LABOR $41,571.69 $493.05 $2,817.38 $44,882.12
COST RATIO 92.62% 01.10% 06.28% 100.00%
MAY 1999
DIRECT LABOR 71,021.42 2,166.48 299.06 $73,486.96
COST RATIO 96.64% 02.95% 00.41% 100.00%
JUNE 1999
DIRECT LABOR 41,173.83 - 5,329.11 $46,502.94
COST RATIO 88.54% 00.00% 11.46% 100.00%
<PAGE>
D. COPIES OF MONTHLY REPORTS
Copies of the monthly statements furnished by SWEPCO to PSO and CPL detailing
charges associated with PSO and CPL rail cars are attached as Exhibits 1, 2 and
3.
<PAGE>
S I G N A T U R E
As required by Order of this Commission pursuant to the Public Utility Holding
Company Act of 1935, Southwestern Electric Power Company has duly caused this
report to be signed on its behalf on this the 14th day of July, 1999.
SOUTHWESTERN ELECTRIC POWER COMPANY
By /s/ R. Russell Davis
-----------------------------
R. Russell Davis
Controller and
Chief Accounting Officer
<PAGE>
INDEX TO EXHIBITS
Exhibit Transmission
Number Exhibit Method
1 April 1999 statement furnished by SWEPCO to Electronic
PSO and CPL detailing PSO and CPL's rail
car charges
2 May 1999 statement furnished by SWEPCO to Electronic
PSO and CPL detailing PSO and CPL's rail
car charges
3 June 1999 statement furnished by SWEPCO to Electronic
PSO and CPL detailing PSO and CPL's rail
car charges
CENTRAL AND SOUTH WEST SERVICES, INC Exhibit 1
P.O. BOX 21928 TULSA, OKLAHOMA Page 1 of 4
TELEPHONE NUMBER (918) 594 - 2000
STATEMENT OF PARTICIPATION IN RAIL CAR MAINTENANCE FACILITY
AT ALLIANCE, NEBRASKA PER SWEPCO - PSO AGREEMENT
APRIL 1999
A. NUMBER OF RAIL CARS SERVICED
SWEPCO 318 PSO 1 CPL 115
B. AMOUNT OF EXPENDITURES: SWEPCO
COSTS ASSIGNED 100% TO SWEPCO:
PR4001 Direct Material to SWEPCO Coal Cars $253,768.28
PR4018 Stores Salvage - SWEPCO (111,492.02)
PR4101 Direct Labor to SWEPCO Coal Cars 31,560.94
PR4101 Charges Other than Direct Labor 9.74
PR4104 Direct Labor to Rework SWEPCO Material 10,010.75
PR4104 Charges other than Direct Labor 4.99
PR4202 Ad Valorem Taxes - SWEPCO Coal Cars 0.00
PR4204 Ad Valorem Taxes - Facility - Direct - SWEPCO 0.00
PR4213 Employee Fringe Benefits - Direct Labor - SWEPCO 6,315.29
PR4230 Payroll Taxes - Direct Labor - SWEPCO 3,152.21
PR4238 Depreciation Expense - SWEPCO 10,604.00
PR4263 Lease - Supplemental Expenses - SWEPCO 0.00
PR4270 Outside Maintenance of SWEPCO Coal Cars 26,402.30
PR4272 Switching Fees - SWEPCO 1,663.50
PR4277 Repainting Coal Cars - SWEPCO 0.00
--------------
Total 100% SWEPCO Costs $231,999.98
==============
COSTS ASSIGNED 100% TO CPL: CPL
PR4003 Direct Material to CPL Coal Cars 871.87
PR4014 Inventory Carrying Charges - CPL 1,212.24
PR4021 Stores Salvage - CPL (668.56)
PR4105 Direct Labor to CPL Coal Cars 493.05
PR4105 Charges Other thanDirect Labor 2.51
PR4106 Direct Labor to Rework CPL Material. 0.00
PR4106 Charges Other than Direct Labor 0.05
PR4216 Ad Valorem Taxes - Facility - Direct - CPL 0.00
PR4217 Employee Fringe Benefits - Direct Labor - CPL 74.90
PR4218 Payroll taxes - Direct Labor - CPL 37.39
PR4240 Depreciation Expense - CPL 0.00
PR4269 Outside Maintenance of CPL Coal Cars 1,030.33
PR4274 Switching Fees - CPL 0.00
PR4279 Repainting Coal Cars - CPL 0.00
