Effects of Regulation
|
12 Months Ended |
Dec. 31, 2016 |
Effects of Regulation |
EFFECTS OF REGULATION
The disclosures in this note apply to all Registrants unless indicated otherwise.
Regulatory Assets and Liabilities
Regulatory assets and liabilities are comprised of the following items: | | | | | | | | | | | | | | AEP | | | December 31, | | Remaining Recovery Period | | | 2016 | | 2015 | | Current Regulatory Assets | | (in millions) | | | Under-recovered Fuel Costs - earns a return | | $ | 61.4 |
| | $ | 38.9 |
| | 1 year | Under-recovered Fuel Costs - does not earn a return | | 95.2 |
| | 76.3 |
| | 1 year | Total Current Regulatory Assets | | $ | 156.6 |
| | $ | 115.2 |
| | | | | | | | | | Noncurrent Regulatory Assets | | | | | | | Regulatory assets pending final regulatory approval: | | | | | | | | | | | | | | Regulatory Assets Currently Earning a Return | | | | | | | Plant Retirement Costs - Unrecovered Plant | | $ | 159.9 |
| | $ | — |
| | | Ohio Capacity Deferral | | 96.7 |
| | — |
| | | Storm Related Costs | | 25.1 |
| | 24.2 |
| | | Plant Retirement Costs - Materials and Supplies | | 9.1 |
| | 20.9 |
| | | Other Regulatory Assets Pending Final Regulatory Approval | | 1.3 |
| | — |
| | | Regulatory Assets Currently Not Earning a Return | | | | | | | Cook Plant Uprate Project | | 36.3 |
| | — |
| | | Plant Retirement Costs - Asset Retirement Obligation Costs | | 29.6 |
| | 59.8 |
| | | Storm Related Costs | | 25.9 |
| | 18.2 |
| | | Environmental Control Projects | | 24.1 |
| | — |
| | | Cook Plant Turbine | | 12.8 |
| | 9.7 |
| | | Peak Demand Reduction/Energy Efficiency | | 0.2 |
| | 13.1 |
| | | Other Regulatory Assets Pending Final Regulatory Approval | | 29.1 |
| | 22.0 |
| | | Total Regulatory Assets Pending Final Regulatory Approval (b) | | 450.1 |
| | 167.9 |
| | | | | | | | | | Regulatory assets approved for recovery: | | | | | | | | | | | | | | Regulatory Assets Currently Earning a Return | | | | | | | Plant Retirement Costs - Unrecovered Plant | | 550.6 |
| | 539.3 |
| | 28 years | Ohio Phase-In Recovery Rider | | 218.9 |
| | 304.5 |
| | 2 years | Ohio Capacity Deferral | | 201.9 |
| | 358.7 |
| | 2 years | Meter Replacement Costs | | 99.9 |
| | 90.4 |
| | 11 years | Ohio Distribution Decoupling | | 41.8 |
| | 37.5 |
| | 2 years | Advanced Metering System | | 20.9 |
| | 3.6 |
| | 4 years | Basic Transmission Cost Rider | | 19.9 |
| | — |
| | 2 years | West Virginia Delayed Customer Billing | | 19.5 |
| | — |
| | 2 years | Asset Removal Costs | | 18.7 |
| | 38.1 |
| | (a) | Mitchell Plant Transfer | | 18.5 |
| | 19.3 |
| | 24 years | Plant Retirement Costs - Asset Retirement Obligation Costs | | 18.3 |
| | 7.6 |
| | 24 years | Storm Related Costs | | 15.3 |
| | 8.8 |
| | 3 years | Red Rock Generating Facility | | 9.1 |
| | 9.3 |
| | 40 years | Ohio Transmission Cost Recovery Rider | | — |
| | 12.3 |
| |
| Other Regulatory Assets Approved for Recovery | | 27.6 |
| | 25.5 |
| | various | Regulatory Assets Currently Not Earning a Return | | | | | | | Income Taxes, Net (c) | | 1,575.0 |
| | 1,385.3 |
| | 62 years | Pension and OPEB Funded Status | | 1,516.2 |
| | 1,410.5 |
| | 12 years | Unamortized Loss on Reacquired Debt | | 137.8 |
| | 148.7 |
| | 29 years | Unrealized Loss on Forward Commitments | | 119.1 |
| | 10.7 |
| | 16 years | Cook Plant Nuclear Refueling Outage Levelization | | 75.2 |
| | 26.8 |
| | 3 years | Storm Related Costs | | 58.7 |
| | 94.6 |
| | 4 years | Peak Demand Reduction/Energy Efficiency | | 49.9 |
| | 33.3 |
| | 5 years | Plant Retirement Costs - Asset Retirement Obligation Costs | | 48.9 |
| | 58.0 |
| | 24 years | Postemployment Benefits | | 39.1 |
| | 42.6 |
| | 5 years | Virginia Transmission Rate Adjustment Clause | | 38.7 |
| | 74.6 |
| | 2 years | Medicare Subsidy | | 37.2 |
| | 41.8 |
| | 8 years | Vegetation Management | | 31.4 |
| | 36.9 |
| | 5 years | Off-system Sales Margin Sharing - Indiana | | 24.3 |
| | 6.8 |
| | 2 years | OVEC Purchased Power | | 22.1 |
| | — |
| | 2 years |
| | | | | | | | | | | | United Mine Workers of America Pension Withdrawal | | 20.2 |
| | 14.4 |
| | 6 years | Deferred System Reliability Rider Expenses | | 12.5 |
| | 9.9 |
| | 1 year | SPP Base Plan Fees | | 10.7 |
| | — |
| | 2 years | Carbon Capture and Storage Product Validation Facility | | 9.1 |
| | 11.7 |
| | 4 years | IGCC Pre-Construction Costs | | 8.6 |
| | 10.9 |
| | 24 years | Transmission Cost Recovery Factor | | 5.3 |
| | 9.9 |
| | 1 year | Distribution Investment Rider | | 2.0 |
| | 12.3 |
| | 2 years | Other Regulatory Assets Approved for Recovery | | 52.5 |
| | 77.8 |
| | various | Total Regulatory Assets Approved for Recovery | | 5,175.4 |
| | 4,972.4 |
| | | | | | | | | | Total Noncurrent Regulatory Assets | | $ | 5,625.5 |
| | $ | 5,140.3 |
| | |
| | (a) | As a regulated entity, removal costs accrued are typically recorded as regulatory liabilities when removal costs accrued exceed actual removal costs incurred. The asset removal costs liability is relieved as removal costs are incurred. As of December 31, 2016, KPCo’s accumulated actual removal cost incurred exceeded accumulated removal cost accrued, creating an asset balance. As a result, the balance was reclassified to a regulatory asset. Within the next two years, KPCo’s removal costs accrued are expected to exceed removal costs incurred resulting in a regulatory liability. |
| | (b) | As of December 31, 2016, APCo has deferred a total of $91 million as charges to accumulated depreciation related to certain plant retirements in 2015. APCo intends to address the need for depreciation rate increases in a subsequent base rate cases. |
| | (c) | Includes $320 million and $288 million as of December 31, 2016 and 2015, respectively, expected to be recovered in formula rates. |
| | | | | | | | | | | | | | AEP | | | December 31, | | Remaining | | | 2016 | | 2015 | | Refund Period | Current Regulatory Liabilities | | (in millions) | | | Over-recovered Fuel Costs - pays a return | | $ | 3.8 |
| | $ | 84.8 |
| | 1 year | Over-recovered Fuel Costs - does not pay a return | | 4.2 |
| | 29.1 |
| | 1 year | Total Current Regulatory Liabilities | | $ | 8.0 |
| | $ | 113.9 |
| | | | | | | | | | Noncurrent Regulatory Liabilities and Deferred Investment Tax Credits | | | | | | | Regulatory liabilities pending final regulatory determination: | | | | | | | | | | | | | | Regulatory Liabilities Currently Not Paying a Return | | | | | | | Provision for Regulatory Loss | | $ | — |
| | $ | 40.6 |
| | | Other Regulatory Liabilities Pending Final Regulatory Determination | | 0.8 |
| | 0.2 |
| | | Total Regulatory Liabilities Pending Final Regulatory Determination | | 0.8 |
| | 40.8 |
| | | | | | | | | | Regulatory liabilities approved for payment: | | | | | | | | | | | | | | Regulatory Liabilities Currently Paying a Return | | | | | | | Asset Removal Costs (a) | | 2,627.5 |
| | 2,656.5 |
| | (b) | Advanced Metering Infrastructure Surcharge | | 17.0 |
| | 21.2 |
