secwatch.observer — SEC 8-K summary
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Issuer:     AMERICAN ELECTRIC POWER CO INC (AEP)
CIK:        0000004904
Form:       8-K
Filed at:   2024-01-11T23:59:59+00:00
Accession:  0000004904-24-000003
Event type: regulatory
Sentiment:  negative
Materiality: 0.75
Item codes: 2.06, 7.01
LLM model:  deepseek-v4-flash:cloud@v2

WVPSC disallows $232M in ENEC costs; AEP to take $222M Q4 impairment, reaffirms guidance
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- West Virginia PSC final order disallows ~$232M of ENEC regulatory asset balance for Appalachian Power and Wheeling Power.
- Remaining $321M under-recovered balance to be recovered over 10 years starting September 1, 2024.
- AEP expects a pretax non-cash disallowance of ~$222M ($127M APCo, $95M WPCo) in Q4 2023.
- Charge excluded from 2023 Operating Earnings (Non-GAAP); AEP reaffirms 2024 Op Earnings guidance, 6-7% growth rate, 14-15% FFO/Debt target.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/4904/000000490424000003/0000004904-24-000003-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/4904/000000490424000003/aep-20240109.htm
  HTML page:      https://secwatch.observer/filing/0000004904-24-000003

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer