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Rate Matters (Tables) | 9 Months Ended
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Sep. 30, 2023
Regulated Generating Units to be Retired |
Plant |  |  |  |  |  | Net Book Value |  | Accelerated Depreciation Regulatory Asset |  |  |  | Cost of Removal Regulatory Liability |  |  | Projected Retirement Date |  |  | Current Authorized Recovery Period |  | Annual Depreciation (a)
|  |  |  |  |  | (dollars in millions)
Northeastern Plant, Unit 3 |  |  |  |  |  | $ | 112.5 |  |  | $ | 159.5 |  |  |  |  | $ | 20.4 |  | (b) |  | 2026 |  |  | (c) |  | $ | 15.0 |
Welsh Plant, Units 1 and 3 |  |  |  |  |  | 368.8 |  |  | 115.5 |  |  |  |  | 58.0 |  | (d) |  | 2028 | (e) |  | (f) |  | 38.6 |
(a)Represents the amount of annual depreciation that has been collected from customers over the prior 12-month period. (b)Includes Northeastern Plant, Unit 4, which was retired in 2016. Removal of Northeastern Plant, Unit 4, will be performed with the removal of Northeastern Plant, Unit 3, after retirement. (c)Northeastern Plant, Unit 3 is currently being recovered through 2040. (d)Includes Welsh Plant, Unit 2, which was retired in 2016. Removal of Welsh Plant, Unit 2, will be performed with the removal of Welsh Plant, Units 1 and 3, after retirement. (e)Represents projected retirement date of coal assets, units are being evaluated for conversion to natural gas after 2028. (f)Unit 1 is being recovered through 2027 in the Louisiana jurisdiction and through 2037 in the Arkansas and Texas jurisdictions. Unit 3 is being recovered through 2032 in the Louisiana jurisdiction and through 2042 in the Arkansas and Texas jurisdictions.
Regulatory Assets Pending Final Regulatory Approval |
|  | AEP
|  | September 30, |  | December 31,
|  | 2023 |  | 2022
Noncurrent Regulatory Assets |  | (in millions)
Regulatory Assets Currently Earning a Return |  |  |  |
Welsh Plant, Units 1 and 3 Accelerated Depreciation |  | $ | 115.5 |  |  | $ | 85.6 |
Pirkey Plant |  | 113.0 |  |  | 116.5 |
Unrecovered Winter Storm Fuel Costs (a) |  | 101.4 |  |  | 121.7 |
Dolet Hills Power Station Fuel Costs - Louisiana |  | 34.7 |  |  | 32.0 |
Texas Mobile Generation Costs (b) |  | — |  |  | 17.6 |
Other Regulatory Assets Pending Final Regulatory Approval |  | 21.0 |  |  | 19.3 |
Regulatory Assets Currently Not Earning a Return |  |  |  |
Storm-Related Costs (c)(d)(e) |  | 385.8 |  |  | 407.2 |
2020-2022 Virginia Triennial Under-Earnings |  | 37.4 |  |  | 37.9 |
Plant Retirement Costs – Asset Retirement Obligation Costs |  | 25.9 |  |  | 25.9 |
Other Regulatory Assets Pending Final Regulatory Approval |  | 51.6 |  |  | 55.6 |
Total Regulatory Assets Pending Final Regulatory Approval | $ | 886.3 |  |  | $ | 919.3 |
(a)Includes $37 million and $37 million of unrecovered winter storm fuel costs recorded as a current regulatory asset as of September 30, 2023 and December 31, 2022, respectively. See the “February 2021 Severe Winter Weather Impacts in SPP” section below for additional information. (b)In October 2023, the PUCT issued an order approving a rider to recover deferred Texas Mobile Generation Costs. Recovery of deferred costs through the new rider is updated annually, subject to Commission review. (c)In October 2023, the PUCO issued an order approving recovery of $34 million in Ohio storm-related costs. (d)In April 2023, the LPSC issued an order approving the prudence and future recovery of the Louisiana storm-related regulatory assets. See “2021 Louisiana Storm Cost Filing” section below for additional information. (e)In June 2023, storms in the Oklahoma, Louisiana and Texas service territories caused power outages and extensive damage resulting in the deferral of $58 million, $29 million and $24 million, respectively. Recovery of these storm costs will be addressed in a future request.
|  | AEP Texas
|  | September 30, |  | December 31,
|  | 2023 |  | 2022
Noncurrent Regulatory Assets |  | (in millions)
Regulatory Assets Currently Earning a Return |  |  |  |
Texas Mobile Generation Costs (a) |  | $ | — |  |  | $ | 17.6 |
Regulatory Assets Currently Not Earning a Return |  |  |  |
Storm-Related Costs |  | 35.9 |  |  | 26.7 |
Vegetation Management Program |  | 5.2 |  |  | 5.2 |
Texas Retail Electric Provider Bad Debt Expense |  | 4.1 |  |  | 4.1 |
Other Regulatory Assets Pending Final Regulatory Approval |  | 16.3 |  |  | 13.4 |
Total Regulatory Assets Pending Final Regulatory Approval |  | $ | 61.5 |  |  | $ | 67.0 |
(a)In October 2023, the PUCT issued an order approving a rider to recover deferred Texas Mobile Generation Costs. Recovery of deferred costs through the new rider is updated annually, subject to Commission review.
