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EFFECTS OF REGULATION (Tables) | 12 Months Ended
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Dec. 31, 2024
Regulatory Assets and Liabilities Disclosure [Abstract] |
Regulatory Assets, Early Retirement | The table below summarizes the net book value including CWIP, before cost of removal and materials and supplies, as of December 31, 2024, of generating facilities planned for early retirement:
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 |  |  |  |  |  | $ | 101.7 |  |  | $ | 189.0 |  |  |  |  | $ | 21.0 |  | (b) |  | 2026 |  | (c) |  | $ | 16.2 |
Welsh Plant, Units 1 and 3 |  |  |  |  |  | 324.3 |  |  | 168.6 |  |  |  |  | 57.6 |  | (d) |  | 2028 | (e) | (f) |  | 43.6 |
(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. (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 |
|  | AEP
|  | December 31, |  | Remaining Recovery Period
|  | 2024 |  | 2023 |
Current Regulatory Assets |  | (in millions) |  |
Under-recovered Fuel Costs - earns a return |  | $ | 245.7 |  |  | $ | 357.4 |  |  | 1 year
Under-recovered Fuel Costs - does not earn a return |  | 116.0 |  |  | 62.7 |  |  | 1 year
Unrecovered Winter Storm Fuel Costs - earns a return (a) |  | 84.2 |  |  | 93.9 |  |  | 1 year
Total Current Regulatory Assets |  | $ | 445.9 |  |  | $ | 514.0 |  |  |
Noncurrent Regulatory Assets |  |  |  |  |  |
Regulatory assets pending final regulatory approval: |  |  |  |  |  |
Regulatory Assets Currently Earning a Return |  |  |  |  |  |
Welsh Plant, Units 1 and 3 Accelerated Depreciation |  | $ | 168.6 |  |  | $ | 125.6 |  |  |
Pirkey Plant Accelerated Depreciation |  | 121.3 |  |  | 114.4 |  |  |
Storm-Related Costs |  | 51.0 |  |  | — |  |  |
Unrecovered Winter Storm Fuel Costs (a) |  | 33.5 |  |  | 60.1 |  |  |
Other Regulatory Assets Pending Final Regulatory Approval |  | 20.7 |  |  | 49.8 |  |  |
Total Regulatory Assets Currently Earning a Return |  | 395.1 |  |  | 349.9 |  |  |
Regulatory Assets Currently Not Earning a Return |  |  |  |  |  |
Plant Retirement Costs - Asset Retirement Obligation Costs (b) |  | 357.4 |  |  | 25.9 |  |  |
Storm-Related Costs |  | 300.8 |  |  | 408.9 |  |  |
NOLC - Costs (c) |  | 92.8 |  |  | — |  |  |
2024-2025 Virginia Under-Earnings |  | 78.4 |  |  | — |  |  |
Other Regulatory Assets Pending Final Regulatory Approval |  | 86.3 |  |  | 52.6 |  |  |
Total Regulatory Assets Currently Not Earning a Return |  | 915.7 |  |  | 487.4 |  |  |
Total Regulatory Assets Pending Final Regulatory Approval |  | 1,310.8 |  |  | 837.3 |  |  |
Regulatory assets approved for recovery: |  |  |  |  |  |
Regulatory Assets Currently Earning a Return |  |  |  |  |  |
Plant Retirement Costs - Unrecovered Plant (d) |  | 661.2 |  |  | 664.2 |  |  | 22 years
Long-term Under-recovered Fuel Costs - West Virginia |  | 283.8 |  |  | 291.5 |  |  | 10 years
Plant Retirement Costs - Asset Retirement Obligation Costs |  | 111.0 |  |  | 110.8 |  |  | 16 years
Storm-Related Costs |  | 106.7 |  |  | 170.9 |  |  | 7 years
Fuel Mine Closure Costs - Texas |  | 70.6 |  |  | 74.3 |  |  | 11 years
Pirkey Plant Accelerated Depreciation - Louisiana |  | 66.4 |  |  | 65.8 |  |  | 8 years
Unrecovered Winter Storm Fuel Costs (a) |  | 62.8 |  |  | 99.3 |  |  | 3 years
Kentucky Deferred Purchased Power Expenses |  | 45.0 |  |  | 43.5 |  |  | 3 years
Rockport Plant Dry Sorbent Injection System and Selective Catalytic Reduction |  | 37.3 |  |  | 46.9 |  |  | 4 years
Texas Mobile Temporary Emergency Electric Energy Facilities Rider |  | 32.6 |  |  | 33.4 |  |  | 2 years
Environmental Control Projects |  | 29.1 |  |  | 31.4 |  |  | 16 years
Ohio Basic Transmission Cost Rider |  | 26.1 |  |  | 42.2 |  |  | 2 years
Plant Retirement Costs - Unrecovered Plant, Dolet Hills Power Station, Louisiana |  | 19.0 |  |  | 40.8 |  |  | 8 years
Long-term Under-recovered Fuel Costs - Virginia |  | — |  |  | 107.0 |  |  |
Other Regulatory Assets Approved for Recovery |  | 159.9 |  |  | 124.9 |  |  | various
Total Regulatory Assets Currently Earning a Return |  | 1,711.5 |  |  | 1,946.9 |  |  |
Regulatory Assets Currently Not Earning a Return |  |  |  |  |  |
Pension and OPEB Funded Status |  | 974.2 |  |  | 1,054.1 |  |  | 12 years
Plant Retirement Costs - Asset Retirement Obligation Costs |  | 360.1 |  |  | 330.2 |  |  | 18 years
Unamortized Loss on Reacquired Debt |  | 90.9 |  |  | 97.2 |  |  | 24 years
Storm-Related Costs |  | 66.5 |  |  | 38.5 |  |  | 7 years
Fuel and Purchased Power Adjustment Rider |  | 57.4 |  |  | 68.3 |  |  | 2 years
Unrealized Loss on Forward Commitments |  | 53.3 |  |  | 131.4 |  |  | 8 years
OVEC Purchased Power |  | 52.0 |  |  | 50.1 |  |  | 2 years
Plant Retirement Costs - Unrecovered Plant, Texas |  | 44.5 |  |  | 48.7 |  |  | 22 years
Cook Plant Nuclear Refueling Outage Levelization |  | 43.0 |  |  | 55.7 |  |  | 3 years
Smart Grid Costs |  | 33.8 |  |  | 26.3 |  |  | 2 years
Postemployment Benefits |  | 27.9 |  |  | 30.6 |  |  | 3 years
Ohio Enhanced Service Reliability Plan |  | 26.2 |  |  | 35.3 |  |  | 2 years
2020-2022 Virginia Triennial Under Earnings |  | 26.0 |  |  | 37.4 |  |  | 3 years
Ohio Distribution Investment Rider |  | 11.0 |  |  | 35.3 |  |  | 2 years
Other Regulatory Assets Approved for Recovery |  | 240.1 |  |  | 269.1 |  |  | various
Total Regulatory Assets Currently Not Earning a Return |  | 2,106.9 |  |  | 2,308.2 |  |  |
Total Regulatory Assets Approved for Recovery |  | 3,818.4 |  |  | 4,255.1 |  |  |
Total Noncurrent Regulatory Assets |  | $ | 5,129.2 |  |  | $ | 5,092.4 |  |  |
(a)See “February 2021 Severe Winter Weather Impacts in SPP” section of Note 4 for additional information. (b)See “Federal EPA’s Revised CCR Rule” section of Note 6 for additional information. (c)In the second quarter of 2024, requests seeking to establish a recovery mechanism for these regulatory assets were filed in Indiana, Oklahoma and Texas. In Indiana and Oklahoma, certain intervenors have challenged the recovery, or have proposed ratemaking treatment that would offset the recovery, of the regulatory assets. In the third quarter of 2024, PUCT Staff and certain intervenors in Texas requested a hearing and direct testimony was filed by SWEPCo in October 2024. In the fourth quarter of 2024, hearings on the merits were held in Indiana and Oklahoma. In January 2025, a second hearing on the merits in Oklahoma was held. A hearing is scheduled for the first quarter of 2025 in Texas. (d)Northeastern Plant, Unit 3 is approved for recovery through 2040, but expected to retire in 2026. PSO records a regulatory asset for accelerated depreciation. See “Regulated Generating Units to be Retired” section above for additional information.
