COLUMBUS, Ohio, Aug. 28 /PRNewswire-FirstCall/ -- American Electric
Power (NYSE: AEP) has scheduled a live audio webcast of remarks by Michael
G. Morris, AEP chairman, president and chief executive officer, Sept. 3 at
the Lehman Brothers CEO Energy/Power Conference in New York.
Morris will address an audience of investors at 9:05 a.m. EDT. The
presentation can be accessed through the Internet at
http://www.AEP.com/go/webcast . The webcast also will be available after
the live event.
During the conference, which runs Sept. 2-4, AEP will reaffirm its 2008
ongoing earnings guidance of $3.10 to $3.30 per share.
American Electric Power is one of the largest electric utilities in the
United States, delivering electricity to more than 5 million customers in
11 states. AEP ranks among the nation's largest generators of electricity,
owning nearly 38,000 megawatts of generating capacity in the U.S. AEP also
owns the nation's largest electricity transmission system, a nearly
39,000-mile network that includes more 765-kilovolt extra-high voltage
transmission lines than all other U.S. transmission systems combined. AEP's
transmission system directly or indirectly serves about 10 percent of the
electricity demand in the Eastern Interconnection, the interconnected
transmission system that covers 38 eastern and central U.S. states and
eastern Canada, and approximately 11 percent of the electricity demand in
ERCOT, the transmission system that covers much of Texas. AEP's utility
units operate as 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's
headquarters are in Columbus, Ohio.
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 the
registrants 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: electric load
and customer growth; weather conditions, including storms; available
sources and costs of, and transportation for, fuels and the
creditworthiness and performance of fuel suppliers and transporters;
availability of generating capacity and the performance of AEP's generating
plants; AEP's ability to recover regulatory assets and stranded costs in
connection with deregulation; AEP's ability to recover increases in fuel
and other energy costs through regulated or competitive electric rates;
AEP's ability to build or acquire generating capacity (including the
company's ability to obtain any necessary regulatory approvals and permits)
when needed at acceptable prices and terms and to recover those costs
(including the costs of projects that are canceled) through applicable rate
cases or competitive rates; new legislation, litigation and government
regulation, including requirements for reduced emissions of sulfur,
nitrogen, mercury, carbon, soot or particulate matter and other substances;
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 (including disputes
arising from the bankruptcy of Enron Corp. and related matters); AEP's
ability to constrain operation and maintenance costs; the economic climate
and growth in AEP's service territory and changes in market demand and
demographic patterns; inflationary and interest rate trends; volatility in
the financial markets, particularly developments affecting the availability
of capital on reasonable terms and developments impairing AEP's ability to
refinance existing debt at attractive rates; AEP's ability to develop and
execute a strategy based on a view regarding prices of electricity, natural
gas and other energy-related commodities; 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 debt; volatility and changes in markets
for electricity, natural gas, coal, nuclear fuel and other energy-related
commodities; changes in utility regulation, including the implementation of
the recently-passed utility law in Ohio and the allocation of costs within
regional transmission organizations; accounting pronouncements periodically
issued by accounting standard-setting bodies; the impact of volatility in
the capital markets on the value of the investments held by AEP's pension,
other postretirement benefit plans and nuclear decommissioning trust;
prices for power that AEP generates and sells at wholesale; changes in
technology, particularly with respect to new, developing or alternative
sources of generation; other risks and unforeseen events, including wars,
the effects of terrorism (including increased security costs), embargoes
and other catastrophic events.
SOURCE American Electric Power
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Related links:
http://www.aep.com
http://www.AEP.com/go/webcast
http://www.prnewswire.com/comp/042050.html /
CONTACT:
David Hagelin, Corporate Media Relations of
American Electric Power, +1-614-716-1938
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