| | 4 years | Louisiana Refundable Construction Financing Costs | | 16.2 |
| | 37.4 |
| | 2 years | Deferred Investment Tax Credits | | 12.6 |
| | 14.7 |
| | 42 years | Excess Earnings | | 10.0 |
| | 10.6 |
| | 37 years | Other Regulatory Liabilities Approved for Payment | | 1.6 |
| | 20.5 |
| | various | Regulatory Liabilities Currently Not Paying a Return | | | | | | | Excess Nuclear Decommissioning Funding | | 731.2 |
| | 636.5 |
| | (c) | Deferred Investment Tax Credits | | 132.9 |
| | 113.3 |
| | 46 years | Spent Nuclear Fuel | | 44.2 |
| | 43.4 |
| | (c) | Transition Charges | | 40.5 |
| | 46.5 |
| | 11 years | Peak Demand Reduction/Energy Efficiency | | 34.0 |
| | 5.3 |
| | 2 years | Enhanced Service Reliability Plan | | 21.7 |
| | 8.0 |
| | 2 years | gridSMART® Costs | | 11.9 |
| | — |
| | 2 years | Advanced Metering Costs | | 11.5 |
| | 11.4 |
| | 1 year | Unrealized Gain on Forward Commitments | | 6.2 |
| | 33.8 |
| | 2 years | Deferred Wind Power Costs | | 2.1 |
| | 11.8 |
| | 1 year | Other Regulatory Liabilities Approved for Payment | | 29.4 |
| | 24.4 |
| | various | Total Regulatory Liabilities Approved for Payment | | 3,750.5 |
| | 3,695.3 |
| | | | | | | | | | Total Noncurrent Regulatory Liabilities and Deferred Investment Tax Credits | | $ | 3,751.3 |
| | $ | 3,736.1 |
| | |
| | (a) | As of December 31, 2016, I&M also charged $43 million to asset removal costs related to various Tanners Creek Plant related assets, primarily related to the net book value of ARO assets. The Indiana and Michigan retail jurisdictions of I&M have increased depreciation rates on Rockport Plant to recover the net book value of Tanners Creek Plant that was retired in 2015. I&M intends to address the need for increases in depreciation rates to recover the deferral in its next Indiana and Michigan base rate cases. |
| | (b) | Relieved as removal costs are incurred. |
| | (c) | Relieved when plant is decommissioned. |
| | | | | | | | | | | | | | APCo | | | December 31, | | Remaining Recovery Period | Regulatory Assets: | | 2016 | | 2015 | | | | (in millions) | | | Current Regulatory Assets | | | | | | | Under-recovered Fuel Costs - earns a return | | $ | 6.2 |
| | $ | 27.3 |
| | 1 year | Under-recovered Fuel Costs - does not earn a return | | 62.2 |
| | 59.6 |
| | 1 year | Total Current Regulatory Assets | | $ | 68.4 |
| | $ | 86.9 |
| | | | | | | | | | Noncurrent Regulatory Assets | | | | | | | Regulatory assets pending final regulatory approval: | | | | | | | | | | | | | | Regulatory Assets Currently Earning a Return | | | | | | | Plant Retirement Costs - Materials and Supplies | | $ | 9.1 |
| | $ | 9.3 |
| | | Regulatory Assets Currently Not Earning a Return | | | | | | | Plant Retirement Costs - Asset Retirement Obligation Costs | | 29.6 |
| | 32.7 |
| | | Peak Demand Reduction/Energy Efficiency - Virginia | | — |
| | 12.7 |
| | | Amos Plant Transfer Costs - West Virginia | | — |
| | 2.0 |
| | | Other Regulatory Assets Pending Final Regulatory Approval | | 0.6 |
| | 0.6 |
| | | Total Regulatory Assets Pending Final Regulatory Approval (a) | | 39.3 |
| | 57.3 |
| | | | | | | | | | Regulatory assets approved for recovery: | | | | | | | | | | | | | | Regulatory Assets Currently Earning a Return | | | | | | | Plant Retirement Costs - Unrecovered Plant - West Virginia | | 85.4 |
| | 86.5 |
| | 27 years | West Virginia Delayed Customer Billing | | 18.1 |
| | — |
| | 2 years | Storm Related Costs - Virginia | | 4.6 |
| | 8.8 |
| | 2 years | RTO Formation/Integration Costs | | 1.6 |
| | 2.1 |
| | 3 years | Other Regulatory Assets Approved for Recovery | | 0.6 |
| | — |
| | various | Regulatory Assets Currently Not Earning a Return | | | | | | | Income Taxes, Net (b) | | 463.5 |
| | 441.7 |
| | 26 years | Pension and OPEB Funded Status | | 221.4 |
| | 217.6 |
| | 12 years | Unamortized Loss on Reacquired Debt | | 97.2 |
| | 101.5 |
| | 29 years | Storm Related Costs - West Virginia | | 47.8 |
| | 63.5 |
| | 4 years | Virginia Transmission Rate Adjustment Clause | | 38.7 |
| | 74.6 |
| | 2 years | Vegetation Management Program - West Virginia | | 31.4 |
| | 31.2 |
| | 5 years | Peak Demand Reduction/Energy Efficiency | | 19.2 |
| | 3.5 |
| | 4 years | Postemployment Benefits | | 17.4 |
| | 19.6 |
| | 5 years | Carbon Capture and Storage Product Validation Facility - West Virginia, FERC | | 9.1 |
| | 11.7 |
| | 4 years | IGCC Pre-Construction Costs - West Virginia, FERC | | 7.4 |
| | 9.6 |
| | 4 years | Virginia Generation Rate Adjustment Clause | | 6.5 |
| | 5.2 |
| | 2 years | Medicare Subsidy - West Virginia, FERC | | 4.7 |
| | 5.3 |
| | 8 years | Uncollected Accounts - West Virginia | | 2.7 |
| | 3.5 |
| | 4 years | Deferred Restructuring Costs - West Virginia | | 2.5 |
| | 4.5 |
| | 2 years | Carbon Capture and Storage Commercial Scale Facility - West Virginia, FERC | | 1.0 |
| | 1.2 |
| | 6 years | Asset Retirement Obligation | | 0.6 |
| | 2.4 |
| | 1 year | Transmission Agreement Phase-In - West Virginia | | — |
| | 1.7 |
| |
| Other Regulatory Assets Approved for Recovery | | 0.4 |
| | 1.2 |
| | various | Total Regulatory Assets Approved for Recovery | | 1,081.8 |
| | 1,096.9 |
| | | | | | | | | | Total Noncurrent Regulatory Assets | | $ | 1,121.1 |
| | $ | 1,154.2 |
| | |
| | (a) | As of December 31, 2016, APCo has also deferred $91 million as a charge to accumulated depreciation related to the net book value of certain plants retired in 2015, primarily in its Virginia jurisdiction. These plants were normal retirements and not abandonments. APCo intends to address the need for an increase in its Virginia depreciation rates in March 2020, as part of its 2018-2019 Virginia biennial filing. |
| | (b) | Includes $64 million and $59 million as of December 31, 2016 and 2015, respectively, expected to be recovered in formula rates. |
| | | | | | | | | | | | | | APCo | | | December 31, | | Remaining Refund Period | Regulatory Liabilities: | | 2016 | | 2015 | | | | (in millions) | | | Noncurrent Regulatory Liabilities and Deferred Investment Tax Credits | | | | | | | Regulatory liabilities approved for payment: | | | | | | | | | | | | | | Regulatory Liabilities Currently Paying a Return | | | | | | | Asset Removal Costs | | $ | 616.9 |
| | $ | 612.9 |
| | (a) | Deferred Investment Tax Credits | | 0.9 |
| | 1.0 |
| | 42 years | Regulatory Liabilities Currently Not Paying a Return | | | | | | | Consumer Rate Relief - West Virginia | | 5.1 |
| | 2.9 |
| | 1 year | Deferred Wind Power Costs - Virginia | | 2.1 |
| | 11.8 |
| | 1 year | Energy Efficiency Rate Adjustment Clause - Virginia | | 1.5 |
| | — |
| | 2 years | Unrealized Gain on Forward Commitments | | 1.3 |
| | 8.4 |
| | 2 years | Other Regulatory Liabilities Approved for Payment | | — |
| | 0.1 |
| | various | Total Regulatory Liabilities Approved for Payment | | 627.8 |
| | 637.1 |
| | | | | | | | | | Total Noncurrent Regulatory Liabilities and Deferred Investment Tax Credits | | $ | 627.8 |