--------------
Total 100% CPL Costs $3,053.78
==============
<PAGE>
Exhibit 1
Page 2 of 4
COSTS ASSIGNED 100% TO PSO: PSO
PR4002 Direct Material to PSO Coal Cars $2,362.00
PR4015 Inventory Carrying Charges - PSO 1,887.41
PR4019 Stores Salvage - PSO (56,298.33)
PR4102 Direct Labor to PSO Coal Cars 0.00
PR4102 Charges Other than Direct Labor 38.65
PR4103 Direct Labor to Rework PSO Material 2,817.38
PR4103 Charges Other than Direct Labor 9.91
PR4205 Ad Valorem Taxes - Facility - Direct - PSO 0.00
PR4214 Employee Fringe Benefits - Direct Labor - PSO 427.99
PR4231 Payroll Taxes - Direct Labor - PSO 213.63
PR4239 Depreciation Expense - PSO 0.00
PR4271 Outside Maintenance of PSO Coal Cars 660.48
PR4273 Switching Fees - PSO 304.01
PR4278 Repainting Coal Cars - PSO 0.00
--------------
Total 100% PSO Costs ($47,576.87)
==============
<PAGE>
Exhibit 1
Page 3 of 4
COSTS TO BE SHARED {Ratio of Direct Labor}: SHARED
PR4010 Shop Material $9,400.33
PR4011 Small Tools 265.40
PR4012 Facility Maintenance - Material 853.18
PR4013 Sale of Scrap (Cr.) 0.00
PR4016 Switch Engine Operation and Maintenance 0.00
PR4017 Equipment Operation and Maintenance 6,645.18
PR4020 Stores Salvage - Joint 0.00
PR4110 Supervision 12,799.51
PR4111 Clerical 3,939.58
PR4112 Training and Safety 2,360.32
PR4113 General Shop Labor 3,139.54
PR4114 Facility Maintenance - Labor 9,107.77
PR4116 Switch Engine Operation and Maintenance 7,441.20
PR4201 Ad Valorem Taxes - Facility 0.00
PR4520 Land Cr. 0.00
PR4206 Data Processing Charges 574.40
PR4207 General Office Overhead 583.05
PR4210 Employee Activities 650.59
PR4211 Employee Expenses 3,138.40
PR4212 Employee Fringe Benefits 6,069.11
PR4215 Employee Sick Benefits 0.00
PR4220 Injuries and Damages 0.00
PR4221 Insurance - Liability and Property 539.52
PR4225 Maintenance of Facilities (Contracted) 2,055.00
PR4226 Office Supplies and Expenses 1,800.37
PR4232 Payroll Taxes - Other 2,937.47
PR4233 Special Services 0.00
PR4234 Utilities - Heat, Light, Power and Water 7,291.70
PR4235 Utilities - Telephone 472.62
PR4236 Vehicle Expense 46.00
PR4237 Depreciation Expense 0.00
PR4250 Miscellaneous 45.00
PR4262 Lease - Basic - All Except Coal Cars 0.00
PR4264 Lease - Supplemental Expenses - Facility 0.00
Total Costs Shared on Cost Ratio
{see computation below} - $82,155.24
--------------
SWEPCO 92.62% $76,092.18
--------------
CPL 1.10% $903.71
--------------
PSO 6.28% $5,159.35
--------------
<PAGE>
Exhibit 1
Page 4 of 4
Capital Recovery on Capital Expenditures not
Covered Under Lease Agreement {Cost Ratio} 0.00
--------------
TOTAL COSTS FOR THE MONTH
SWEPCO $308,092.16
==============
CPL $3,957.49
==============
PSO ($42,417.52)
==============
C. COMPUTATION OF COST RATIO:
101, 104 Direct Labor SWEPCO $41,571.69 92.62 % SWEPCO
105, 106 Direct Labor CPL 493.05 1.10 % CPL
102, 103 Direct Labor PSO 2,817.38 6.28 % PSO
------------ --------
Total Direct Labor $44,882.12 100.00 %
============ ========
CENTRAL AND SOUTH WEST SERVICES, INC Exhibit 2
P.O. BOX 21928 TULSA, OKLAHOMA Page 1 of 4
TELEPHONE NUMBER (918) 594 - 2000
STATEMENT OF PARTICIPATION IN RAIL CAR MAINTENANCE FACILITY