|  | AEP Texas
|  | December 31, |  | Remaining Recovery Period
Regulatory Assets: |  | 2024 |  | 2023 |
|  | (in millions) |  |
Noncurrent Regulatory Assets |  |  |  |  |  |
Regulatory assets pending final regulatory approval: |  |  |  |  |  |
Regulatory Assets Currently Earning a Return |  |  |  |  |  |
Storm-Related Costs |  | $ | 41.3 |  |  | $ | — |  |  |
Total Regulatory Assets Currently Earning a Return |  | 41.3 |  |  | — |  |  |
Regulatory Assets Currently Not Earning a Return |  |  |  |  |  |
Deferred Pension and OPEB Costs |  | 15.6 |  |  | — |  |  |
Storm-Related Costs |  | 13.1 |  |  | 37.7 |  |  |
Line Inspection Costs |  | 5.8 |  |  | 5.7 |  |  |
Other Regulatory Assets Pending Final Regulatory Approval |  | 1.3 |  |  | 20.9 |  |  |
Total Regulatory Assets Currently Not Earning a Return |  | 35.8 |  |  | 64.3 |  |  |
Total Regulatory Assets Pending Final Regulatory Approval |  | 77.1 |  |  | 64.3 |  |  |
Regulatory assets approved for recovery: |  |  |  |  |  |
Regulatory Assets Currently Earning a Return |  |  |  |  |  |
Texas Mobile Temporary Emergency Electric Energy Facilities Rider |  | 32.6 |  |  | 33.4 |  |  | 2 years
Meter Replacement Costs |  | 5.8 |  |  | 9.4 |  |  | 2 years
Other Regulatory Assets Approved for Recovery |  | 22.4 |  |  | 0.7 |  |  | various
Total Regulatory Assets Currently Earning a Return |  | 60.8 |  |  | 43.5 |  |  |
Regulatory Assets Currently Not Earning a Return |  |  |  |  |  |
Pension and OPEB Funded Status |  | 177.5 |  |  | 183.2 |  |  | 12 years
Texas Transmission Cost Recovery Factor |  | 14.2 |  |  | — |  |  | 2 years
Peak Demand Reduction/Energy Efficiency |  | 9.2 |  |  | 9.2 |  |  | 2 years
Other Regulatory Assets Approved for Recovery |  | 14.8 |  |  | 15.1 |  |  | various
Total Regulatory Assets Currently Not Earning a Return |  | 215.7 |  |  | 207.5 |  |  |
Total Regulatory Assets Approved for Recovery |  | 276.5 |  |  | 251.0 |  |  |
Total Noncurrent Regulatory Assets |  | $ | 353.6 |  |  | $ | 315.3 |  |  |
|  | AEPTCo
|  | December 31, |  | Remaining Recovery Period
Regulatory Assets: |  | 2024 |  | 2023 |
|  | (in millions) |  |
Noncurrent Regulatory Assets |  |  |  |  |  |
Regulatory assets approved for recovery: |  |  |  |  |  |
Regulatory Assets Currently Not Earning a Return |  |  |  |  |  |
PJM/SPP Annual Formula Rate True-up |  | $ | 0.4 |  |  | $ | 3.1 |  |  | 2 years
Total Regulatory Assets Approved for Recovery |  | 0.4 |  |  | 3.1 |  |  |
Total Noncurrent Regulatory Assets |  | $ | 0.4 |  |  | $ | 3.1 |  |  |
|  | APCo
|  | December 31, |  | Remaining Recovery Period
Regulatory Assets: |  | 2024 |  | 2023 |
|  | (in millions) |  |
Current Regulatory Assets |  |  |  |  |  |
Under-recovered Fuel Costs, Virginia - earns a return |  | $ | 148.1 |  |  | $ | 147.4 |  |  | 1 year
Under-recovered Fuel Costs, West Virginia - does not earn a return |  | — |  |  | 8.0 |  |  | 1 year
Total Current Regulatory Assets |  | $ | 148.1 |  |  | $ | 155.4 |  |  |
Noncurrent Regulatory Assets |  |  |  |  |  |
Regulatory assets pending final regulatory approval: |  |  |  |  |  |
Regulatory Assets Currently Earning a Return |  |  |  |  |  |
Other Regulatory Assets Pending Final Regulatory Approval |  | $ | 1.1 |  |  | $ | 0.6 |  |  |
Total Regulatory Assets Currently Earning a Return |  | 1.1 |  |  | 0.6 |  |  |
Regulatory Assets Currently Not Earning a Return |  |  |  |  |  |
Plant Retirement Costs - Asset Retirement Obligation Costs (a) |  | 282.1 |  |  | 25.9 |  |  |
Storm-Related Costs - West Virginia |  | 144.2 |  |  | 91.5 |  |  |
2024-2025 Virginia Under-Earnings |  | 78.4 |  |  | — |  |  |
Pension Settlement |  | 17.8 |  |  | — |  |  |
Other Regulatory Assets Pending Final Regulatory Approval |  | 11.9 |  |  | 7.5 |  |  |
Total Regulatory Assets Currently Not Earning a Return |  | 534.4 |  |  | 124.9 |  |  |
Total Regulatory Assets Pending Final Regulatory Approval |  | 535.5 |  |  | 125.5 |  |  |
Regulatory assets approved for recovery: |  |  |  |  |  |
Regulatory Assets Currently Earning a Return |  |  |  |  |  |
Long-term Under-recovered Fuel Costs - West Virginia |  | 154.1 |  |  | 154.2 |  |  | 10 years
Plant Retirement Costs - Unrecovered Plant |  | 68.0 |  |  | 72.0 |  |  | 19 years
Long-term Under-recovered Fuel Costs - Virginia |  | — |  |  | 107.0 |  |  |
Other Regulatory Assets Approved for Recovery |  | 5.2 |  |  | 7.1 |  |  | various
Total Regulatory Assets Currently Earning a Return |  | 227.3 |  |  | 340.3 |  |  |
Regulatory Assets Currently Not Earning a Return |  |  |  |  |  |
Plant Retirement Costs - Asset Retirement Obligation Costs |  | 307.5 |  |  | 324.7 |  |  | 15 years
Pension and OPEB Funded Status |  | 107.9 |  |  | 115.8 |  |  | 12 years
Unamortized Loss on Reacquired Debt |  | 67.0 |  |  | 70.7 |  |  | 21 years
2020-2022 Virginia Triennial Under-Earnings |  | 26.0 |  |  | 37.4 |  |  | 3 years
Peak Demand Reduction/Energy Efficiency |  | 14.2 |  |  | 15.0 |  |  | 2 years
Postemployment Benefits |  | 13.2 |  |  | 14.9 |  |  | 3 years
Vegetation Management Program - West Virginia |  | 11.9 |  |  | 12.9 |  |  | 2 years
Virginia Generation Rate Adjustment Clause |  | 11.6 |  |  | 10.9 |  |  | 2 years
Excess SO 2 Allowance Inventory - Virginia |  | 10.5 |  |  | 11.8 |  |  | 8 years
Virginia Transmission Rate Adjustment Clause |  | 3.4 |  |  | 25.5 |  |  | 2 years
Unrealized Loss on Forward Commitments |  | — |  |  | 21.9 |  |  |
Other Regulatory Assets Approved for Recovery |  | 30.0 |  |  | 27.8 |  |  | various
Total Regulatory Assets Currently Not Earning a Return |  | 603.2 |  |  | 689.3 |  |  |
Total Regulatory Assets Approved for Recovery |  | 830.5 |  |  | 1,029.6 |  |  |
Total Noncurrent Regulatory Assets |  | $ | 1,366.0 |  |  | $ | 1,155.1 |  |  |
(a)See “Federal EPA’s Revised CCR Rule” section of Note 6 for additional information.
