35-CERT 1 cctsec.txt OHIO POWER COMPANY COOK COAL TERMINAL QUARTERLY REPORT PER REQUIREMENTS OF HOLDING COMPANY ACT RELEASE NO. 22977 BY MONTH, FOR THE QUARTER ENDED MARCH 31, 2002 CONTENTS Page Statements of Transfer Fee Billings 1 Summary of Costs Incurred 2 Calculation of Allowed Cost of Capital - Effective April 1, 2002 3 OHIO POWER COMPANY COOK COAL TERMINAL STATEMENTS OF TRANSFER FEE BILLINGS BY MONTH, FOR THE QUARTER ENDED MARCH 31, 2002
January 2002 February 2002 March 2002 ----------------------------- ----------------------------- ----------------------------- Billings Billings Billings Tons Fee Amount Tons Fee Amount Tons Fee Amount ---- --- ------ ---- --- ------ ---- --- ------ (per ton) (000) (per ton) (000) (per ton) (000) SERVICE TO AFFILIATES Cardinal Units 2 & 3 . - $ - $ - - $1.23 $ 121 - $ - $ - Kammer . . . . . . . . - - - 17,372 $1.23 21 27,372 $1.23 34 Mountaineer Plant. . . 107,016 $1.23 131 63,386 $(0.68) (43)* 111,418 $1.23 137 Tanners Creek. . . . . 33,343 $1.23 41 46,426 $1.23 57 28,128 $1.23 34 Rockport Plant . . . . 648,633 $1.23 798 714,866 $1.23 880 463,091 $1.23 570 SERVICE TO NON-AFFILIATES 774,553 $1.13 875 668,298 $1.15 767 618,157 $1.11 688 ------------------------- --------- ------ --------- ------ --------- ------ TOTAL. . . . . . . . . 1,563,545 $1,845 1,510,348 $1,803 1,248,166 $1,463 ========= ====== ========= ====== ========= ====== *Includes a billing credit of $121,000.
OHIO POWER COMPANY COOK COAL TERMINAL SUMMARY OF COSTS INCURRED BY MONTH, FOR THE QUARTER ENDED MARCH 31, 2002 Three Months January February March Ended 2002 2002 2002 3/31/02 ------- -------- ----- ------- (in thousands) Rents. . . . . . . . . . . . . . $ 610 $ 609 $ 636 $1,855 Labor-UMW* . . . . . . . . . . . 425 60 150 635 Benefits-UMW*. . . . . . . . . . 152 93 489 734 Salaries and Benefits-Nonunion . 185 42 124 351 Material & Supplies. . . . . . . 148 241 86 475 Billed Services. . . . . . . . . (30) (15) 465 420 Taxes**. . . . . . . . . . . . . 53 53 53 159 Administrative and General . . . 157 99 101 357 Inventory Adjustments*** . . . . - - (1) (1) Electricity. . . . . . . . . . . 69 80 74 223 Cost-of-Capital. . . . . . . . . 21 28 25 74 ------ ------ ------ ------ Total. . . . . . . . . $1,790 $1,290 $2,202 $5,282 ====== ====== ====== ====== * United Mine Workers of America. ** Excludes FICA, Federal Unemployment and State Unemployment. These costs are reflected in benefits. OHIO POWER COMPANY COOK COAL TERMINAL AND RAIL CAR MAINTENANCE FACILITY RATE OF RETURN ON INVESTMENT CAPITALIZATION AFTER-TAX @12/31/01 PERCENT EFFECTIVE WEIGHTED COMPONENT (000) OF TOTAL COST RATE OF RETURN --------- -------------- -------- --------- -------------- Long-term Debt $1,194,568(a) 49.67% 6.65%(c) 3.30% Preferred Stock 25,498 1.06% 4.94%(c) 0.05% Common Stock 1,184,785(b) 49.27% 12.81%(d) 6.31% ---------- ------ ---- Total $2,404,851 100.00% 9.66%* ========== ====== ==== a) Includes Long-Term Debt due in one-year and is net of unamortized debt premium and discount, unamortized debt expense, and the unamortized loss on reacquired debt. b) Common Equity includes the premium on preferred stock and excludes undistributed subsidiary earnings. c) Cost at 12/31/01. d) The rate allowed by the PUCO in 1995 in a retail rate settlement approved in March 1995. * Rate will be applied for billing purposes to the twelve months period commencing April 1, 2002.