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AEP > SEC Filings for AEP > Form 8-K on 7-Jan-2014All Recent SEC Filings

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Form 8-K for AMERICAN ELECTRIC POWER CO INC


7-Jan-2014

Termination of a Material Definitive Agreement


ITEM 1.02 Termination of a Material Definitive Agreement.

Reference is made to page 55 in the Quarterly Report on Form 10-Q for the quarterly period ended September 30, 2013 filed by Appalachian Power Company
("APCo"), Indiana Michigan Power Company ("I&M"), Ohio Power Company ("OPCo")
and American Electric Power Company, Inc. ("AEP") under the title "Corporate Separation and Termination of Interconnection Agreement". Effective as of January 1, 2014, the Interconnection Agreement by and among APCo, I&M, Kentucky Power Company and OPCo (the "Interconnection Agreement") is terminated. The Interconnection Agreement was originally approved by the Federal Energy Regulatory Commission (the "FERC") in 1951 and subsequently amended several times. The Interconnection Agreement defined how the member parties shared the costs and benefits associated with their generation resources.

Effective as of January 1, 2014, the AEP System Interim Allowance Agreement (the "Allowance Agreement"), by and among the parties to the Interconnection Agreement, is terminated. The Allowance Agreement, had been approved by the FERC and provided, among other things, for the transfer of SO2 emission allowances associated with transactions under the Interconnection Agreement.

The transfer of OPCo's generation assets and related liabilities to an affiliate occurring on December 31, 2013 removed a large proportion of the pooled generation resources governed under the Interconnection Agreement and Allowance Agreement. OPCo completed the transfer pursuant to transactions approved by The Public Utilities Commission of Ohio and the FERC. As a result of these transfers, the parties thereto have terminated the Interconnection Agreement and the Allowance Agreement.

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