|  | I&M
|  | December 31, |  | Remaining Recovery Period
Regulatory Assets: |  | 2024 |  | 2023 |
|  | (in millions) |  |
Current Regulatory Assets |  |  |  |  |  |
Under-recovered Fuel Costs, Michigan - earns a return |  | $ | 10.6 |  |  | $ | 14.8 |  |  | 1 year
Total Current Regulatory Assets |  | $ | 10.6 |  |  | $ | 14.8 |  |  |
Noncurrent Regulatory Assets |  |  |  |  |  |
Regulatory assets pending final regulatory approval: |  |  |  |  |  |
Regulatory Assets Currently Earning a Return |  |  |  |  |  |
Other Regulatory Assets Pending Final Regulatory Approval |  | $ | 6.4 |  |  | $ | 0.2 |  |  |
Total Regulatory Assets Currently Earning a Return |  | 6.4 |  |  | 0.2 |  |  |
Regulatory Assets Currently Not Earning a Return |  |  |  |  |  |
Plant Retirement Costs - Asset Retirement Obligation Costs (a) |  | 74.0 |  |  | — |  |  |
NOLC Costs - Indiana (b) |  | 26.7 |  |  | — |  |  |
Storm-Related Costs - Indiana |  | 6.3 |  |  | 29.7 |  |  |
Other Regulatory Assets Pending Final Regulatory Approval |  | 1.6 |  |  | 3.3 |  |  |
Total Regulatory Assets Currently Not Earning a Return |  | 108.6 |  |  | 33.0 |  |  |
Total Regulatory Assets Pending Final Regulatory Approval |  | 115.0 |  |  | 33.2 |  |  |
Regulatory assets approved for recovery: |  |  |  |  |  |
Regulatory Assets Currently Earning a Return |  |  |  |  |  |
Plant Retirement Costs - Unrecovered Plant |  | 98.0 |  |  | 122.5 |  |  | 4 years
Rockport Plant Dry Sorbent Injection System and Selective Catalytic Reduction |  | 37.3 |  |  | 46.9 |  |  | 4 years
Cook Plant Uprate Project |  | 20.5 |  |  | 22.9 |  |  | 9 years
Deferred Cook Plant Life Cycle Management Project Costs - Michigan, FERC |  | 10.1 |  |  | 11.1 |  |  | 10 years
Cook Plant Turbine - Indiana |  | 7.8 |  |  | 8.4 |  |  | 14 years
Other Regulatory Assets Approved for Recovery |  | 21.1 |  |  | 17.5 |  |  | various
Total Regulatory Assets Currently Earning a Return |  | 194.8 |  |  | 229.3 |  |  |
Regulatory Assets Currently Not Earning a Return |  |  |  |  |  |
Income Taxes, Net |  | 108.8 |  |  | — |  |  | (c)
Cook Plant Nuclear Refueling Outage Levelization |  | 43.0 |  |  | 55.7 |  |  | 3 years
Storm-Related Costs - Indiana |  | 20.2 |  |  | 3.4 |  |  | 4 years
Pension and OPEB Funded Status |  | 14.6 |  |  | 25.4 |  |  | 12 years
Excess SO 2 Allowance Inventory - Indiana |  | 11.9 |  |  | 14.8 |  |  | 4 years
Unamortized Loss on Reacquired Debt |  | 10.9 |  |  | 11.8 |  |  | 24 years
Postemployment Benefits |  | 7.3 |  |  | 7.0 |  |  | 3 years
Environmental Cost Rider - Indiana |  | 1.4 |  |  | 8.1 |  |  | 2 years
Other Regulatory Assets Approved for Recovery |  | 20.2 |  |  | 17.6 |  |  | various
Total Regulatory Assets Currently Not Earning a Return |  | 238.3 |  |  | 143.8 |  |  |
Total Regulatory Assets Approved for Recovery |  | 433.1 |  |  | 373.1 |  |  |
Total Noncurrent Regulatory Assets |  | $ | 548.1 |  |  | $ | 406.3 |  |  |
(a)See “Federal EPA’s Revised CCR Rule” section of Note 6 for additional information. (b)In the second quarter of 2024, a request seeking to establish a recovery mechanism for these regulatory assets were filed in Indiana. Certain intervenors have challenged the recovery, or have proposed ratemaking treatment that would offset the recovery, of the regulatory assets. In the fourth quarter of 2024, a hearing on the merits was held in Indiana. (c)Recovered over the period for which the related deferred income tax reverse, which is generally based on the expected life for the underlying assets. Excess ADIT Associated with Certain Depreciable Property is refunded over the remaining depreciable life of the underlying assets. Excess ADIT that is Not Subject to Rate Normalization Requirements was $12 million for the year ended December 31, 2024 and is to be refunded over 4 years.