| | $ | 637.1 |
| | |
| | (a) | Relieved as removal costs are incurred. |
| | | | | | | | | | | | | | I&M | | | December 31, | | Remaining Recovery Period | Regulatory Assets: | | 2016 | | 2015 | | | | (in millions) | | | Current Regulatory Assets | | | | | | | Under-recovered Fuel Costs - earns a return | | $ | 13.0 |
| | $ | 7.5 |
| | 1 year | Under-recovered Fuel Costs - does not earn a return | | 13.1 |
| | 4.1 |
| | 1 year | Total Current Regulatory Assets | | $ | 26.1 |
| | $ | 11.6 |
| | | | | | | | | | Noncurrent Regulatory Assets | | | | | | | Regulatory assets pending final regulatory approval: | | | | | | | | | | | | | | Regulatory Assets Currently Earning a Return | | | | | | | Plant Retirement Costs - Materials and Supplies | | $ | — |
| | $ | 11.6 |
| | | Regulatory Assets Currently Not Earning a Return | | | | | | | Cook Uprate Project | | 36.3 |
| | — |
| | | Cook Plant Turbine | | 12.8 |
| | 9.7 |
| | | Deferred Cook Plant Life Cycle Management Project Costs - Michigan | | 8.1 |
| | 4.2 |
| | | Rockport Plant Dry Sorbent Injection System - Indiana | | 6.6 |
| | 2.8 |
| | | Plant Retirement Costs - Asset Retirement Obligation Costs - Indiana | | — |
| | 27.1 |
| | | Stranded Costs on Abandoned Plants | | — |
| | 3.9 |
| | | Other Regulatory Assets Pending Final Regulatory Approval | | 0.9 |
| | — |
| | | Total Regulatory Assets Pending Final Regulatory Approval | | 64.7 |
| | 59.3 |
| | | | | | | | | | Regulatory assets approved for recovery: | | | | | | | | | | | | | | Regulatory Assets Currently Earning a Return | | | | | | | Plant Retirement Costs - Unrecovered Plant | | 252.8 |
| | 260.3 |
| | 28 years | Cook Plant, Unit 2 Baffle Bolts - Indiana | | 6.3 |
| | 6.6 |
| | 22 years | RTO Formation/Integration Costs | | 1.2 |
| | 1.5 |
| | 3 years | Other Regulatory Assets Approved for Recovery | | 1.3 |
| | 1.0 |
| | various | Regulatory Assets Currently Not Earning a Return | | | | | | | Income Taxes, Net (a) | | 302.6 |
| | 246.8 |
| | 32 years | Pension and OPEB Funded Status | | 141.9 |
| | 126.4 |
| | 12 years | Cook Plant Nuclear Refueling Outage Levelization | | 75.2 |
| | 26.8 |
| | 3 years | Off-system Sales Margin Sharing - Indiana | | 24.3 |
| | 6.8 |
| | 2 years | Postemployment Benefits | | 11.4 |
| | 10.7 |
| | 5 years | Unamortized Loss on Reacquired Debt | | 10.7 |
| | 12.0 |
| | 16 years | Medicare Subsidy | | 8.2 |
| | 9.2 |
| | 8 years | Litigation Settlement - Indiana | | 7.6 |
| | 8.6 |
| | 9 years | River Transportation Division Expenses | | 3.7 |
| | — |
| | 1 year | Peak Demand Reduction/Energy Efficiency | | 3.6 |
| | 10.6 |
| | 2 years | Capacity Costs - Indiana | | 0.4 |
| | 7.5 |
| | 1 year | Unrealized Loss on Forward Commitments | | 0.1 |
| | 3.2 |
| | 2 years | PJM Expense - Indiana | | — |
| | 4.1 |
| |
| Storm Related Costs - Indiana | | — |
| | 1.8 |
| |
| Other Regulatory Assets Approved for Recovery | | 0.6 |
| | 1.1 |
| | various | Total Regulatory Assets Approved for Recovery | | 851.9 |
| | 745.0 |
| | | | | | | | | | Total Noncurrent Regulatory Assets | | $ | 916.6 |
| | $ | 804.3 |
| | |
| | (a) | Includes $74 million and $69 million as of December 31, 2016 and 2015, respectively, expected to be recovered in formula rates. |
| | | | | | | | | | | | | | I&M | | | December 31, | | Remaining Refund Period | Regulatory Liabilities: | | 2016 | | 2015 | | | | (in millions) | | | Current Regulatory Liabilities | | | | | | | Over-recovered Fuel Costs - pays a return | | $ | — |
| | $ | 0.3 |
| |
| Total Current Regulatory Liabilities | | $ | — |
| | $ | 0.3 |
| | | | | | | | | | Noncurrent Regulatory Liabilities and Deferred Investment Tax Credits | | | | | | | Regulatory liabilities approved for payment: | | | | | | | | | | | | | | Regulatory Liabilities Currently Paying a Return | | | | | | | Asset Removal Costs (a) | | $ | 236.5 |
| | $ | 350.6 |
| | (b) | Regulatory Liabilities Currently Not Paying a Return | | | | | | | Excess Nuclear Decommissioning Funding | | 731.2 |
| | 636.5 |
| | (c) | Spent Nuclear Fuel | | 44.2 |
| | 43.4 |
| | (c) | Deferred Investment Tax Credits | | 38.8 |
| | 35.0 |
| | 20 years | Deferred Cook Plant Life Cycle Management Project Costs - Indiana | | 4.6 |
| | — |
| | 3 years | PJM Expense - Indiana | | 4.2 |
| | — |
| | 2 years | Unrealized Gain on Forward Commitments | | 2.4 |
| | 7.1 |
| | 2 years | Rockport Plant Dry Sorbent Injection | | 1.7 |
| | 0.4 |
| | 2 years | Storm Related Costs - Indiana | | 1.2 |
| | — |
| | 1 year | River Transportation Division Expenses | | — |
| | 1.9 |
| |
| Other Regulatory Liabilities Approved for Payment | | 0.7 |
| | 1.3 |
| | various | Total Regulatory Liabilities Approved for Payment | | 1,065.5 |
| | 1,076.2 |
| | | | | | | | | | Total Noncurrent Regulatory Liabilities and Deferred Investment Tax Credits | | $ | 1,065.5 |
| | $ | 1,076.2 |
| | |
| | (a) | As of December 31, 2016, I&M has charged $43 million to asset removal costs related to various Tanners Creek Plant related assets, primarily related to the net book value of ARO assets. The Indiana and Michigan retail jurisdictions of I&M have increased depreciation rates on Rockport Plant to recover the net book value of Tanners Creek Plant that was retired in 2015. I&M intends to address the need for increases in depreciation rates to recover the deferral in its next Indiana and Michigan base rate cases. |
| | (b) | Relieved as removal costs are incurred. |
| | (c) | Relieved when plant is decommissioned. |
| | | | | | | | | | | | | | OPCo | | | December 31, | | Remaining Recovery Period | Regulatory Assets: | | 2016 |
| 2015 | | | | (in millions) | | | Noncurrent Regulatory Assets | | | | | | | Regulatory assets pending final regulatory approval: | | | | | | | | | | | | | | Regulatory Assets Currently Earning a Return | | | | | | | Capacity Deferral | | $ | 96.7 |
| | $ | — |
| | | Regulatory Assets Currently Not Earning a Return | | | | | | | gridSMART® Costs | | 4.1 |
| | 1.3 |
| | | Total Regulatory Assets Pending Final Regulatory Approval | | 100.8 |
| | 1.3 |
| | | | | | | | | | Regulatory assets approved for recovery: | | | | | | | | | | | | | | Regulatory Assets Currently Earning a Return | | | | | | | Phase-In Recovery Rider | | 218.9 |
| | 304.5 |
| | 2 years | Capacity Deferral | | 201.9 |
| | 358.7 |
| | 2 years | Distribution Decoupling | | 41.8 |
| | 37.5 |
| | 2 years | Basic Transmission Cost Rider | | 19.9 |
| | — |
| | 2 years | RTO Formation/Integration Costs | | 2.5 |
| | 3.1 |
| | 3 years | Economic Development Rider | | 1.7 |
| | — |
| | 2 years | Transmission Cost Recovery Rider | | — |
| | 12.3 |
| |
| Regulatory Assets Currently Not Earning a Return | | | | | | | Pension and OPEB Funded Status | | 225.2 |
| | 219.4 |
| | 12 years | Income Taxes, Net (a) | | 126.4 |
| | 129.0 |
| | 28 years | Unrealized Loss on Forward Commitments | | 118.6 |
| | — |
| | 16 years | OVEC Purchased Power | | 22.1 |
| | — |
| | 2 years | Unamortized Loss on Reacquired Debt | | 9.1 |