AT ALLIANCE, NEBRASKA PER SWEPCO - PSO AGREEMENT
MAY 1999
A. NUMBER OF RAIL CARS SERVICED
SWEPCO 409 PSO 0 CPL 0
B. AMOUNT OF EXPENDITURES: SWEPCO
COSTS ASSIGNED 100% TO SWEPCO:
PR4001 Direct Material to SWEPCO Coal Cars $78,944.49
PR4018 Stores Salvage - SWEPCO (5,525.91)
PR4101 Direct Labor to SWEPCO Coal Cars 56,213.80
PR4101 Charges Other than Direct Labor 34.23
PR4104 Direct Labor to Rework SWEPCO Material 14,807.62
PR4104 Charges Other than Direct Labor 11.35
PR4202 Ad Valorem Taxes - SWEPCO Coal Cars 0.00
PR4204 Ad Valorem Taxes - Facility - Direct - SWEPCO 0.00
PR4213 Employee Fringe Benefits - Direct Labor - SWEPCO 10,789.06
PR4230 Payroll Taxes - Direct Labor - SWEPCO 5,385.29
PR4238 Depreciation Expense - SWEPCO 10,604.00
PR4263 Lease - Supplemental Expenses - SWEPCO 0.00
PR4270 Outside Maintenance of SWEPCO Coal Cars 37,509.08
PR4272 Switching Fees - SWEPCO 2,245.06
PR4277 Repainting Coal Cars - SWEPCO 0.00
--------------
Total 100% SWEPCO Costs $211,018.07
==============
COSTS ASSIGNED 100% TO CPL: CPL
PR4003 Direct Material to CPL Coal Cars $7,594.80
PR4014 Inventory Carrying Charges - CPL 1,260.17
PR4021 Stores Salvage - CPL (31,790.40)
PR4105 Direct Labor to CPL Coal Cars 2,166.48
PR4105 Charges Other than Direct Labor 0.53
PR4106 Direct Labor to Rework CPL Material 0.00
PR4106 Charges Other than Direct Labor 0.00
PR4216 Ad Valorem Taxes - Facility - Direct - CPL 0.00
PR4217 Employee Fringe Benefits - Direct Labor - CPL 326.25
PR4218 Payroll taxes - Direct Labor - CPL 164.49
PR4240 Depreciation Expense - CPL 0.00
PR4269 Outside Maintenance of CPL Coal Cars 12.53
PR4274 Switching Fees - CPL 2,385.78
PR4279 Repainting Coal Cars - CPL 0.00
--------------
Total 100% CPL Costs ($17,879.37)
==============
<PAGE>
Exhibit 2
Page 2 of 4
COSTS ASSIGNED 100% TO PSO: PSO
PR4002 Direct Material to PSO Coal Cars $7.35
PR4015 Inventory Carrying Charges - PSO 1,962.03
PR4019 Stores Salvage - PSO 37,857.77
PR4102 Direct Labor to PSO Coal Cars 108.53
PR4102 Charges Other than Direct Labor 0.00
PR4103 Direct Labor to Rework PSO Material 190.53
PR4103 Charges Other than Direct Labor 3.28
PR4205 Ad Valorem Taxes - Facility - Direct - PSO 0.00
PR4214 Employee Fringe Benefits - Direct Labor - PSO 45.44
PR4231 Payroll Taxes - Direct Labor - PSO 22.65
PR4239 Depreciation Expense - PSO 0.00
PR4271 Outside Maintenance of PSO Coal Cars 2,645.30
PR4273 Switching Fees - PSO 304.93
PR4278 Repainting Coal Cars - PSO 0.00
--------------
Total 100% PSO Costs $43,147.81
==============
<PAGE>
Exhibit 2
Page 3 of 4
COSTS TO BE SHARED {Ratio of Direct Labor}: SHARED
PR4010 Shop Material $13,444.28
PR4011 Small Tools 216.85
PR4012 Facility Maintenance - Material 2,534.15
PR4013 Sale of Scrap (Cr.) 0.00
PR4016 Switch Engine Operation and Maintenance 1,007.48
PR4017 Equipment Operation and Maintenance 5,537.36
PR4020 Stores Salvage - Joint 0.00
PR4110 Supervision 19,714.39
PR4111 Clerical 6,457.14
PR4112 Training and Safety 1,331.14
PR4113 General Shop Labor 6,348.02
PR4114 Facility Maintenance - Labor 13,370.38
PR4116 Switch Engine Operation and Maintenance 12,736.36
PR4201 Ad Valorem Taxes - Facility 0.00