|  | OPCo
|  | December 31, |  | Remaining Recovery Period
Regulatory Assets: |  | 2024 |  | 2023 |
|  | (in millions) |  |
Noncurrent Regulatory Assets |  |  |  |  |  |
Regulatory assets pending final regulatory approval: |  |  |  |  |  |
Regulatory Assets Currently Earning a Return |  |  |  |  |  |
Other Regulatory Assets Pending Final Regulatory Approval |  | $ | 0.4 |  |  | $ | — |  |  |
Total Regulatory Assets Currently Earning a Return |  | 0.4 |  |  | — |  |  |
Regulatory Assets Currently Not Earning a Return |  |  |  |  |  |
Other Regulatory Assets Pending Final Regulatory Approval |  | 0.1 |  |  | — |  |  |
Total Regulatory Assets Pending Final Regulatory Approval |  | 0.1 |  |  | 23.6 |  |  |
Total Regulatory Assets Pending Final Regulatory Approval |  | 0.5 |  |  | 23.6 |  |  |
Regulatory assets approved for recovery: |  |  |  |  |  |
Regulatory Assets Currently Earning a Return |  |  |  |  |  |
Ohio Basic Transmission Cost Rider |  | 26.1 |  |  | 42.2 |  |  | 2 years
Ohio Distribution Decoupling |  | — |  |  | 1.8 |  |  |
Total Regulatory Assets Currently Earning a Return |  | 26.1 |  |  | 44.0 |  |  |
Regulatory Assets Currently Not Earning a Return |  |  |  |  |  |
Pension and OPEB Funded Status |  | 134.0 |  |  | 147.1 |  |  | 12 years
OVEC Purchased Power |  | 52.0 |  |  | 50.1 |  |  | 2 years
Unrealized Loss on Forward Commitments |  | 47.6 |  |  | 50.8 |  |  | 8 years
Smart Grid Costs |  | 33.8 |  |  | 26.3 |  |  | 2 years
Storm-Related Costs |  | 28.6 |  |  | 30.9 |  |  | 2 years
Ohio Enhanced Service Reliability Plan |  | 26.2 |  |  | 35.3 |  |  | 2 years
Bad Debt Rider |  | 13.7 |  |  | 0.7 |  |  | 2 years
Ohio Distribution Investment Rider |  | 11.0 |  |  | 35.3 |  |  | 2 years
Other Regulatory Assets Approved for Recovery |  | 5.6 |  |  | 10.9 |  |  | various
Total Regulatory Assets Currently Not Earning a Return |  | 352.5 |  |  | 387.4 |  |  |
Total Regulatory Assets Approved for Recovery |  | 378.6 |  |  | 431.4 |  |  |
Total Noncurrent Regulatory Assets |  | $ | 379.1 |  |  | $ | 455.0 |  |  |
|  | PSO
|  | December 31, |  | Remaining Recovery Period
|  | 2024 |  | 2023 |
Regulatory Assets: |  | (in millions) |  |
Current Regulatory Assets |  |  |  |  |  |
Under-recovered Fuel Costs - earns a return |  | $ | 64.7 |  |  | $ | 118.3 |  |  | 1 year
Total Current Regulatory Assets |  | $ | 64.7 |  |  | $ | 118.3 |  |  |
Noncurrent Regulatory Assets |  |  |  |  |  |
Regulatory assets pending final regulatory approval: |  |  |  |  |  |
Regulatory Assets Currently Not Earning a Return |  |  |  |  |  |
NOLC - Costs (a) |  | $ | 16.4 |  |  | $ | — |  |  |
Storm-Related Costs |  | 4.9 |  |  | 88.5 |  |  |
Other Regulatory Assets Pending Final Regulatory Approval |  | 9.0 |  |  | 0.2 |  |  |
Total Regulatory Assets Pending Final Regulatory Approval |  | 30.3 |  |  | 88.7 |  |  |
Regulatory assets approved for recovery: |  |  |  |  |  |
Regulatory Assets Currently Earning a Return |  |  |  |  |  |
Plant Retirement Costs - Unrecovered Plant (b) |  | 274.0 |  |  | 254.1 |  |  | 22 years
Storm-Related Costs |  | 106.7 |  |  | 26.2 |  |  | 7 years
Environmental Control Projects |  | 21.2 |  |  | 22.5 |  |  | 16 years
Meter Replacement Costs |  | 10.1 |  |  | 14.1 |  |  | 3 years
Other Regulatory Assets Approved for Recovery |  | 13.4 |  |  | 8.4 |  |  | various
Total Regulatory Assets Currently Earning a Return |  | 425.4 |  |  | 325.3 |  |  |
Regulatory Assets Currently Not Earning a Return |  |  |  |  |  |
Pension and OPEB Funded Status |  | 57.6 |  |  | 62.6 |  |  | 12 years
Unrealized Loss on Forward Commitments |  | 3.9 |  |  | 29.9 |  |  | 2 years
Other Regulatory Assets Approved for Recovery |  | 10.6 |  |  | 16.2 |  |  | various
Total Regulatory Assets Currently Not Earning a Return |  | 72.1 |  |  | 108.7 |  |  |
Total Regulatory Assets Approved for Recovery |  | 497.5 |  |  | 434.0 |  |  |
Total Noncurrent Regulatory Assets |  | $ | 527.8 |  |  | $ | 522.7 |  |  |
(a)In the second quarter of 2024, a request seeking to establish a recovery mechanism for these regulatory assets was filed in Oklahoma. Certain intervenors have challenged the recovery, or have proposed ratemaking treatment that would offset the recovery, of the regulatory assets. In the fourth quarter of 2024 and in January 2025 hearings on the merits were held. (b)Northeastern Plant, Unit 3 is approved for recovery through 2040, but expected to retire in 2026. PSO records a regulatory asset for accelerated depreciation. See “Regulated Generating Units to be Retired” section above for additional information.
