AEP Files 8-K Report

TL;DR

AEP filed an 8-K on May 2nd, check for 'Other Events' updates.

AI Summary

On May 2, 2024, American Electric Power Co., Inc. (AEP) filed an 8-K report detailing other events. The filing includes information related to Southwestern Electric Power Co., a member of AEP, and its common stock listed on the NASDAQ exchange.

Why It Matters

This filing provides an update on corporate events for American Electric Power and its subsidiary, Southwestern Electric Power Co., which may be relevant to investors tracking the company's regulatory and operational status.

Risk Assessment

Risk Level: low — The filing is a routine 8-K report for 'Other Events' and does not appear to disclose significant new risks or material adverse information.

Key Players & Entities

• AMERICAN ELECTRIC POWER CO INC (company) — Filer
• SOUTHWESTERN ELECTRIC POWER CO (company) — Subsidiary
• NASDAQ (company) — Exchange
• May 2, 2024 (date) — Report Date

FAQ

Key Financial Figures

• $6.50 — ctric Power Company, Inc. Common Stock, $6.50 par value AEP The NASDAQ Stock Market L
• $1.522 billion — nal capital costs for the Turk Plant of $1.522 billion (the Texas Capital Cost Cap). In 2014,
• $86 million — rded a pretax, non-cash disallowance of $86 million in the fourth quarter of 2023. The PU
• $160 m — e, probable revenue refund provision of $160 million, including interest, associated w
• $160 million — ary 2013 through December 31, 2023. The $160 million revenue refund provision represents man
• $104 million — hin a range of probable refunds between $104 million and $197 million, including interest. A
• $197 m — obable refunds between $104 million and $197 million, including interest. A hearing is

Filing Documents

• aep-20240502.htm (8-K) — 33KB
• 0000004904-24-000049.txt ( ) — 210KB
• aep-20240502.xsd (EX-101.SCH) — 3KB
• aep-20240502_def.xml (EX-101.DEF) — 18KB
• aep-20240502_lab.xml (EX-101.LAB) — 31KB
• aep-20240502_pre.xml (EX-101.PRE) — 18KB
• aep-20240502_htm.xml (XML) — 4KB

01. Other Information

Item 8.01. Other Information Reference is made to page 113 of the Form 10-Q for the period ended March 31, 2024 of American Electric Power Company (AEP) and of Southwestern Electric Power Company (SWEPCo) under SWEPCo Rate Matters (Applies to AEP and SWEPCo)' and the subheading 2012 Texas Base Rate Case' for a discussion of SWEPCo's Turk Plant and its base rate filing with the Public Utility Commission of Texas (PUCT). Previously, the PUCT imposed a cap on the recovery of jurisdictional capital costs for the Turk Plant of $1.522 billion (the Texas Capital Cost Cap). In 2014, the PUCT determined that Allowance for Funds Used During Construction (AFUDC) was excluded from the Turk Plant's Texas Capital Cost Cap and that decision was upheld by the Texas District Court in 2017. Subsequently, intervenors filed appeals with the Texas Third Court of Appeals. On August 11, 2021, the Texas Third Court of Appeals reversed the Texas District Court's judgment affirming the PUCT's order on AFUDC, concluding that the language of the PUCT's original 2008 order included AFUDC in the Texas Capital Cost Cap, and remanded the case to the PUCT for further proceedings. On December 14, 2023, the PUCT approved a preliminary order stating the PUCT will not address SWEPCo's request that would allow the PUCT to find cause to allow SWEPCo to exceed the Texas Capital Cost Cap in the current remand proceeding. As a result of the PUCT's approval of the preliminary order, SWEPCo believes it is probable the PUCT will disallow capitalized AFUDC in excess of the Texas Capital Cost Cap and recorded a pretax, non-cash disallowance of $86 million in the fourth quarter of 2023. The PUCT's December 2023 approval of the preliminary order determined that it will address, in the ongoing PUCT remand proceeding, any potential revenue refunds to customers that may be required by future PUCT orders. On May 2, 2024, the PUCT denied SWEPCo's appeal of a March 2024 Administrative Law Judge decision that s