PR4520 Land Cr. 0.00
PR4206 Data Processing Charges 574.40
PR4207 General Office Overhead 583.05
PR4210 Employee Activities 0.00
PR4211 Employee Expenses 1,399.24
PR4212 Employee Fringe Benefits 9,086.50
PR4215 Employee Sick Benefits 0.00
PR4220 Injuries and Damages 0.00
PR4221 Insurance - Liability and Property 539.52
PR4225 Maintenance of Facilities (Contracted) 2,394.01
PR4226 Office Supplies and Expenses 1,205.31
PR4232 Payroll Taxes - Other 4,547.91
PR4233 Special Services 0.00
PR4234 Utilities - Heat, Light, Power and Water 6,094.41
PR4235 Utilities - Telephone 1,123.55
PR4236 Vehicle Expense 38.04
PR4237 Depreciation Expense 0.00
PR4250 Miscellaneous 0.00
PR4262 Lease - Basic - All Except Coal Cars 0.00
PR4264 Lease - Supplemental Expenses - Facility 0.00
Total Costs Shared on Cost Ratio
{see computation below} - $110,283.49
--------------
SWEPCO 96.64% $106,577.97
--------------
CPL 2.95% $3,253.36
--------------
PSO 0.41% $452.16
--------------
<PAGE>
Exhibit 2
Page 4 of 4
Capital Recovery on Capital Expenditures not
Covered Under Lease Agreement {Cost Ratio} 0.00
--------------
TOTAL COSTS FOR THE MONTH
SWEPCO $317,596.04
==============
CPL ($14,626.01)
==============
PSO $43,599.97
==============
C. COMPUTATION OF COST RATIO:
101, 104 Direct Labor SWEPCO $71,021.42 96.64 % SWEPCO
105, 106 Direct Labor CPL 2,166.48 2.95 CPL
102, 103 Direct Labor PSO 299.06 0.41 PSO
------------- -------
Total Direct Labor $73,486.96 100.00 %
============= =======
CENTRAL AND SOUTH WEST SERVICES, INC Exhibit 3
P.O. BOX 21928 TULSA, OKLAHOMA Page 1 of 4
TELEPHONE NUMBER (918) 594 - 2000
STATEMENT OF PARTICIPATION IN RAIL CAR MAINTENANCE FACILITY
AT ALLIANCE, NEBRASKA PER SWEPCO - PSO AGREEMENT
JUNE 1999
A. NUMBER OF RAIL CARS SERVICED
SWEPCO 539 PSO 107 CPL 0
B. AMOUNT OF EXPENDITURES: SWEPCO
COSTS ASSIGNED 100% TO SWEPCO:
PR4001 Direct Material to SWEPCO Coal Cars $272,190.46
PR4018 Stores Salvage - SWEPCO (119,806.92)
PR4101 Direct Labor to SWEPCO Coal Cars 32,101.15
PR4101 Charges Other than Direct Labor 35.25
PR4104 Direct Labor to Rework SWEPCO Material 9,072.68
PR4104 Charges Other than Direct Labor 9.42
PR4202 Ad Valorem Taxes - SWEPCO Coal Cars 0.00
PR4204 Ad Valorem Taxes - Facility - Direct - SWEPCO 0.00
PR4213 Employee Fringe Benefits - Direct Labor - SWEPCO 7,694.16
PR4230 Payroll Taxes - Direct Labor - SWEPCO 3,934.77
PR4238 Depreciation Expense - SWEPCO 10,604.00
PR4263 Lease - Supplemental Expenses - SWEPCO 0.00
PR4270 Outside Maintenance of SWEPCO Coal Cars 0.00
PR4272 Switching Fees - SWEPCO 456.52
PR4277 Repainting Coal Cars - SWEPCO 0.00
--------------
Total 100% SWEPCO Costs $216,291.49
==============
COSTS ASSIGNED 100% TO CPL: CPL
PR4003 Direct Material to CPL Coal Cars $0.00
PR4014 Inventory Carrying Charges - CPL 1,293.07
PR4021 Stores Salvage - CPL (2,166.42)
PR4105 Direct Labor to CPL Coal Cars 0.00
PR4105 Charges Other than Direct Labor 1.38
PR4106 Direct Labor to Rework CPL Material 0.00
PR4106 Charges Other than Direct Labor 6.95
PR4216 Ad Valorem Taxes - Facility- Direct- CPL 0.00
PR4217 Employee Fringe Benefits - Direct Labor - CPL 0.00