|  | SWEPCo
|  | December 31, |  | Remaining Recovery Period
|  | 2024 |  | 2023 |
Regulatory Assets: |  | (in millions) |  |
Current Regulatory Assets |  |  |  |  |  |
Unrecovered Winter Storm Fuel Costs - earns a return (a) |  | $ | 84.2 |  |  | $ | 93.9 |  |  | 1 year
Under-recovered Fuel Costs - earns a return (b) |  | 22.4 |  |  | 76.9 |  |  | 1 year
Total Current Regulatory Assets |  | $ | 106.6 |  |  | $ | 170.8 |  |  |
Noncurrent Regulatory Assets |  |  |  |  |  |
Regulatory assets pending final regulatory approval: |  |  |  |  |  |
Regulatory Assets Currently Earning a Return |  |  |  |  |  |
Welsh Plant, Units 1 and 3 Accelerated Depreciation |  | $ | 168.6 |  |  | $ | 125.6 |  |  |
Pirkey Plant Accelerated Depreciation |  | 121.3 |  |  | 114.4 |  |  |
Unrecovered Winter Storm Fuel Costs (a) |  | 33.5 |  |  | 60.1 |  |  |
Dolet Hills Power Station Accelerated Depreciation (c) |  | 11.8 |  |  | 12.0 |  |  |
Other Regulatory Assets Pending Final Regulatory Approval |  | 10.8 |  |  | 26.0 |  |  |
Total Regulatory Assets Currently Earning a Return |  | 346.0 |  |  | 338.1 |  |  |
Regulatory Assets Currently Not Earning a Return |  |  |  |  |  |
NOLC - Costs (d) |  | 49.6 |  |  | — |  |  |
Storm-Related Costs - Louisiana, Texas |  | 39.9 |  |  | 56.0 |  |  |
Other Regulatory Assets Pending Final Regulatory Approval |  | 18.7 |  |  | 13.7 |  |  |
Total Regulatory Assets Currently Not Earning a Return |  | 108.2 |  |  | 69.7 |  |  |
Total Regulatory Assets Pending Final Regulatory Approval |  | 454.2 |  |  | 407.8 |  |  |
Regulatory assets approved for recovery: |  |  |  |  |  |
Regulatory Assets Currently Earning a Return |  |  |  |  |  |
Fuel Mine Closure Costs - Texas |  | 70.6 |  |  | 74.3 |  |  | 11 years
Pirkey Plant Accelerated Depreciation - Louisiana |  | 66.4 |  |  | 65.8 |  |  | 8 years
Unrecovered Winter Storm Fuel Costs (b) |  | 62.8 |  |  | 99.3 |  |  | 3 years
Plant Retirement Costs - Unrecovered Plant, Arkansas |  | 40.2 |  |  | 44.4 |  |  | 18 years
Dolet Hills Power Station Fuel Costs - Louisiana |  | 21.7 |  |  | — |  |  | 3 years
Plant Retirement Costs - Unrecovered Plant, Dolet Hills Power Station - Louisiana |  | 19.0 |  |  | 40.8 |  |  | 8 years
Storm-Related Costs - Louisiana (e) |  | — |  |  | 144.7 |  |  |
Other Regulatory Assets Approved for Recovery |  | 12.6 |  |  | 13.8 |  |  | various
Total Regulatory Assets Currently Earning a Return |  | 293.3 |  |  | 483.1 |  |  |
Regulatory Assets Currently Not Earning a Return |  |  |  |  |  |
Pension and OPEB Funded Status |  | 93.2 |  |  | 109.2 |  |  | 12 years
Plant Retirement Costs - Unrecovered Plant, Texas |  | 44.5 |  |  | 48.7 |  |  | 22 years
Plant Retirement Costs - Unrecovered Plant, Arkansas |  | 12.8 |  |  | 17.3 |  |  | 3 years
Unrealized Loss on Forward Commitments |  | 1.2 |  |  | 15.4 |  |  | 3 years
North Central Wind Rider |  | — |  |  | 20.2 |  |  |
Other Regulatory Assets Approved for Recovery |  | 22.1 |  |  | 30.1 |  |  | various
Total Regulatory Assets Currently Not Earning a Return |  | 173.8 |  |  | 240.9 |  |  |
Total Regulatory Assets Approved for Recovery |  | 467.1 |  |  | 724.0 |  |  |
Total Noncurrent Regulatory Assets |  | $ | 921.3 |  |  | $ | 1,131.8 |  |  |
(a)See “February 2021 Severe Winter Weather Impacts in SPP” section of Note 4 for additional information. (b)2024 amount related to Arkansas, Louisiana and Texas jurisdictions. 2023 amount related to Arkansas and Texas jurisdictions. (c)Amounts include the FERC jurisdiction. (d)In the second quarter of 2024, a request seeking to establish a recovery mechanism for the Texas jurisdictional share of these regulatory assets was filed in Texas. In the third quarter of 2024, PUCT Staff and certain intervenors in Texas requested a hearing and direct testimony was filed by SWEPCo in October 2024. A hearing is scheduled for the first quarter of 2025 in Texas. (e)In July 2024, the LPSC approved SWEPCo’s securitization of storm costs for Hurricanes Laura and Delta, as well as a storm reserve. See “2021 Louisiana Storm Cost Filing” section of Note 4 for additional information.
Regulatory Liabilities |
|  | AEP
|  | December 31, |  | Remaining
|  | 2024 |  | 2023 |  | Refund Period
Current Regulatory Liabilities |  | (in millions) |  |
Over-recovered Fuel Costs - pays a return |  | $ | 21.6 |  |  | $ | 3.3 |  |  | 1 year
Over-recovered Fuel Costs - does not pay a return |  | 31.9 |  |  | 23.2 |  |  | 1 year
Total Current Regulatory Liabilities |  | $ | 53.5 |  |  | $ | 26.5 |  |  |
Noncurrent Regulatory Liabilities and Deferred Investment Tax Credits |  |  |  |  |  |
Regulatory liabilities pending final regulatory determination: |  |  |  |  |  |
Regulatory Liabilities Currently Paying a Return |  |  |  |  |  |
Income Taxes, Net (a) |  | $ | 176.0 |  |  | $ | 103.1 |  |  |
Total Regulatory Liabilities Currently Paying a Return |  | 176.0 |  |  | 103.1 |  |  |
Regulatory Liabilities Currently Not Paying a Return |  |  |  |  |  |
FERC 2021 Transmission Formula Rate Challenge Refunds |  | 131.3 |  |  | 103.1 |  |  |
Other Regulatory Liabilities Pending Final Regulatory Determination |  | 14.7 |  |  | 1.7 |  |  |
Total Regulatory Liabilities Currently Not Paying a Return |  | 146.0 |  |  | 104.8 |  |  |
Total Regulatory Liabilities Pending Final Regulatory Determination |  | 322.0 |  |  | 207.9 |  |  |
Regulatory liabilities approved for payment: |  |  |  |  |  |
Regulatory Liabilities Currently Paying a Return |  |  |  |  |  |
Asset Removal Costs |  | 3,828.0 |  |  | 3,563.5 |  |  | (b)
Income Taxes, Net (a) |  | 1,622.1 |  |  | 2,179.7 |  |  | (c)
Rockport Plant, Unit 2 Accelerated Depreciation for Leasehold Improvements |  | 35.9 |  |  | 44.9 |  |  | 4 years
Other Regulatory Liabilities Approved for Payment |  | 40.4 |  |  | 35.0 |  |  | various
Total Regulatory Liabilities Currently Paying a Return |  | 5,526.4 |  |  | 5,823.1 |  |  |
Regulatory Liabilities Currently Not Paying a Return |  |  |  |  |  |
Excess Nuclear Decommissioning Funding |  | 2,137.3 |  |  | 1,721.9 |  |  | (d)
Deferred Investment Tax Credits |  | 65.1 |  |  | 154.5 |  |  | 29 years
Demand Side Management |  | 52.6 |  |  | 31.3 |  |  | 2 years
Spent Nuclear Fuel |  | 50.4 |  |  | 47.6 |  |  | (d)
2017-2019 Virginia Triennial Revenue Provision |  | 35.2 |  |  | 37.1 |  |  | 25 years
Peak Demand Reduction/Energy Efficiency |  | 32.8 |  |  | 26.4 |  |  | 2 years
Over-recovered Fuel Costs - Ohio |  | 32.1 |  |  | 26.1 |  |  | 8 years
Other Regulatory Liabilities Approved for Payment |  | 90.1 |  |  | 106.5 |  |  | various
Total Regulatory Liabilities Currently Not Paying a Return |  | 2,495.6 |  |  | 2,151.4 |  |  |
Total Regulatory Liabilities Approved for Payment |  | 8,022.0 |  |  | 7,974.5 |  |  |
Total Noncurrent Regulatory Liabilities and Deferred Investment Tax Credits |  | $ | 8,344.0 |  |  | $ | 8,182.4 |  |  |
(a)Predominately pays a return due to the inclusion of Excess ADIT in rate base. (b)Relieved as removal costs are incurred. (c)Refunded over the period for which the related deferred income tax reverse, which is generally based on the expected life for the underlying assets. Excess ADIT Associated with Certain Depreciable Property is refunded over the remaining depreciable life of the underlying assets. Excess ADIT that is Not Subject to Rate Normalization Requirements were $192 million and $228 million for the years ended December 31, 2024 and 2023, respectively. The remaining balance of Excess ADIT that is Not Subject to Rate Normalization Requirements as of December 31, 2024 is to be refunded over 10 years. (d)Relieved when plant is decommissioned.
