secwatch.observer — SEC 8-K summary
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Issuer:     AMERICAN ELECTRIC POWER CO INC (AEP)
CIK:        0000004904
Form:       8-K
Filed at:   2023-12-20T23:59:59+00:00
Accession:  0000004904-23-000150
Event type: regulatory
Sentiment:  negative
Materiality: 0.75
Item codes: 2.06, 7.01
LLM model:  deepseek-v4-flash:cloud@v2

PUCT disallowance forces SWEPCo to record $80-90M pretax impairment on Turk Plant
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- SWEPCo expects $80-90M pretax non-cash disallowance in Q4 2023 after PUCT preliminary order.
- PUCT will not address SWEPCo's request to exceed $1.522B Texas Capital Cost Cap in remand.
- Potential customer refunds of $0-200M (incl. interest) for revenues from Feb 2013 to Dec 2023, though not probable.
- AEP reaffirms 2024 operating earnings guidance, 6-7% long-term growth, and 14-15% FFO/Debt target.
- Impairment excluded from AEP's 2023 Operating Earnings (Non-GAAP); SWEPCo plans to challenge ruling.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/4904/000000490423000150/0000004904-23-000150-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/4904/000000490423000150/aep-20231214.htm
  HTML page:      https://secwatch.observer/filing/0000004904-23-000150

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