35-CERT 1 cctsec.txt FILE NO. 070-06322 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, 2003 CONTENTS Page Statements of Transfer Fee Billings 1 Summary of Costs Incurred 2 Calculation of Allowed Cost of Capital - Effective April 1, 2003 3 OHIO POWER COMPANY COOK COAL TERMINAL STATEMENTS OF TRANSFER FEE BILLINGS BY MONTH, FOR THE QUARTER ENDED MARCH 31, 2003
January 2003 February 2003 March 2003 ----------------------------- ----------------------------- ----------------------------- Billings Billings Billings Tons Fee Amount Tons Fee Amount Tons Fee Amount ---- --- ------ ---- --- ------ ---- --- ------ (per ton) (000) (per ton) (000) (per ton) (000) SERVICE TO AFFILIATES Rockport Plant . . . . 884,030 $1.48 $1,308 727,499 $1.48 $1,077 732,354 $1.48 $1,084 Tanners Creek . . . . 44,161 $1.48 65 26,400 $1.48 39 - $1.48 - SERVICE TO NON-AFFILIATES 601,638 $1.22 733 500,130 $1.22 608 632,556 $1.26 800 ------------------------- --------- ------ --------- ------ --------- ------ TOTAL. . . . . . . . . 1,529,829 $2,106 1,254,029 $1,724 1,364,910 $1,884 ========= ====== ========= ====== ========= ======
OHIO POWER COMPANY COOK COAL TERMINAL SUMMARY OF COSTS INCURRED BY MONTH, FOR THE QUARTER ENDED MARCH 31, 2003 Three Months January February March Ended 2003 2003 2003 3/31/03 ------- -------- ----- ------- (in thousands) Labor-UMW* . . . . . . . . . . . $ 507 $ 374 $ 434 $1,315 Benefits-UMW*. . . . . . . . . . 189 237 241 667 Operating Materials. . . . . . . 105 125 203 433 Materials and Services . . . . . 116 112 182 410 Other Billed Services. . . . . . 9 - 16 25 Taxes**. . . . . . . . . . . . . 151 112 86 349 Rentals. . . . . . . . . . . . . 576 588 582 1,746 Depreciation . . . . . . . . . . 9 9 9 27 Normalization. . . . . . . . . . 411 245 100 756 Other. . . . . . . . . . . . . . 659 558 598 1,815 ------ ------ ------ ------ Total. . . . . . . . . $2,732 $2,360 $2,451 $7,543 ====== ====== ====== ====== * 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 @12/31/02 PERCENT EFFECTIVE WEIGHTED COMPONENT (000) OF TOTAL COST RATE OF RETURN --------- -------------- -------- --------- -------------- Long-term Debt $1,059,119(a) 45.70% 7.54%(c) 3.44% Preferred Stock 25,498 1.10% 4.94%(c) 0.05% Common Stock 1,233,114(b) 53.20% 12.81%(d) 6.82% ---------- ------ ---- Total $2,317,731 100.00% 10.31%* ========== ====== ===== 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 12/31/02. 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, 2003.