|  | AEP Texas
|  | December 31, |  | Remaining Refund Period
Regulatory Liabilities: |  | 2024 |  | 2023 |
|  | (in millions) |  |
Noncurrent Regulatory Liabilities and Deferred Investment Tax Credits |  |  |  |  |  |
Regulatory liabilities pending final regulatory determination: |  |  |  |  |  |
Regulatory Liabilities Currently Paying a Return |  |  |  |  |  |
Income Taxes, Net (a) |  | $ | — |  |  | $ | 13.0 |  |  |
Total Regulatory Liabilities Currently Paying a Return |  | — |  |  | 13.0 |  |  |
Regulatory Liabilities Currently Not Paying a Return |  |  |  |  |  |
Other Regulatory Liabilities Pending Final Regulatory Determination |  | — |  |  | 1.5 |  |  |
Total Regulatory Liabilities Currently Not Paying a Return |  | — |  |  | 1.5 |  |  |
Total Regulatory Liabilities Pending Final Regulatory Determination |  | — |  |  | 14.5 |  |  |
Regulatory liabilities approved for payment: |  |  |  |  |  |
Regulatory Liabilities Currently Paying a Return |  |  |  |  |  |
Asset Removal Costs |  | 844.0 |  |  | 797.1 |  |  | (b)
Income Taxes, Net (a) |  | 409.4 |  |  | 412.0 |  |  | (c)
Other Regulatory Liabilities Approved for Payment |  | 4.8 |  |  | 3.8 |  |  | various
Total Regulatory Liabilities Currently Paying a Return |  | 1,258.2 |  |  | 1,212.9 |  |  |
Regulatory Liabilities Currently Not Paying a Return |  |  |  |  |  |
Transition and Restoration Charges |  | 21.6 |  |  | 26.6 |  |  | 5 years
Other Regulatory Liabilities Approved for Payment |  | 5.6 |  |  | 7.4 |  |  | various
Total Regulatory Liabilities Currently Not Paying a Return |  | 27.2 |  |  | 34.0 |  |  |
Total Regulatory Liabilities Approved for Payment |  | 1,285.4 |  |  | 1,246.9 |  |  |
Total Noncurrent Regulatory Liabilities and Deferred Investment Tax Credits |  | $ | 1,285.4 |  |  | $ | 1,261.4 |  |  |
(a)Predominately pays a return due to the inclusion of Excess ADIT in rate base. (b)Relieved as removal costs are incurred. (c)Refunded over the period for which the related deferred income tax reverse, which is generally based on the expected life for the underlying assets. Excess ADIT Associated with Certain Depreciable Property is refunded over the remaining depreciable life of the underlying assets. Excess ADIT that is Not Subject to Rate Normalization Requirements was $22 million for the year ended December 31, 2024. The remaining balance of Excess ADIT that is Not Subject to Rate Normalization Requirements as of December 31, 2024 is to be refunded over 5 years.
|  | AEPTCo
|  | December 31, |  | Remaining Refund Period
Regulatory Liabilities: |  | 2024 |  | 2023 |
|  | (in millions) |  |
Noncurrent Regulatory Liabilities |  |  |  |  |  |
Regulatory liabilities pending final regulatory determination: |  |  |  |  |  |
Regulatory Liabilities Currently Paying a Return |  |  |  |  |  |
Income Taxes, Net (a) |  | $ | 8.8 |  |  | $ | 8.7 |  |  |
Total Regulatory Liabilities Pending Final Regulatory Determination |  | 8.8 |  |  | 8.7 |  |  |
Regulatory liabilities approved for payment: |  |  |  |  |  |
Regulatory Liabilities Currently Paying a Return |  |  |  |  |  |
Asset Removal Costs |  | 582.3 |  |  | 466.3 |  |  | (b)
Income Taxes, Net (a) |  | 287.3 |  |  | 308.7 |  |  | (c)
Total Regulatory Liabilities Approved for Payment |  | 869.6 |  |  | 775.0 |  |  |
Total Noncurrent Regulatory Liabilities |  | $ | 878.4 |  |  | $ | 783.7 |  |  |
(a)Predominately pays a return due to the inclusion of Excess ADIT in rate base. (b)Relieved as removal costs are incurred. (c)Refunded over the period for which the related deferred income tax reverse, which is generally based on the expected life for the underlying assets. Excess ADIT Associated with Certain Depreciable Property is refunded over the remaining depreciable life of the underlying assets. Excess ADIT that is Not Subject to Rate Normalization Requirements were $9 million and $13 million for the years ended December 31, 2024 and 2023, respectively. The remaining balance of Excess ADIT that is Not Subject to Rate Normalization Requirements as of December 31, 2024 is to be refunded over 4 years.
|  | APCo
|  | December 31, |  | Remaining Refund Period
Regulatory Liabilities: |  | 2024 |  | 2023 |
|  | (in millions) |  |
Current Regulatory Liabilities |  |  |  |  |  |
Over-recovered Fuel Costs, West Virginia - does not pay a return |  | $ | 21.6 |  |  | $ | — |  |  | 1 year
Total Current Regulatory Liabilities |  | $ | 21.6 |  |  | $ | — |  |  |
Noncurrent Regulatory Liabilities and Deferred Investment Tax Credits |  |  |  |  |  |
Regulatory liabilities pending final regulatory determination: |  |  |  |  |  |
Regulatory Liabilities Currently Paying a Return |  |  |  |  |  |
Income Taxes, Net (a) |  | $ | (6.3) |  |  | $ | 7.9 |  |  |
Total Regulatory Liabilities Currently Paying a Return |  | (6.3) |  |  | 7.9 |  |  |
Regulatory Liabilities Currently Not Paying a Return |  |  |  |  |  |
FERC 2021 Transmission Formula Rate Challenge Refunds |  | 24.9 |  |  | 19.7 |  |  |
Total Regulatory Liabilities Currently Not Paying a Return |  | 24.9 |  |  | 19.7 |  |  |
Total Regulatory Liabilities Pending Final Regulatory Determination |  | 18.6 |  |  | 27.6 |  |  |
Regulatory liabilities approved for payment: |  |  |  |  |  |
Regulatory Liabilities Currently Paying a Return |  |  |  |  |  |
Asset Removal Costs |  | 805.6 |  |  | 759.6 |  |  | (b)
Income Taxes, Net (a) |  | 219.3 |  |  | 240.1 |  |  | (c)
Deferred Investment Tax Credits |  | — |  |  | 0.3 |  |  |
Total Regulatory Liabilities Currently Paying a Return |  | 1,024.9 |  |  | 1,000.0 |  |  |
Regulatory Liabilities Currently Not Paying a Return |  |  |  |  |  |
2017-2019 Virginia Triennial Revenue Provision |  | 35.2 |  |  | 37.1 |  |  | 25 years
Virginia Transmission Rate Adjustment Clause |  | 10.2 |  |  | 1.5 |  |  | 2 years
Energy Efficiency Rate Adjustment Clause - Virginia |  | 10.0 |  |  | 3.2 |  |  | 2 years
Other Regulatory Liabilities Approved for Payment |  | 16.9 |  |  | 12.5 |  |  | various
Total Regulatory Liabilities Currently Not Paying a Return |  | 72.3 |  |  | 54.3 |  |  |
Total Regulatory Liabilities Approved for Payment |  | 1,097.2 |  |  | 1,054.3 |  |  |
Total Noncurrent Regulatory Liabilities and Deferred Investment Tax Credits |  | $ | 1,115.8 |  |  | $ | 1,081.9 |  |  |
(a)Predominately pays a return due to the inclusion of Excess ADIT in rate base. (b)Relieved as removal costs are incurred. (c)Refunded over the period for which the related deferred income tax reverse, which is generally based on the expected life for the underlying assets. Excess ADIT Associated with Certain Depreciable Property is refunded over the remaining depreciable life of the underlying assets. Excess ADIT that is Not Subject to Rate Normalization Requirements were $12 million and $35 million for the years ended December 31, 2024 and 2023, respectively. The remaining balance of Excess ADIT that is Not Subject to Rate Normalization Requirements as of December 31, 2024 is to be refunded over 4 years.