| | 10.4 |
| | 22 years | Medicare Subsidy | | 8.3 |
| | 9.3 |
| | 8 years | Postemployment Benefits | | 6.8 |
| | 7.3 |
| | 5 years | Distribution Investment Rider | | 2.0 |
| | 12.3 |
| | 2 years | Partnership with Ohio Contribution | | 1.4 |
| | 2.4 |
| | 2 years | gridSMART® Costs | | — |
| | 4.5 |
| |
| Other Regulatory Assets Approved for Recovery | | 0.1 |
| | 1.0 |
| | various | Total Regulatory Assets Approved for Recovery | | 1,006.7 |
| | 1,111.7 |
| | | | | | | | | | Total Noncurrent Regulatory Assets | | $ | 1,107.5 |
| | $ | 1,113.0 |
| | |
| | (a) | Includes $76 million and $82 million as of December 31, 2016 and 2015, respectively, expected to be recovered in formula rates. |
| | | | | | | | | | | | | | OPCo | | | December 31, | | Remaining Refund Period | | | 2016 | | 2015 | | Regulatory Liabilities: | | (in millions) | | | | | | | | | | Current Regulatory Liabilities | | | | | | | Over-recovered Fuel Costs - does not pay a return | | $ | 4.2 |
| | $ | 27.6 |
| | 1 year | Total Current Regulatory Liabilities | | $ | 4.2 |
| | $ | 27.6 |
| | | | | | | | | | Noncurrent Regulatory Liabilities and Deferred Investment Tax Credits | | | | | | | Regulatory liabilities pending final regulatory determination: | | | | | | | | | | | | | | Regulatory Liabilities Currently Not Paying a Return | | | | | | | Provision for Regulatory Loss | | $ | — |
| | $ | 40.6 |
| | | Other Regulatory Liabilities Pending Final Regulatory Determination | | 0.2 |
| | 0.2 |
| | | Total Regulatory Liabilities Pending Final Regulatory Determination | | 0.2 |
| | 40.8 |
| | | | | | | | | | Regulatory liabilities approved for payment: | | | | | | | | | | | | | | Regulatory Liabilities Currently Paying a Return | | | | | | | Asset Removal Costs | | 432.4 |
| | 422.3 |
| | (a) | Basic Transmission Cost Rider | | 0.3 |
| | 4.9 |
| | 2 years | Economic Development Rider | | — |
| | 5.0 |
| |
| Regulatory Liabilities Currently Not Paying a Return | | | | | | | Peak Demand Reduction/Energy Efficiency | | 29.0 |
| | 1.5 |
| | 2 years | Enhanced Service Reliability Plan | | 21.7 |
| | 8.0 |
| | 2 years | gridSMART® Costs | | 11.9 |
| | — |
| | 2 years | Storm Related Costs | | 5.3 |
| | 1.3 |
| | 2 years | Deferred Asset Phase-In Rider | | 4.5 |
| | 5.1 |
| | 4 years | Unrealized Gain on Forward Commitments | | — |
| | 15.3 |
| |
| Regulatory Settlement | | — |
| | 9.0 |
| |
| Other Regulatory Liabilities Approved for Payment | | 0.9 |
| | 1.0 |
| | various | Total Regulatory Liabilities Approved for Payment | | 506.0 |
| | 473.4 |
| | | | | | | | | | Total Noncurrent Regulatory Liabilities and Deferred Investment Tax Credits | | $ | 506.2 |
| | $ | 514.2 |
| | |
(a) Relieved as removal costs are incurred. | | | | | | | | | | | | | | PSO | | | December 31, | | Remaining Recovery Period | | | 2016 | | 2015 | | Regulatory Assets: | | (in millions) | | | | | | | | | | Current Regulatory Assets | | | | | | | Under-recovered Fuel Costs - earns a return | | $ | 33.8 |
| | $ | — |
| | 1 year | Total Current Regulatory Assets | | $ | 33.8 |
| | $ | — |
| | | | | | | | | | Noncurrent Regulatory Assets | | | | | | | Regulatory assets pending final regulatory approval: | | | | | | | | | | | | | | Regulatory Assets Currently Earning a Return | | | | | | | Plant Retirement Costs - Unrecovered Plant | | $ | 84.5 |
| | $ | — |
| | | Other Regulatory Assets Pending Final Regulatory Approval | | 0.5 |
| | — |
| | | Regulatory Assets Currently Not Earning a Return | | | | | | | Storm Related Costs | | 20.0 |
| | 12.3 |
| | | Environmental Control Projects | | 13.1 |
| | — |
| | | Other Regulatory Assets Pending Final Regulatory Approval | | — |
| | 1.1 |
| | | Total Regulatory Assets Pending Final Regulatory Approval | | 118.1 |
| | 13.4 |
| | | | | | | | | | Regulatory assets approved for recovery: | | | | | | | | | | | | | | Regulatory Assets Currently Earning a Return | | | | | | | Meter Replacement Costs | | 50.1 |
| | 35.8 |
| | 8 years | Storm Related Costs | | 10.8 |
| | — |
| | 3 years | Red Rock Generating Facility | | 9.1 |
| | 9.3 |
| | 40 years | Regulatory Assets Currently Not Earning a Return | | | | | | | Pension and OPEB Funded Status | | 98.1 |
| | 95.1 |
| | 12 years | Deferred System Reliability Rider Expenses | | 12.5 |
| | 9.9 |
| | 1 year | Storm Related Costs | | — |
| | 15.4 |
| | | SPP Base Plan Fees | | 10.7 |
| | — |
| | 2 years | Peak Demand Reduction/Energy Efficiency | | 10.3 |
| | 11.8 |
| | 2 years | Income Taxes, Net | | 9.3 |
| | 6.1 |
| | 33 years | Unamortized Loss on Reacquired Debt | | 5.8 |
| | 6.8 |
| | 16 years | Medicare Subsidy | | 3.9 |
| | 4.4 |
| | 8 years | Rate Case Expenses | | 1.4 |
| | 1.2 |
| | 1 year | Vegetation Management | | — |
| | 4.5 |
| |
| Other Regulatory Assets Approved for Recovery | | 0.1 |
| | 1.1 |
| | various | Total Regulatory Assets Approved for Recovery | | 222.1 |
| | 201.4 |
| | | | | | | | | | Total Noncurrent Regulatory Assets | | $ | 340.2 |
| | $ | 214.8 |
| | |
| | | | | | | | | | | | | | PSO | | | December 31, | | Remaining Refund Period | | | 2016 | | 2015 | | Regulatory Liabilities: | | (in millions) | | | | | | | | | | Current Regulatory Liabilities | | | | | | | Over-recovered Fuel Costs - pays a return | | $ | — |
| | $ | 76.1 |
| |
| Total Current Regulatory Liabilities | | $ | — |
| | $ | 76.1 |
| | | | | | | | | | Noncurrent Regulatory Liabilities and Deferred Investment Tax Credits | | | | | | | Regulatory liabilities approved for payment: | | | | | | | | | | | | | | Regulatory Liabilities Currently Paying a Return | | | | | | | Asset Removal Costs | | $ | 279.3 |
| | $ | 275.5 |
| | (a) | Regulatory Liabilities Currently Not Paying a Return | | | | | | | Deferred Investment Tax Credits | | 48.0 |
| | 46.3 |
| | 38 years | Advanced Metering Costs | | 11.5 |
| | 11.4 |
| | 1 year | Base Plan Funding Costs | | — |
| | 1.3 |
| |
| Other Regulatory Liabilities Approved for Payment | | 0.9 |
| | 0.6 |
| | various | Total Regulatory Liabilities Approved for Payment | | 339.7 |
| | 335.1 |
| | | | | | | | | | Total Noncurrent Regulatory Liabilities and Deferred Investment Tax Credits | | $ | 339.7 |
| | $ | 335.1 |
| | |
| | (a) | Relieved as removal costs are incurred. |
| | | | | | | | | | | | | | SWEPCo | | | December 31, | | Remaining Recovery Period | | | 2016 | | 2015 | | Regulatory Assets: | | (in millions) | | | | | | | | | | Current Regulatory Assets | | | | | | | Under-recovered Fuel Costs - earns a return | | $ | 8.4 |
| | $ | 4.1 |
| | 1 year | Total Current Regulatory Assets | | $ | 8.4 |
| | $ | 4.1 |
| | | | | | | | | | Noncurrent Regulatory Assets | | | | | | | Regulatory assets pending final regulatory approval: | | | | | | | | | | | | | | Regulatory Assets Currently Earning a Return | | | | | | | Plant Retirement Costs - Unrecovered Plant | | $ | 75.4 |
| | $ | — |
| | | Other Regulatory Assets Pending Final Regulatory Approval | | 0.8 |
| | — |
