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AEP’s $62M Request Resisted

Customers against picking up the tab for storm damage

January 15, 2013

COLUMBUS, Ohio (AP) — American Electric Power is facing opposition from around the state to the utility’s request to make its Ohio customers pick up a $62 million tab for repairs from last summer’s......

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(23)

mikeyd

Jan-17-13 8:12 AM

troll,i believe that a lot of these trees were here when the power lines went in.taking down the trees within 50 feet is a good idea.i couldn't get them to take out a tree that is within 10 feet.they don't listen to land owners.

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boxerboy

Jan-16-13 11:45 PM

Triton you're showing your blue collar background.

Privatize the profits, socialize the losses.

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walksabout

Jan-16-13 12:45 AM

some lost hundreds of dollas food because power was out. the fix. executiove action banning citizens posessing more food than necessary to exist one week. The excess food encourages over eating and oabeecity which run up costs to medical programs.

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TrollSlayer

Jan-15-13 11:07 PM

So AEP, with $52 billion in shareholder-owned capital investment, made less that $2 billion in profit last year. That’s less than a 4% annual return on investment. Like I said. Woo hoo.

Yes, they are a monopoly. A highly Government-regulated monopoly. Which is one reason their profit margin is so low. Don't like that? Write your Congressman.

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dyingov

Jan-15-13 9:57 PM

AEP made 1.9 Billion in profit for 2011, last numbers available. I like AEP, but they are a monopoly....

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dyingov

Jan-15-13 9:52 PM

Quarterly profits for AEP over the last few years.

Troll, You really think that companies are paying all the profits back on stocks? WOW, DUDE!!! I really need to start an investment scam......

Sept. 30, 2012 11.72% June 30, 2012 10.19% March 31, 2012 10.73% Dec. 31, 2011 8.94% Sept. 30, 2011 21.42% June 30, 2011 9.75% March 31, 2011 9.46% Dec. 31, 2010 5.13% Sept. 30, 2010 13.66% June 30, 2010 4.05% March 31, 2010 9.64% Dec. 31, 2009 7.25% Sept. 30, 2009 12.49% June 30, 2009 9.87% March 31, 2009 10.41%

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promo61

Jan-15-13 8:20 PM

@shempH: HAHAHAHA! Thanks for the laugh. Congrats on your retirement. Now if everything would stop costing more, right?

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mikeyd

Jan-15-13 7:27 PM

i told them to take out the whole tree,they wouldn't do that.all the trees on this road were trimmed the same way.i never complained until i saw them pulling out and that's how they were told to do it.

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walksabout

Jan-15-13 5:26 PM

in right to work states, CEO should be allowed to work for minimum wage if they choose.

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walksabout

Jan-15-13 5:24 PM

how can consumers run in the red ?

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ShempH

Jan-15-13 3:36 PM

@promo61, I'm retired, give me some!

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promo61

Jan-15-13 2:18 PM

Wrong Ugly; you didn't share in the intial investment to set up the grid now you want to buy in cheap.

@Shemp; taking your logic to the next step, you make higher wages than me so give me some.

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WVEXPAT

Jan-15-13 12:33 PM

The compensation plans of all of AEP executive management comes to about 0.0016% of total sales. Less than the proverbial drop in a bucket!

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TrollSlayer

Jan-15-13 10:50 AM

There’s a little more to it than just digging a ditch and burying the line. And one reason trees aren’t always trimmed as they should be is that tree owners object to proper trimming. Look at those lines sometime and imagine what property owners will say when the power company tells them every tree within fifty feet of that line has to come down. You think complaints about rates are bad...

And tell me why the power company should be responsible for trimming your trees, anyway. They're your trees. Keep them out of the power company's lines.

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mikeyd

Jan-15-13 10:35 AM

i'll dig the ditch in my front yard and they can come bury the line.i will agree to that.it'll save them some money.there's a reason they don't do proper tree trimming.

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TrollSlayer

Jan-15-13 10:23 AM

If it costs AEP money to upgrade their infrastructure, that money has to come from somewhere. It won’t come from the meager 3% profit the owners are making, and it won’t come from the paltry $9 million Tony is making. So either the customers need to pay the full cost of the service they’re receiving, or the taxpayers will have to cover it in the form of Government handouts. The choice you make depends on whether you believe in free market capitalism or crony capitalism. During the last several elections the majority of voters voted for the latter – GM bailouts, Solyndra scams, Cash for Clunkers, Obamacare - so it’s not hard to tell where we’re heading.

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TrollSlayer

Jan-15-13 10:22 AM

AEP provides electricity to over 5 million customers. Its total assets are $52 billion. You don’t pay the CEO of a multibillion-dollar company the same salary as you pay the CEO of a donut shop. Talent qualified to manage an operation of that size costs more. And that salary is set by shareholders, who are making a whopping 3% on their investment. If they’re satisfied with that yield, and that salary, it’s their company, and their business.

Now go back to Forbes and check out the salaries of a few other CEOs. You’ll find you got Tony cheap.

w ww.forbes.c om/lists/2012/12/ceo-compensation-12_land.html

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ShempH

Jan-15-13 9:40 AM

@TrollSlayer, Tony Alexander of First Energy makes about 9 million a year in compensation, 43 million over 5 years, Forbes and other sites vary. I would quess that compensation packages for AEP's CEO and other high executives are comparable. I think the point is, AEP can take measures to prevent costs such as this, and didn't. In a way we the taxpayers are paying for this disaster through Sandy Relief, maybe ask the Government and Feema for financial aid.

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TrollSlayer

Jan-15-13 8:58 AM

AEP paid $1.41 per share in dividends in 2012. It’s currently selling at $43 a share – the same as it was 5 years ago. Meaning the yield was about 3% and the capital gain on sales of shares was zero. Woo hoo. Big profits?

Over the last 25 years the cost of electricity has increased at a LOWER rate than most consumer goods. To keep prices low AEP is ALREADY sharing the profits with you, in the form of low electric bills. Thanks, AEP!

For those of you who begrudge the owners of the company that keeps your refrigerator running even 3% profit on their investment? You do it for less. Buy AEP stock, become an owner, make those outrageous 3% profits, and show ‘em how it’s done.

And in case you didn’t know it, ALL businesses pass on their costs to consumers. But keep bashing the good guys to save a few pennies on your electric bill and enjoy those future power outages. Because no company can run in the red.

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ShempH

Jan-15-13 8:57 AM

I purchase insurance and pay heavily for it to protect myself from costly and legal accidents. I'm quite sure there are avenues that AEP can take to lesser their costs too.

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mikeyd

Jan-15-13 8:56 AM

put some of YOUR own money back into YOUR company.cut the trees the right way instead of the half-ask job they do.i can tell you how to do it.$15 million per mile to bury cable.where did they come up with that?a ditch witch isn't that expensive.i can tell you where to rent one.quit bullying the people for more.people working in this business make really good money.profit share with the people if this company is going to ESOP.

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Triton

Jan-15-13 8:33 AM

This is silly and part of a bizarre American culture. AEP wants to do business and make a profit but any costs are to be passed on to the customers. So the dividends keep flowing but the bills just go up if there is a storm. We are without power for weeks and the AEP wants to bill us for those days without power and for the repairs. It does not make sense. Let them bill FEMA, not people already buried in the Obama economy.

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uglyassmf

Jan-15-13 3:07 AM

I would be happy to share the cost of fixing all of their broken stuff and burying lines if they are going to share the profits with me. what ever % age i pay to help them I would expect the same % age back in the form of a check once a YEAR in profit sharing. that's a fair deal

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