|  | I&M
|  | December 31, |  | Remaining Refund Period
Regulatory Liabilities: |  | 2024 |  | 2023 |
|  | (in millions) |  |
Current Regulatory Liabilities |  |  |  |  |  |
Over-recovered Fuel Costs, Indiana - does not pay a return |  | $ | 10.3 |  |  | $ | 23.2 |  |  | 1 year
Total Current Regulatory Liabilities |  | $ | 10.3 |  |  | $ | 23.2 |  |  |
Noncurrent Regulatory Liabilities and Deferred Investment Tax Credits |  |  |  |  |  |
Regulatory liabilities pending final regulatory determination: |  |  |  |  |  |
Regulatory Liabilities Currently Paying a Return |  |  |  |  |  |
Income Taxes, Net (a) (b) |  | $ | — |  |  | $ | (103.0) |  |  |
Total Regulatory Liabilities Currently Paying a Return |  | — |  |  | (103.0) |  |  |
Regulatory Liabilities Currently Not Paying a Return |  |  |  |  |  |
FERC 2021 Transmission Formula Rate Challenge Refunds |  | 28.9 |  |  | 22.8 |  |  |
Cook Plant PTC Deferral - Michigan |  | 14.5 |  |  | — |  |  |
Total Regulatory Liabilities Currently Not Paying a Return |  | 43.4 |  |  | 22.8 |  |  |
Total Regulatory Liabilities Pending Final Regulatory Determination |  | 43.4 |  |  | (80.2) |  |  |
Regulatory liabilities approved for payment: |  |  |  |  |  |
Regulatory Liabilities Currently Paying a Return |  |  |  |  |  |
Asset Removal Costs |  | 174.2 |  |  | 168.1 |  |  | (c)
Renewable Energy Surcharge - Michigan |  | 24.3 |  |  | 26.6 |  |  | 2 years
Income Taxes, Net (a) |  | — |  |  | 116.8 |  |  | (d)
Other Regulatory Liabilities Approved for Payment |  | 0.1 |  |  | 0.1 |  |  | various
Total Regulatory Liabilities Currently Paying a Return |  | 198.6 |  |  | 311.6 |  |  |
Regulatory Liabilities Currently Not Paying a Return |  |  |  |  |  |
Excess Nuclear Decommissioning Funding |  | 2,137.3 |  |  | 1,721.9 |  |  | (e)
Spent Nuclear Fuel |  | 50.4 |  |  | 47.6 |  |  | (e)
Demand Side Management - Indiana |  | 33.0 |  |  | 16.7 |  |  | 2 years
Deferred Investment Tax Credits |  | 13.8 |  |  | 15.8 |  |  | 26 years
PJM Costs and Off-system Sales Margin Sharing - Indiana |  | 2.0 |  |  | 14.1 |  |  | 1 year
Other Regulatory Liabilities Approved for Payment |  | 2.3 |  |  | 4.8 |  |  | various
Total Regulatory Liabilities Currently Not Paying a Return |  | 2,238.8 |  |  | 1,820.9 |  |  |
Total Regulatory Liabilities Approved for Payment |  | 2,437.4 |  |  | 2,132.5 |  |  |
Total Noncurrent Regulatory Liabilities and Deferred Investment Tax Credits |  | $ | 2,480.8 |  |  | $ | 2,052.3 |  |  |
(a)Predominately pays a return due to the inclusion of Excess ADIT in rate base. (b)Represents an income tax related regulatory asset, which is presented within net regulatory liabilities on the balance sheet. (c)Relieved as removal costs are incurred. (d)Refunded over the period for which the related deferred income tax reverse, which is generally based on the expected life for the underlying assets. Excess ADIT Associated with Certain Depreciable Property is refunded over the remaining depreciable life of the underlying assets. Excess ADIT that is Not Subject to Rate Normalization Requirements was $25 million for the year ended December 31, 2023. (e)Relieved when plant is decommissioned.
|  | OPCo
|  | December 31, |  | Remaining Refund Period
|  | 2024 |  | 2023 |
Regulatory Liabilities: |  | (in millions) |  |
Noncurrent Regulatory Liabilities |  |  |  |  |  |
Regulatory liabilities pending final regulatory determination: |  |  |  |  |  |
Regulatory Liabilities Currently Not Paying a Return |  |  |  |  |  |
FERC 2021 Transmission Formula Rate Challenge Refunds |  | $ | 72.7 |  |  | $ | 57.0 |  |  |
Other Regulatory Liabilities Pending Final Regulatory Determination |  | 0.2 |  |  | 0.2 |  |  |
Total Regulatory Liabilities Pending Final Regulatory Determination |  | 72.9 |  |  | 57.2 |  |  |
Regulatory liabilities approved for payment: |  |  |  |  |  |
Regulatory Liabilities Currently Paying a Return |  |  |  |  |  |
Asset Removal Costs |  | 480.0 |  |  | 475.5 |  |  | (a)
Income Taxes, Net (b) |  | 367.6 |  |  | 408.2 |  |  | (c)
Other Regulatory Liabilities Approved for Payment |  | 4.0 |  |  | — |  |  |
Total Regulatory Liabilities Currently Paying a Return |  | 851.6 |  |  | 883.7 |  |  |
Regulatory Liabilities Currently Not Paying a Return |  |  |  |  |  |
Over-recovered Fuel Costs |  | 32.1 |  |  | 26.1 |  |  | 8 years
Peak Demand Reduction/Energy Efficiency |  | 22.8 |  |  | 23.2 |  |  | 2 years
Other Regulatory Liabilities Approved for Payment |  | 8.3 |  |  | 13.4 |  |  | various
Total Regulatory Liabilities Currently Not Paying a Return |  | 63.2 |  |  | 62.7 |  |  |
Total Regulatory Liabilities Approved for Payment |  | 914.8 |  |  | 946.4 |  |  |
Total Noncurrent Regulatory Liabilities |  | $ | 987.7 |  |  | $ | 1,003.6 |  |  |
(a)Relieved as removal costs are incurred. (b)Predominately pays a return due to the inclusion of Excess ADIT in rate base. (c)Refunded over the period for which the related deferred income tax reverse, which is generally based on the expected life for the underlying assets. Excess ADIT Associated with Certain Depreciable Property is refunded over the remaining depreciable life of the underlying assets. Excess ADIT that is Not Subject to Rate Normalization Requirements were $100 million and $132 million for the years ended December 31, 2024 and 2023, respectively. The remaining balance of Excess ADIT that is Not Subject to Rate Normalization Requirements as of December 31, 2024 is to be refunded over 4 years.