| | | Regulatory Assets Currently Not Earning a Return | | | | | | | Environmental Controls Projects | | 11.0 |
| | — |
| | | Shipe Road Transmission Project - FERC | | 3.1 |
| | 3.1 |
| | | Asset Retirement Obligation - Arkansas, Louisiana | | 2.7 |
| | 1.7 |
| | | Rate Case Expense - Texas | | 1.0 |
| | 0.3 |
| | | Other Regulatory Assets Pending Final Regulatory Approval | | 1.9 |
| | 0.8 |
| | | Total Regulatory Assets Pending Final Regulatory Approval | | 95.9 |
| | 5.9 |
| | | | | | | | | | Regulatory assets approved for recovery: | | | | | | | | | | | | | | Regulatory Assets Currently Earning a Return | | | | | | | Other Regulatory Assets Approved for Recovery | | 1.3 |
| | 0.2 |
| | various | Regulatory Assets Currently Not Earning a Return | | | | | | | Income Taxes, Net | | 314.2 |
| | 271.9 |
| | 34 years | Pension and OPEB Funded Status | | 119.8 |
| | 108.9 |
| | 12 years | Unamortized Loss on Reacquired Debt | | 5.4 |
| | 6.0 |
| | 27 years | Medicare Subsidy | | 4.3 |
| | 4.8 |
| | 8 years | Rate Case Expense - Texas | | 4.2 |
| | 6.8 |
| | 2 years | Peak Demand Reduction/Energy Efficiency | | 3.0 |
| | 1.0 |
| | 2 years | Deferred Restructuring Costs - Louisiana | | 1.9 |
| | 3.5 |
| | 2 years | Unrealized Loss on Forward Commitments | | 0.3 |
| | 5.5 |
| | 1 year | Other Regulatory Assets Approved for Recovery | | 0.9 |
| | 1.3 |
| | various | Total Regulatory Assets Approved for Recovery | | 455.3 |
| | 409.9 |
| | | | | | | | | | Total Noncurrent Regulatory Assets | | $ | 551.2 |
| | $ | 415.8 |
| | |
| | | | | | | | | | | | | | SWEPCo | | | December 31, | | Remaining Refund Period | | | 2016 | | 2015 | | Regulatory Liabilities: | | (in millions) | | | | | | | | | | Current Regulatory Liabilities | | | | | | | Over-recovered Fuel Costs - pays a return | | $ | 3.8 |
| | $ | 8.4 |
| | 1 year | Total Current Regulatory Liabilities | | $ | 3.8 |
| | $ | 8.4 |
| | | | | | | | | | Noncurrent Regulatory Liabilities and Deferred Investment Tax Credits | | | | | | | Regulatory liabilities approved for payment: | | | | | | | | | | | | | | Regulatory Liabilities Currently Paying a Return | | | | | | | Asset Removal Costs | | $ | 409.7 |
| | $ | 396.8 |
| | (a) | Refundable Construction Financing Costs - Louisiana | | 16.2 |
| | 37.4 |
| | 2 years | Excess Earnings - Texas | | 2.7 |
| | 2.7 |
| | 37 years | Generation Recovery Rider Costs - Arkansas | | 1.2 |
| | 1.5 |
| | 2 years | Regulatory Liabilities Currently Not Paying a Return | | | | | | | Deferred Investment Tax Credits | | 7.3 |
| | 8.5 |
| | 14 years | Other Regulatory Liabilities Approved for Payment | | 1.8 |
| | 1.9 |
| | various | Total Regulatory Liabilities Approved for Payment | | 438.9 |
| | 448.8 |
| | | | | | | | | | Total Noncurrent Regulatory Liabilities and Deferred Investment Tax Credits | | $ | 438.9 |
| | $ | 448.8 |
| | |
| | (a) | Relieved as removal costs are incurred. |
|
Appalachian Power Co [Member] |
|
Effects of Regulation |
EFFECTS OF REGULATION
The disclosures in this note apply to all Registrants unless indicated otherwise.
Regulatory Assets and Liabilities
Regulatory assets and liabilities are comprised of the following items: | | | | | | | | | | | | | | AEP | | | December 31, | | Remaining Recovery Period | | | 2016 | | 2015 | | Current Regulatory Assets | | (in millions) | | | Under-recovered Fuel Costs - earns a return | | $ | 61.4 |
| | $ | 38.9 |
| | 1 year | Under-recovered Fuel Costs - does not earn a return | | 95.2 |
| | 76.3 |
| | 1 year | Total Current Regulatory Assets | | $ | 156.6 |
| | $ | 115.2 |
| | | | | | | | | | Noncurrent Regulatory Assets | | | | | | | Regulatory assets pending final regulatory approval: | | | | | | | | | | | | | | Regulatory Assets Currently Earning a Return | | | | | | | Plant Retirement Costs - Unrecovered Plant | | $ | 159.9 |
| | $ | — |
| | | Ohio Capacity Deferral | | 96.7 |
| | — |
| | | Storm Related Costs | | 25.1 |
| | 24.2 |
| | | Plant Retirement Costs - Materials and Supplies | | 9.1 |
| | 20.9 |
| | | Other Regulatory Assets Pending Final Regulatory Approval | | 1.3 |
| | — |
| | | Regulatory Assets Currently Not Earning a Return | | | | | | | Cook Plant Uprate Project | | 36.3 |
| | — |
| | | Plant Retirement Costs - Asset Retirement Obligation Costs | | 29.6 |
| | 59.8 |
| | | Storm Related Costs | | 25.9 |
| | 18.2 |
| | | Environmental Control Projects | | 24.1 |
| | — |
| | | Cook Plant Turbine | | 12.8 |
| | 9.7 |
| | | Peak Demand Reduction/Energy Efficiency | | 0.2 |
| | 13.1 |
| | | Other Regulatory Assets Pending Final Regulatory Approval | | 29.1 |
| | 22.0 |
| | | Total Regulatory Assets Pending Final Regulatory Approval (b) | | 450.1 |
| | 167.9 |
| | | | | | | | | | Regulatory assets approved for recovery: | | | | | | | | | | | | | | Regulatory Assets Currently Earning a Return | | | | | | | Plant Retirement Costs - Unrecovered Plant | | 550.6 |
| | 539.3 |
| | 28 years | Ohio Phase-In Recovery Rider | | 218.9 |
| | 304.5 |
| | 2 years | Ohio Capacity Deferral | | 201.9 |
| | 358.7 |
| | 2 years | Meter Replacement Costs | | 99.9 |
| | 90.4 |
| | 11 years | Ohio Distribution Decoupling | | 41.8 |
| | 37.5 |
| | 2 years | Advanced Metering System | | 20.9 |
| | 3.6 |
| | 4 years | Basic Transmission Cost Rider | | 19.9 |
| | — |
| | 2 years | West Virginia Delayed Customer Billing | | 19.5 |
| | — |
| | 2 years | Asset Removal Costs | | 18.7 |
| | 38.1 |
| | (a) | Mitchell Plant Transfer | | 18.5 |
| | 19.3 |
| | 24 years | Plant Retirement Costs - Asset Retirement Obligation Costs | | 18.3 |
| | 7.6 |
| | 24 years | Storm Related Costs | | 15.3 |
| | 8.8 |
| | 3 years | Red Rock Generating Facility | | 9.1 |
| | 9.3 |
| | 40 years | Ohio Transmission Cost Recovery Rider | | — |
| | 12.3 |
| |
| Other Regulatory Assets Approved for Recovery | | 27.6 |
| | 25.5 |
| | various | Regulatory Assets Currently Not Earning a Return | | | | | | | Income Taxes, Net (c) | | 1,575.0 |
| | 1,385.3 |
| | 62 years | Pension and OPEB Funded Status | | 1,516.2 |
| | 1,410.5 |
| | 12 years | Unamortized Loss on Reacquired Debt | | 137.8 |
| | 148.7 |
| | 29 years | Unrealized Loss on Forward Commitments | | 119.1 |
| | 10.7 |
| | 16 years | Cook Plant Nuclear Refueling Outage Levelization | | 75.2 |
| | 26.8 |
| | 3 years | Storm Related Costs | | 58.7 |
| | 94.6 |
| | 4 years | Peak Demand Reduction/Energy Efficiency | | 49.9 |
| | 33.3 |
| | 5 years | Plant Retirement Costs - Asset Retirement Obligation Costs | | 48.9 |
| | 58.0 |
| | 24 years | Postemployment Benefits | | 39.1 |
| | 42.6 |
| | 5 years | Virginia Transmission Rate Adjustment Clause | | 38.7 |
| | 74.6 |
| | 2 years | Medicare Subsidy | | 37.2 |
| | 41.8 |
| | 8 years | Vegetation Management | | 31.4 |
| | 36.9 |
| | 5 years | Off-system Sales Margin Sharing - Indiana | | 24.3 |
| | 6.8 |
| | 2 years | OVEC Purchased Power | | 22.1 |
| | — |
| | 2 years |
| | | | | | | | | | | | United Mine Workers of America Pension Withdrawal | | 20.2 |