|  | APCo
|  | September 30, |  | December 31,
|  | 2023 |  | 2022
Noncurrent Regulatory Assets |  | (in millions)
Regulatory Assets Currently Earning a Return |  |  |  |
COVID-19 – Virginia |  | $ | 7.0 |  |  | $ | 7.0 |
Regulatory Assets Currently Not Earning a Return |  |  |  |
Storm-Related Costs - West Virginia |  | 72.2 |  |  | 72.6 |
2020-2022 Virginia Triennial Under-Earnings |  | 37.4 |  |  | 37.9 |
Plant Retirement Costs – Asset Retirement Obligation Costs |  | 25.9 |  |  | 25.9 |
Other Regulatory Assets Pending Final Regulatory Approval |  | 5.9 |  |  | 1.1 |
Total Regulatory Assets Pending Final Regulatory Approval |  | $ | 148.4 |  |  | $ | 144.5 |
|  | I&M
|  | September 30, |  | December 31,
|  | 2023 |  | 2022
Noncurrent Regulatory Assets |  | (in millions)
Regulatory Assets Currently Earning a Return |  |  |  |
Other Regulatory Assets Pending Final Regulatory Approval |  | $ | 0.2 |  |  | $ | 0.1 |
Regulatory Assets Currently Not Earning a Return |  |  |  |
Storm-Related Costs - Indiana |  | 29.4 |  |  | 21.6 |
Other Regulatory Assets Pending Final Regulatory Approval |  | 2.7 |  |  | 2.0 |
Total Regulatory Assets Pending Final Regulatory Approval |  | $ | 32.3 |  |  | $ | 23.7 |
|  | OPCo
|  | September 30, |  | December 31,
|  | 2023 |  | 2022
Noncurrent Regulatory Assets |  | (in millions)
Regulatory Assets Currently Not Earning a Return |  |  |  |
Storm-Related Costs (a) |  | $ | 21.2 |  |  | $ | 33.8 |
Total Regulatory Assets Pending Final Regulatory Approval |  | $ | 21.2 |  |  | $ | 33.8 |
(a)In October 2023, the PUCO issued an order approving recovery of $34 million in storm-related costs.
|  | PSO
|  | September 30, |  | December 31,
|  | 2023 |  | 2022
Noncurrent Regulatory Assets |  | (in millions)
Regulatory Assets Currently Not Earning a Return |  |  |  |
Storm-Related Costs (a) |  | $ | 92.8 |  |  | $ | 25.5 |
Other Regulatory Assets Pending Final Regulatory Approval |  | 0.2 |  |  | 0.1 |
Total Regulatory Assets Pending Final Regulatory Approval |  | $ | 93.0 |  |  | $ | 25.6 |
(a)In June 2023, storms caused power outages and extensive damage to the Oklahoma service territory, resulting in the deferral of $58 million. Recovery for these storm costs will be addressed in a future request.
|  | SWEPCo
|  | September 30, |  | December 31,
|  | 2023 |  | 2022
Noncurrent Regulatory Assets |  | (in millions)
Regulatory Assets Currently Earning a Return |  |  |  |
Welsh Plant, Units 1 and 3 Accelerated Depreciation |  | $ | 115.5 |  |  | $ | 85.6 |
Pirkey Plant |  | 113.0 |  |  | 116.5 |
Unrecovered Winter Storm Fuel Costs (a) |  | 101.4 |  |  | 121.7 |
Dolet Hills Power Station Fuel Costs - Louisiana |  | 34.7 |  |  | 32.0 |
Dolet Hills Power Station |  | 12.0 |  |  | 9.7 |
Other Regulatory Assets Pending Final Regulatory Approval |  | 1.7 |  |  | 2.5 |
Regulatory Assets Currently Not Earning a Return |  |  |  |
Storm-Related Costs (b)(c) |  | 53.4 |  |  | 151.5 |
Asset Retirement Obligation - Louisiana |  | — |  |  | 11.8 |
Other Regulatory Assets Pending Final Regulatory Approval |  | 14.8 |  |  | 16.0 |
Total Regulatory Assets Pending Final Regulatory Approval |  | $ | 446.5 |  |  | $ | 547.3 |
(a)Includes $37 million and $37 million of unrecovered winter storm fuel costs recorded as a current regulatory asset as of September 30, 2023 and December 31, 2022, respectively. See the “February 2021 Severe Winter Weather Impacts in SPP” section below for additional information. (b)In April 2023, the LPSC issued an order approving the prudence and future recovery of the Louisiana storm-related regulatory assets. See “2021 Louisiana Storm Cost Filing” section below for additional information. (c)In June 2023, additional storms in the Louisiana and Texas service territories caused power outages and extensive damage resulting in the deferral of $29 million and $24 million, respectively. Recovery of these storm costs will be addressed in a future request.
Southwestern Electric Power Co [Member] | February 2021 Severe Storm Fuel Costs |
Natural Gas Expenses and Purchases of Electricity to be Recovered from Customers [Table Text Block] |
Jurisdiction |  | September 30, 2023 |  | December 31, 2022 |  | Approved Recovery Period |  | Approved Carrying Charge
|  | (in millions) |  |  |  |
Arkansas |  | $ | 59.4 |  |  | $ | 74.9 |  |  | 6 years |  | (a)
Louisiana |  | 101.4 |  |  | 121.7 |  |  | (b) |  | (b)
Texas |  | 108.6 |  |  | 132.4 |  |  | 5 years |  | 1.65%
Total |  | $ | 269.4 |  |  | $ | 329.0 |  |  |  |  |
(a)SWEPCo is permitted to record carrying costs on the unrecovered balance of fuel costs at a weighted-cost of capital approved by the APSC. The APSC will conduct an audit of these costs in 2024. SWEPCo’s direct testimony in support of the costs is due in December 2023. (b)In March 2021, the LPSC approved a special order granting a temporary modification to the FAC and shortly after SWEPCo began recovery of its Louisiana jurisdictional share of these fuel costs based on a five-year recovery period inclusive of an interim carrying charge equal to the prime rate. The special order states the fuel and purchased power costs incurred will be subject to a future LPSC audit.

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