|  | PSO
|  | December 31, |  | Remaining Refund Period
|  | 2024 |  | 2023 |
Regulatory Liabilities: |  | (in millions) |  |
Noncurrent Regulatory Liabilities and Deferred Investment Tax Credits |  |  |  |  |  |
Regulatory liabilities pending final regulatory determination: |  |  |  |  |  |
Regulatory Liabilities Currently Not Paying a Return |  |  |  |  |  |
FERC 2021 Transmission Formula Rate Challenge Refunds |  | $ | 1.6 |  |  | $ | 1.2 |  |  |
Total Regulatory Liabilities Pending Final Regulatory Determination |  | 1.6 |  |  | 1.2 |  |  |
Regulatory liabilities approved for payment: |  |  |  |  |  |
Regulatory Liabilities Currently Paying a Return |  |  |  |  |  |
Asset Removal Costs |  | 323.6 |  |  | 317.5 |  |  | (b)
Income Taxes, Net (a) |  | 318.0 |  |  | 395.7 |  |  | (c)
Total Regulatory Liabilities Currently Paying a Return |  | 641.6 |  |  | 713.2 |  |  |
Regulatory Liabilities Currently Not Paying a Return |  |  |  |  |  |
Deferred Investment Tax Credits |  | 46.2 |  |  | 47.2 |  |  | 12 years
Other Regulatory Liabilities Approved for Payment |  | 0.3 |  |  | 4.0 |  |  | various
Total Regulatory Liabilities Currently Not Paying a Return |  | 46.5 |  |  | 51.2 |  |  |
Total Regulatory Liabilities Approved for Payment |  | 688.1 |  |  | 764.4 |  |  |
Total Noncurrent Regulatory Liabilities and Deferred Investment Tax Credits |  | $ | 689.7 |  |  | $ | 765.6 |  |  |
(a)Predominately pays a return due to the inclusion of Excess ADIT in rate base. (b)Relieved as removal costs are incurred. (c)Refunded over the period for which the related deferred income tax reverse, which is generally based on the expected life for the underlying assets. Excess ADIT Associated with Certain Depreciable Property is refunded over the remaining depreciable life of the underlying assets. Excess ADIT that is Not Subject to Rate Normalization Requirements were $46 million and $51 million for the years ended December 31, 2024 and 2023, respectively. The remaining balance of Excess ADIT that is Not Subject to Rate Normalization Requirements as of December 31, 2024 is to be refunded over 10 year.
|  | SWEPCo
|  | December 31, |  | Remaining Refund Period
|  | 2024 |  | 2023 |
Regulatory Liabilities: |  | (in millions) |  |
Current Regulatory Liabilities |  |  |  |  |  |
Over-recovered Fuel Costs - pays a return (a) |  | $ | 21.6 |  |  | $ | 3.3 |  |  | 1 year
Total Current Regulatory Liabilities |  | $ | 21.6 |  |  | $ | 3.3 |  |  |
Noncurrent Regulatory Liabilities and Deferred Investment Tax Credits |  |  |  |  |  |
Regulatory liabilities pending final regulatory determination: |  |  |  |  |  |
Regulatory Liabilities Currently Paying a Return |  |  |  |  |  |
Income Taxes, Net (b) |  | $ | 7.0 |  |  | $ | 7.0 |  |  |
Total Regulatory Liabilities Pending Final Regulatory Determination |  | 7.0 |  |  | 7.0 |  |  |
Regulatory liabilities approved for payment: |  |  |  |  |  |
Regulatory Liabilities Currently Paying a Return |  |  |  |  |  |
Asset Removal Costs |  | 456.6 |  |  | 443.2 |  |  | (c)
Income Taxes, Net (b) |  | 127.5 |  |  | 292.4 |  |  | (d)
Other Regulatory Liabilities Approved for Payment |  | 7.3 |  |  | 4.4 |  |  | various
Total Regulatory Liabilities Currently Paying a Return |  | 591.4 |  |  | 740.0 |  |  |
Regulatory Liabilities Currently Not Paying a Return |  |  |  |  |  |
Other Regulatory Liabilities Approved for Payment |  | 12.4 |  |  | 9.1 |  |  | various
Total Regulatory Liabilities Currently Not Paying a Return |  | 12.4 |  |  | 9.1 |  |  |
Total Regulatory Liabilities Approved for Payment |  | 603.8 |  |  | 749.1 |  |  |
Total Noncurrent Regulatory Liabilities and Deferred Investment Tax Credits |  | $ | 610.8 |  |  | $ | 756.1 |  |  |
(a)2024 amount related to Texas jurisdiction. 2023 amount related to Louisiana jurisdiction. (b)Predominately pays a return due to the inclusion of Excess ADIT in rate base. (c)Relieved as removal costs are incurred. (d)Refunded over the period for which the related deferred income tax reverse, which is generally based on the expected life for the underlying assets. Excess ADIT Associated with Certain Depreciable Property is refunded over the remaining depreciable life of the underlying assets.

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- Definition Schedule of Regulatory Assets, Early Retirement + References No definition available. + Details
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Namespace Prefix: | aep_
Data Type: | dtr-types1:textBlockItemType
Balance Type: | na
Period Type: | duration

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- References No definition available. + Details
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- Definition Tabular disclosure of assets that are created when regulatory agencies permit public utilities to defer certain costs included in rate-setting to the balance sheet. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 980 -SubTopic 340 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Publisher FASB -URI https://asc.fasb.org/1943274/2147478742/980-340-50-1 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 980 -SubTopic 715 -Section 50 -Paragraph 1 -Publisher FASB -URI https://asc.fasb.org/1943274/2147478574/980-715-50-1 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 980 -SubTopic 340 -Section 50 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org/1943274/2147478742/980-340-50-2 + Details
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- Definition Tabular disclosure of regulatory liabilities. Detailed information about liabilities that result from rate actions of a regulator. Rate actions of a regulator can impose a liability on a regulated enterprise resulting in a regulatory liability. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 980 -SubTopic 405 -Name Accounting Standards Codification -Section 25 -Paragraph 1 -Publisher FASB -URI https://asc.fasb.org/1943274/2147477571/980-405-25-1 + Details
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