| | 14.4 |
| | 6 years | Deferred System Reliability Rider Expenses | | 12.5 |
| | 9.9 |
| | 1 year | SPP Base Plan Fees | | 10.7 |
| | — |
| | 2 years | Carbon Capture and Storage Product Validation Facility | | 9.1 |
| | 11.7 |
| | 4 years | IGCC Pre-Construction Costs | | 8.6 |
| | 10.9 |
| | 24 years | Transmission Cost Recovery Factor | | 5.3 |
| | 9.9 |
| | 1 year | Distribution Investment Rider | | 2.0 |
| | 12.3 |
| | 2 years | Other Regulatory Assets Approved for Recovery | | 52.5 |
| | 77.8 |
| | various | Total Regulatory Assets Approved for Recovery | | 5,175.4 |
| | 4,972.4 |
| | | | | | | | | | Total Noncurrent Regulatory Assets | | $ | 5,625.5 |
| | $ | 5,140.3 |
| | |
| | (a) | As a regulated entity, removal costs accrued are typically recorded as regulatory liabilities when removal costs accrued exceed actual removal costs incurred. The asset removal costs liability is relieved as removal costs are incurred. As of December 31, 2016, KPCo’s accumulated actual removal cost incurred exceeded accumulated removal cost accrued, creating an asset balance. As a result, the balance was reclassified to a regulatory asset. Within the next two years, KPCo’s removal costs accrued are expected to exceed removal costs incurred resulting in a regulatory liability. |
| | (b) | As of December 31, 2016, APCo has deferred a total of $91 million as charges to accumulated depreciation related to certain plant retirements in 2015. APCo intends to address the need for depreciation rate increases in a subsequent base rate cases. |
| | (c) | Includes $320 million and $288 million as of December 31, 2016 and 2015, respectively, expected to be recovered in formula rates. |
| | | | | | | | | | | | | | AEP | | | December 31, | | Remaining | | | 2016 | | 2015 | | Refund Period | Current Regulatory Liabilities | | (in millions) | | | Over-recovered Fuel Costs - pays a return | | $ | 3.8 |
| | $ | 84.8 |
| | 1 year | Over-recovered Fuel Costs - does not pay a return | | 4.2 |
| | 29.1 |
| | 1 year | Total Current Regulatory Liabilities | | $ | 8.0 |
| | $ | 113.9 |
| | | | | | | | | | Noncurrent Regulatory Liabilities and Deferred Investment Tax Credits | | | | | | | Regulatory liabilities pending final regulatory determination: | | | | | | | | | | | | | | Regulatory Liabilities Currently Not Paying a Return | | | | | | | Provision for Regulatory Loss | | $ | — |
| | $ | 40.6 |
| | | Other Regulatory Liabilities Pending Final Regulatory Determination | | 0.8 |
| | 0.2 |
| | | Total Regulatory Liabilities Pending Final Regulatory Determination | | 0.8 |
| | 40.8 |
| | | | | | | | | | Regulatory liabilities approved for payment: | | | | | | | | | | | | | | Regulatory Liabilities Currently Paying a Return | | | | | | | Asset Removal Costs (a) | | 2,627.5 |
| | 2,656.5 |
| | (b) | Advanced Metering Infrastructure Surcharge | | 17.0 |
| | 21.2 |
| | 4 years | Louisiana Refundable Construction Financing Costs | | 16.2 |
| | 37.4 |
| | 2 years | Deferred Investment Tax Credits | | 12.6 |
| | 14.7 |
| | 42 years | Excess Earnings | | 10.0 |
| | 10.6 |
| | 37 years | Other Regulatory Liabilities Approved for Payment | | 1.6 |
| | 20.5 |
| | various | Regulatory Liabilities Currently Not Paying a Return | | | | | | | Excess Nuclear Decommissioning Funding | | 731.2 |
| | 636.5 |
| | (c) | Deferred Investment Tax Credits | | 132.9 |
| | 113.3 |
| | 46 years | Spent Nuclear Fuel | | 44.2 |
| | 43.4 |
| | (c) | Transition Charges | | 40.5 |
| | 46.5 |
| | 11 years | Peak Demand Reduction/Energy Efficiency | | 34.0 |
| | 5.3 |
| | 2 years | Enhanced Service Reliability Plan | | 21.7 |
| | 8.0 |
| | 2 years | gridSMART® Costs | | 11.9 |
| | — |
| | 2 years | Advanced Metering Costs | | 11.5 |
| | 11.4 |
| | 1 year | Unrealized Gain on Forward Commitments | | 6.2 |
| | 33.8 |
| | 2 years | Deferred Wind Power Costs | | 2.1 |
| | 11.8 |
| | 1 year | Other Regulatory Liabilities Approved for Payment | | 29.4 |
| | 24.4 |
| | various | Total Regulatory Liabilities Approved for Payment | | 3,750.5 |
| | 3,695.3 |
| | | | | | | | | | Total Noncurrent Regulatory Liabilities and Deferred Investment Tax Credits | | $ | 3,751.3 |
| | $ | 3,736.1 |
| | |
| | (a) | As of December 31, 2016, I&M also charged $43 million to asset removal costs related to various Tanners Creek Plant related assets, primarily related to the net book value of ARO assets. The Indiana and Michigan retail jurisdictions of I&M have increased depreciation rates on Rockport Plant to recover the net book value of Tanners Creek Plant that was retired in 2015. I&M intends to address the need for increases in depreciation rates to recover the deferral in its next Indiana and Michigan base rate cases. |
| | (b) | Relieved as removal costs are incurred. |
| | (c) | Relieved when plant is decommissioned. |
| | | | | | | | | | | | | | APCo | | | December 31, | | Remaining Recovery Period | Regulatory Assets: | | 2016 | | 2015 | | | | (in millions) | | | Current Regulatory Assets | | | | | | | Under-recovered Fuel Costs - earns a return | | $ | 6.2 |
| | $ | 27.3 |
| | 1 year | Under-recovered Fuel Costs - does not earn a return | | 62.2 |
| | 59.6 |
| | 1 year | Total Current Regulatory Assets | | $ | 68.4 |
| | $ | 86.9 |
| | | | | | | | | | Noncurrent Regulatory Assets | | | | | | | Regulatory assets pending final regulatory approval: | | | | | | | | | | | | | | Regulatory Assets Currently Earning a Return | | | | | | | Plant Retirement Costs - Materials and Supplies | | $ | 9.1 |
| | $ | 9.3 |
| | | Regulatory Assets Currently Not Earning a Return | | | | | | | Plant Retirement Costs - Asset Retirement Obligation Costs | | 29.6 |
| | 32.7 |
| | | Peak Demand Reduction/Energy Efficiency - Virginia | | — |
| | 12.7 |
| | | Amos Plant Transfer Costs - West Virginia | | — |
| | 2.0 |
| | | Other Regulatory Assets Pending Final Regulatory Approval | | 0.6 |
| | 0.6 |
| | | Total Regulatory Assets Pending Final Regulatory Approval (a) | | 39.3 |
| | 57.3 |
| | | | | | | | | | Regulatory assets approved for recovery: | | | | | | | | | | | | | | Regulatory Assets Currently Earning a Return | | | | | | | Plant Retirement Costs - Unrecovered Plant - West Virginia | | 85.4 |
| | 86.5 |
| | 27 years | West Virginia Delayed Customer Billing | | 18.1 |
| | — |
| | 2 years | Storm Related Costs - Virginia | | 4.6 |
| | 8.8 |
| | 2 years | RTO Formation/Integration Costs | | 1.6 |
| | 2.1 |
| | 3 years | Other Regulatory Assets Approved for Recovery | | 0.6 |
| | — |
| | various | Regulatory Assets Currently Not Earning a Return | | | | | | | Income Taxes, Net (b) | | 463.5 |
| | 441.7 |
| | 26 years | Pension and OPEB Funded Status | | 221.4 |
| | 217.6 |
| | 12 years | Unamortized Loss on Reacquired Debt | | 97.2 |
| | 101.5 |
| | 29 years | Storm Related Costs - West Virginia | | 47.8 |
| | 63.5 |
| | 4 years | Virginia Transmission Rate Adjustment Clause | | 38.7 |
| | 74.6 |
| | 2 years | Vegetation Management Program - West Virginia | | 31.4 |
