COLUMBUS, Ohio, Sept. 6, 2017 /PRNewswire/ -- American
Electric Power (NYSE: AEP) Executive Vice President and Chief
Financial Officer Brian X. Tierney
will meet with investors Sept. 7 at
the Barclays CEO Energy-Power Conference in New York City.
During the meetings, the company expects to discuss the cost
impacts of Hurricane Harvey on its service territory in AEP Texas.
Preliminary storm cost estimates are expected to be approximately
$385 million, of which $95 million relates to operating and maintenance
expenses. Regulatory mechanisms in Texas allow AEP Texas to defer these costs for
future collection.
Handout slides for the conference will be posted at
http://www.aep.com/go/webcast before 9:30
a.m. EDT Sept. 7.
American Electric Power, based in Columbus, Ohio, is focused on building a
smarter energy infrastructure and delivering new technologies and
custom energy solutions to our customers. AEP's more than 17,000
employees operate and maintain the nation's largest electricity
transmission system and more than 224,000 miles of distribution
lines to efficiently deliver safe, reliable power to nearly 5.4
million regulated customers in 11 states. AEP also is one of the
nation's largest electricity producers with approximately 33,000
megawatts of diverse generating capacity, including 4,200 megawatts
of renewable energy. AEP's family of companies includes utilities
AEP Ohio, AEP Texas, Appalachian Power (in Virginia and West
Virginia), AEP Appalachian Power (in Tennessee), Indiana Michigan Power, Kentucky
Power, Public Service Company of Oklahoma, and Southwestern Electric Power
Company (in Arkansas, Louisiana and east Texas). AEP also owns AEP Energy, AEP Energy
Partners, AEP OnSite Partners, and AEP Renewables, which provide
innovative competitive energy solutions nationwide.
This report made by American Electric Power and its Registrant
Subsidiaries contains forward-looking statements within the meaning
of Section 21E of the Securities Exchange Act of 1934. Although AEP
and each of its Registrant Subsidiaries believe that their
expectations are based on reasonable assumptions, any such
statements may be influenced by factors that could cause actual
outcomes and results to be materially different from those
projected. Among the factors that could cause actual results to
differ materially from those in the forward-looking statements are:
economic growth or contraction within and changes in market demand
and demographic patterns in AEP service territories; inflationary
or deflationary interest rate trends; volatility in the financial
markets, particularly developments affecting the availability or
cost of capital to finance new capital projects and refinance
existing debt; the availability and cost of funds to finance
working capital and capital needs, particularly during periods when
the time lag between incurring costs and recovery is long and the
costs are material; electric load and customer growth; weather
conditions, including storms and drought conditions, and AEP's
ability to recover significant storm restoration costs; the cost of
fuel and its transportation and the creditworthiness and
performance of fuel suppliers and transporters and the cost of
storing and disposing of used fuel, including coal ash and spent
nuclear fuel; availability of necessary generating capacity and the
performance of AEP's generating plants and the availability of
fuel, including processed nuclear fuel, parts and service from
reliable vendors; AEP's ability to recover fuel and other energy
costs through regulated or competitive electric rates; AEP's
ability to build transmission lines and facilities (including the
ability to obtain any necessary regulatory approvals and permits)
when needed at acceptable prices and terms and to recover those
costs; new legislation, litigation and government regulation,
including oversight of nuclear generation, energy commodity trading
and new or heightened requirements for reduced emissions of sulfur,
nitrogen, mercury, carbon, soot or particulate matter and other
substances that could impact the continued operation, cost
recovery, and/or profitability of AEP's generation plants and
related assets; evolving public perception of the risks associated
with fuels used before, during and after the generation of
electricity, including nuclear fuel; a reduction in the federal
statutory tax rate that could result in an accelerated return of
deferred federal income taxes to customers; timing and resolution
of pending and future rate cases, negotiations and other regulatory
decisions, including rate or other recovery of new investments in
generation, distribution and transmission service and environmental
compliance; resolution of litigation; AEP's ability to constrain
operation and maintenance costs; AEP's ability to develop and
execute a strategy based on a view regarding prices of electricity
and gas; prices and demand for power generated and sold at
wholesale; changes in technology, particularly with respect to
energy storage and new, developing, alternative or distributed
sources of generation; AEP's ability to recover through rates any
remaining unrecovered investment in generating units that may be
retired before the end of their previously projected useful lives;
volatility and changes in markets for capacity and electricity,
coal, and other energy-related commodities, particularly changes in
the price of natural gas; changes in utility regulation and the
allocation of costs within regional transmission organizations,
including ERCOT, PJM and SPP; AEP's ability to successfully and
profitably manage competitive generation assets, including the
evaluation and execution of strategic alternatives for these assets
as some of the alternatives could result in a loss; changes in the
creditworthiness of the counterparties with whom AEP has
contractual arrangements, including participants in the energy
trading market; actions of rating agencies, including changes in
the ratings of AEP debt; the impact of volatility in the capital
markets on the value of the investments held by AEP's pension,
other postretirement benefit plans, captive insurance entity and
nuclear decommissioning trust and the impact of such volatility on
future funding requirements; accounting pronouncements periodically
issued by accounting standard-setting bodies; and other risks and
unforeseen events, including wars, the effects of terrorism
(including increased security costs), embargoes, cyber security
threats and other catastrophic events.
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SOURCE American Electric Power