PR4218 Payroll taxes - Direct Labor - CPL 0.00
PR4240 Depreciation Expense - CPL 0.00
PR4269 Outside Maintenance of CPL Coal Cars 0.00
PR4274 Switching Fees - CPL 0.00
PR4279 Repainting Coal Cars - CPL 0.00
--------------
Total 100% CPL Costs ($865.02)
==============
<PAGE>
Exhibit 3
Page 2 of 4
COSTS ASSIGNED 100% TO PSO: PSO
PR4002 Direct Material to PSO Coal Cars $39,082.77
PR4015 Inventory Carrying Charges - PSO 2,013.26
PR4019 Stores Salvage - PSO (9,256.53)
PR4102 Direct Labor to PSO Coal Cars 4,376.50
PR4102 Charges Other than Direct Labor 0.07
PR4103 Direct Labor to Rework PSO Material 952.61
PR4103 Charges Other than Direct Labor 0.12
PR4205 Ad Valorem Taxes - Facility - Direct - PSO 0.00
PR4214 Employee Fringe Benefits - Direct Labor - PSO 995.85
PR4231 Payroll Taxes - Direct Labor - PSO 509.28
PR4239 Depreciation Expense - PSO 0.00
PR4271 Outside Maintenance of PSO Coal Cars 0.00
PR4273 Switching Fees - PSO 0.00
PR4278 Repainting Coal Cars - PSO 0.00
--------------
Total 100% PSO Costs $38,673.93
==============
<PAGE>
Exhibit 3
Page 3 of 4
COSTS TO BE SHARED {Ratio of Direct Labor}: SHARED
PR4010 Shop Material $3,066.10
PR4011 Small Tools 751.04
PR4012 Facility Maintenance - Material 580.03
PR4013 Sale of Scrap (Cr.) 0.00
PR4016 Switch Engine Operation and Maintenance 89.68
PR4017 Equipment Operation and Maintenance 2,145.54
PR4020 Stores Salvage - Joint 0.00
PR4110 Supervision 7,757.57
PR4111 Clerical 3,801.99
PR4112 Training and Safety 277.40
PR4113 General Shop Labor 3,826.75
PR4114 Facility Maintenance - Labor 8,685.04
PR4116 Switch Engine Operation and Maintenance 7,641.21
PR4201 Ad Valorem Taxes - Facility 0.00
PR4520 Land Cr. 0.00
PR4206 Data Processing Charges 574.40
PR4207 General Office Overhead 583.05
PR4210 Employee Activities 144.00
PR4211 Employee Expenses 3,832.69
PR4212 Employee Fringe Benefits 5,930.44
PR4215 Employee Sick Benefits 0.00
PR4220 Injuries and Damages 0.00
PR4221 Insurance - Liability and Property 2,620.53
PR4225 Maintenance of Facilities (Contracted) 2,055.00
PR4226 Office Supplies and Expenses 716.31
PR4232 Payroll Taxes - Other 3,057.49
PR4233 Special Services 0.00
PR4234 Utilities - Heat, Light, Power and Water 450.62
PR4235 Utilities - Telephone 690.42
PR4236 Vehicle Expense 59.76
PR4237 Depreciation Expense 0.00
PR4250 Miscellaneous 0.00
PR4262 Lease - Basic - All Except Coal Cars 0.00
PR4264 Lease - Supplemental Expenses - Facility 0.00
Total Costs Shared on Cost Ratio
{see computation below} - $59,337.06
--------------
SWEPCO 88.54% $52,537.03
--------------
CPL 0.00% $0.00
--------------
PSO 11.46% $6,800.03
--------------
<PAGE>
Exhibit 3
Page 4 of 4
Capital Recovery on Capital Expenditures not
Covered Under Lease Agreement {Cost Ratio} 0.00
--------------
TOTAL COSTS FOR THE MONTH
SWEPCO $268,828.52
==============
CPL ($865.02)
==============
PSO $45,473.96
==============
C. COMPUTATION OF COST RATIO:
101, 104 Direct Labor SWEPCO $41,173.83 88.54 % SWEPCO
105, 106 Direct Labor CPL 0.00 0.00 % CPL
102, 103 Direct Labor PSO 5,329.11 11.46 % PSO
------------- --------
Total Direct Labor $46,502.94 100.00 %
============= ========