| | 31.2 |
| | 5 years | Peak Demand Reduction/Energy Efficiency | | 19.2 |
| | 3.5 |
| | 4 years | Postemployment Benefits | | 17.4 |
| | 19.6 |
| | 5 years | Carbon Capture and Storage Product Validation Facility - West Virginia, FERC | | 9.1 |
| | 11.7 |
| | 4 years | IGCC Pre-Construction Costs - West Virginia, FERC | | 7.4 |
| | 9.6 |
| | 4 years | Virginia Generation Rate Adjustment Clause | | 6.5 |
| | 5.2 |
| | 2 years | Medicare Subsidy - West Virginia, FERC | | 4.7 |
| | 5.3 |
| | 8 years | Uncollected Accounts - West Virginia | | 2.7 |
| | 3.5 |
| | 4 years | Deferred Restructuring Costs - West Virginia | | 2.5 |
| | 4.5 |
| | 2 years | Carbon Capture and Storage Commercial Scale Facility - West Virginia, FERC | | 1.0 |
| | 1.2 |
| | 6 years | Asset Retirement Obligation | | 0.6 |
| | 2.4 |
| | 1 year | Transmission Agreement Phase-In - West Virginia | | — |
| | 1.7 |
| |
| Other Regulatory Assets Approved for Recovery | | 0.4 |
| | 1.2 |
| | various | Total Regulatory Assets Approved for Recovery | | 1,081.8 |
| | 1,096.9 |
| | | | | | | | | | Total Noncurrent Regulatory Assets | | $ | 1,121.1 |
| | $ | 1,154.2 |
| | |
| | (a) | As of December 31, 2016, APCo has also deferred $91 million as a charge to accumulated depreciation related to the net book value of certain plants retired in 2015, primarily in its Virginia jurisdiction. These plants were normal retirements and not abandonments. APCo intends to address the need for an increase in its Virginia depreciation rates in March 2020, as part of its 2018-2019 Virginia biennial filing. |
| | (b) | Includes $64 million and $59 million as of December 31, 2016 and 2015, respectively, expected to be recovered in formula rates. |
| | | | | | | | | | | | | | APCo | | | December 31, | | Remaining Refund Period | Regulatory Liabilities: | | 2016 | | 2015 | | | | (in millions) | | | Noncurrent Regulatory Liabilities and Deferred Investment Tax Credits | | | | | | | Regulatory liabilities approved for payment: | | | | | | | | | | | | | | Regulatory Liabilities Currently Paying a Return | | | | | | | Asset Removal Costs | | $ | 616.9 |
| | $ | 612.9 |
| | (a) | Deferred Investment Tax Credits | | 0.9 |
| | 1.0 |
| | 42 years | Regulatory Liabilities Currently Not Paying a Return | | | | | | | Consumer Rate Relief - West Virginia | | 5.1 |
| | 2.9 |
| | 1 year | Deferred Wind Power Costs - Virginia | | 2.1 |
| | 11.8 |
| | 1 year | Energy Efficiency Rate Adjustment Clause - Virginia | | 1.5 |
| | — |
| | 2 years | Unrealized Gain on Forward Commitments | | 1.3 |
| | 8.4 |
| | 2 years | Other Regulatory Liabilities Approved for Payment | | — |
| | 0.1 |
| | various | Total Regulatory Liabilities Approved for Payment | | 627.8 |
| | 637.1 |
| | | | | | | | | | Total Noncurrent Regulatory Liabilities and Deferred Investment Tax Credits | | $ | 627.8 |
| | $ | 637.1 |
| | |
| | (a) | Relieved as removal costs are incurred. |
| | | | | | | | | | | | | | I&M | | | December 31, | | Remaining Recovery Period | Regulatory Assets: | | 2016 | | 2015 | | | | (in millions) | | | Current Regulatory Assets | | | | | | | Under-recovered Fuel Costs - earns a return | | $ | 13.0 |
| | $ | 7.5 |
| | 1 year | Under-recovered Fuel Costs - does not earn a return | | 13.1 |
| | 4.1 |
| | 1 year | Total Current Regulatory Assets | | $ | 26.1 |
| | $ | 11.6 |
| | | | | | | | | | Noncurrent Regulatory Assets | | | | | | | Regulatory assets pending final regulatory approval: | | | | | | | | | | | | | | Regulatory Assets Currently Earning a Return | | | | | | | Plant Retirement Costs - Materials and Supplies | | $ | — |
| | $ | 11.6 |
| | | Regulatory Assets Currently Not Earning a Return | | | | | | | Cook Uprate Project | | 36.3 |
| | — |
| | | Cook Plant Turbine | | 12.8 |
| | 9.7 |
| | | Deferred Cook Plant Life Cycle Management Project Costs - Michigan | | 8.1 |
| | 4.2 |
| | | Rockport Plant Dry Sorbent Injection System - Indiana | | 6.6 |
| | 2.8 |
| | | Plant Retirement Costs - Asset Retirement Obligation Costs - Indiana | | — |
| | 27.1 |
| | | Stranded Costs on Abandoned Plants | | — |
| | 3.9 |
| | | Other Regulatory Assets Pending Final Regulatory Approval | | 0.9 |
| | — |
| | | Total Regulatory Assets Pending Final Regulatory Approval | | 64.7 |
| | 59.3 |
| | | | | | | | | | Regulatory assets approved for recovery: | | | | | | | | | | | | | | Regulatory Assets Currently Earning a Return | | | | | | | Plant Retirement Costs - Unrecovered Plant | | 252.8 |
| | 260.3 |
| | 28 years | Cook Plant, Unit 2 Baffle Bolts - Indiana | | 6.3 |
| | 6.6 |
| | 22 years | RTO Formation/Integration Costs | | 1.2 |
| | 1.5 |
| | 3 years | Other Regulatory Assets Approved for Recovery | | 1.3 |
| | 1.0 |
| | various | Regulatory Assets Currently Not Earning a Return | | | | | | | Income Taxes, Net (a) | | 302.6 |
| | 246.8 |
| | 32 years | Pension and OPEB Funded Status | | 141.9 |
| | 126.4 |
| | 12 years | Cook Plant Nuclear Refueling Outage Levelization | | 75.2 |
| | 26.8 |
| | 3 years | Off-system Sales Margin Sharing - Indiana | | 24.3 |
| | 6.8 |
| | 2 years | Postemployment Benefits | | 11.4 |
| | 10.7 |
| | 5 years | Unamortized Loss on Reacquired Debt | | 10.7 |
| | 12.0 |
| | 16 years | Medicare Subsidy | | 8.2 |
| | 9.2 |
| | 8 years | Litigation Settlement - Indiana | | 7.6 |
| | 8.6 |
| | 9 years | River Transportation Division Expenses | | 3.7 |
| | — |
| | 1 year | Peak Demand Reduction/Energy Efficiency | | 3.6 |
| | 10.6 |
| | 2 years | Capacity Costs - Indiana | | 0.4 |
| | 7.5 |
| | 1 year | Unrealized Loss on Forward Commitments | | 0.1 |
| | 3.2 |
| | 2 years | PJM Expense - Indiana | | — |
| | 4.1 |
| |
| Storm Related Costs - Indiana | | — |
| | 1.8 |
| |
| Other Regulatory Assets Approved for Recovery | | 0.6 |
| | 1.1 |
| | various | Total Regulatory Assets Approved for Recovery | | 851.9 |
| | 745.0 |
| | | | | | | | | | Total Noncurrent Regulatory Assets | | $ | 916.6 |
| | $ | 804.3 |
| | |
| | (a) | Includes $74 million and $69 million as of December 31, 2016 and 2015, respectively, expected to be recovered in formula rates. |
| | | | | | | | | | | | | | I&M | | | December 31, | | Remaining Refund Period | Regulatory Liabilities: | | 2016 | | 2015 | | | | (in millions) | | | Current Regulatory Liabilities | | | | | | | Over-recovered Fuel Costs - pays a return | | $ | — |
| | $ | 0.3 |
| |
| Total Current Regulatory Liabilities | | $ | — |
| | $ | 0.3 |
| | | | | | | | | | Noncurrent Regulatory Liabilities and Deferred Investment Tax Credits | | | | | | | Regulatory liabilities approved for payment: | | | | | | | | | | | | | | Regulatory Liabilities Currently Paying a Return | | | | | | | Asset Removal Costs (a) | | $ | 236.5 |
| | $ | 350.6 |
| | (b) | Regulatory Liabilities Currently Not Paying a Return | | | | | | | Excess Nuclear Decommissioning Funding | | 731.2 |
| | 636.5 |
| | (c) | Spent Nuclear Fuel | | 44.2 |
| | 43.4 |
| | (c) | Deferred Investment Tax Credits | | 38.8 |
| | 35.0 |
| | 20 years | Deferred Cook Plant Life Cycle Management Project Costs - Indiana | | 4.6 |
| | — |
| | 3 years | PJM Expense - Indiana | | 4.2 |
| | — |
| | 2 years | Unrealized Gain on Forward Commitments | | 2.4 |
| | 7.1 |
| | 2 years | Rockport Plant Dry Sorbent Injection | | 1.7 |
| | 0.4 |
| | 2 years | Storm Related Costs - Indiana | | 1.2 |
| | — |
| | 1 year | River Transportation Division Expenses | | — |
| | 1.9 |
| |
| Other Regulatory Liabilities Approved for Payment | | 0.7 |
| | 1.3 |
| | various | Total Regulatory Liabilities Approved for Payment | | 1,065.5 |
| | 1,076.2 |
| | | | | | | | | | Total Noncurrent Regulatory Liabilities and Deferred Investment Tax Credits | | $ | 1,065.5 |
| | $ | 1,076.2 |
| | |
| | (a) | As of December 31, 2016, I&M has charged $43 million to asset removal costs related to various Tanners Creek Plant related assets, primarily related to the net book value of ARO assets. The Indiana and Michigan retail jurisdictions of I&M have increased depreciation rates on Rockport Plant to recover the net book value of Tanners Creek Plant that was retired in 2015. I&M intends to address the need for increases in depreciation rates to recover the deferral in its next Indiana and Michigan base rate cases. |
| | (b) | Relieved as removal costs are incurred. |
| | (c) | Relieved when plant is decommissioned. |
| | | | | | | | | | | | | | OPCo | | | December 31, | | Remaining Recovery Period | Regulatory Assets: | | 2016 |
| 2015 | | | | (in millions) | | | Noncurrent Regulatory Assets | | | | | | | Regulatory assets pending final regulatory approval: | | | | | | | | | | | | | | Regulatory Assets Currently Earning a Return | | | | | | | Capacity Deferral | | $ | 96.7 |
| | $ | — |
| | | Regulatory Assets Currently Not Earning a Return | | | | | | | gridSMART® Costs | | 4.1 |
| | 1.3 |
| | | Total Regulatory Assets Pending Final Regulatory Approval | | 100.8 |
| | 1.3 |
| | | | | | | | | | Regulatory assets approved for recovery: | | | | | | | | | | | | | | Regulatory Assets Currently Earning a Return | | | | | | | Phase-In Recovery Rider | | 218.9 |
| | 304.5 |
| | 2 years | Capacity Deferral | | 201.9 |
| | 358.7 |
| | 2 years | Distribution Decoupling | | 41.8 |
| | 37.5 |
| | 2 years | Basic Transmission Cost Rider | | 19.9 |
| | — |
| | 2 years | RTO Formation/Integration Costs | | 2.5 |
| | 3.1 |
| | 3 years | Economic Development Rider | | 1.7 |
| | — |
| | 2 years | Transmission Cost Recovery Rider | | — |
| | 12.3 |
| |
| Regulatory Assets Currently Not Earning a Return | | | | | | | Pension and OPEB Funded Status | | 225.2 |
| | 219.4 |
| | 12 years | Income Taxes, Net (a) | | 126.4 |
| | 129.0 |
| | 28 years | Unrealized Loss on Forward Commitments | | 118.6 |
| | — |
| | 16 years | OVEC Purchased Power | | 22.1 |
| | — |
| | 2 years | Unamortized Loss on Reacquired Debt | | 9.1 |
| | 10.4 |
| | 22 years | Medicare Subsidy | | 8.3 |
| | 9.3 |
| | 8 years | Postemployment Benefits | | 6.8 |
| | 7.3 |
| | 5 years | Distribution Investment Rider | | 2.0 |
| | 12.3 |
| | 2 years | Partnership with Ohio Contribution | | 1.4 |
| | 2.4 |
| | 2 years | gridSMART® Costs | | — |
| | 4.5 |
| |
| Other Regulatory Assets Approved for Recovery | | 0.1 |
| | 1.0 |
| | various | Total Regulatory Assets Approved for Recovery | | 1,006.7 |
| | 1,111.7 |
| | | | | | | | | | Total Noncurrent Regulatory Assets | | $ | 1,107.5 |
| | $ | 1,113.0 |
| | |
| | (a) | Includes $76 million and $82 million as of December 31, 2016 and 2015, respectively, expected to be recovered in formula rates. |
| | | | | | | | | | | | | | OPCo | | | December 31, | | Remaining Refund Period | | | 2016 | | 2015 | | Regulatory Liabilities: | | (in millions) | | | | | | | | | | Current Regulatory Liabilities | | | | | | | Over-recovered Fuel Costs - does not pay a return | | $ | 4.2 |
| | $ | 27.6 |
| | 1 year | Total Current Regulatory Liabilities | | $ | 4.2 |
| | $ | 27.6 |
| | | | | | | | | | Noncurrent Regulatory Liabilities and Deferred Investment Tax Credits | | | | | | | Regulatory liabilities pending final regulatory determination: | | | | | | | | | | | | | | Regulatory Liabilities Currently Not Paying a Return | | | | | | | Provision for Regulatory Loss | | $ | — |
| | $ | 40.6 |
| | | Other Regulatory Liabilities Pending Final Regulatory Determination | | 0.2 |
| | 0.2 |
| | | Total Regulatory Liabilities Pending Final Regulatory Determination | | 0.2 |
| | 40.8 |
| | | | | | | | | | Regulatory liabilities approved for payment: | | | | | | | | | | | | | | Regulatory Liabilities Currently Paying a Return | | | | | | | Asset Removal Costs | | 432.4 |
| | 422.3 |
| | (a) | Basic Transmission Cost Rider | | 0.3 |
| | 4.9 |
| | 2 years | Economic Development Rider | | — |
| | 5.0 |
| |
| Regulatory Liabilities Currently Not Paying a Return | | | | | | | Peak Demand Reduction/Energy Efficiency | | 29.0 |
| | 1.5 |
| | 2 years | Enhanced Service Reliability Plan | | 21.7 |
| | 8.0 |
| | 2 years | gridSMART® Costs | | 11.9 |
| | — |
| | 2 years | Storm Related Costs | | 5.3 |
| | 1.3 |
| | 2 years | Deferred Asset Phase-In Rider | | 4.5 |
| | 5.1 |
| | 4 years | Unrealized Gain on Forward Commitments | | — |
| | 15.3 |
| |
| Regulatory Settlement | | — |
| | 9.0 |
| |
| Other Regulatory Liabilities Approved for Payment | | 0.9 |
| | 1.0 |
| | various | Total Regulatory Liabilities Approved for Payment | | 506.0 |
| | 473.4 |
| | | | | | | | | | Total Noncurrent Regulatory Liabilities and Deferred Investment Tax Credits | | $ | 506.2 |
| | $ | 514.2 |
| | |
(a) Relieved as removal costs are incurred. | | | | | | | | | | | | | | PSO | | | December 31, | | Remaining Recovery Period | | | 2016 | | 2015 | | Regulatory Assets: | | (in millions) | | | | | | | | | | Current Regulatory Assets | | | | | | | Under-recovered Fuel Costs - earns a return | | $ | 33.8 |
| | $ | — |
| | 1 year | Total Current Regulatory Assets | | $ | 33.8 |
| | $ | — |
| | | | | | | | | | Noncurrent Regulatory Assets | | | | | | | Regulatory assets pending final regulatory approval: | | | | | | | | | | | | | | Regulatory Assets Currently Earning a Return | | | | | | | Plant Retirement Costs - Unrecovered Plant | | $ | 84.5 |
| | $ | — |
| | | Other Regulatory Assets Pending Final Regulatory Approval | | 0.5 |
| | — |
| | | Regulatory Assets Currently Not Earning a Return | | | | | | | Storm Related Costs | | 20.0 |
| | 12.3 |
| | | Environmental Control Projects | | 13.1 |
| | — |
| | | Other Regulatory Assets Pending Final Regulatory Approval | | — |
| | 1.1 |
| | | Total Regulatory Assets Pending Final Regulatory Approval | | 118.1 |
| | 13.4 |
| | | | | | | | | | Regulatory assets approved for recovery: | | | | | | | | | | | | | | Regulatory Assets Currently Earning a Return | | | | | | | Meter Replacement Costs | | 50.1 |
| | 35.8 |
| | 8 years | Storm Related Costs | | 10.8 |
| | — |
| | 3 years | Red Rock Generating Facility | | 9.1 |
| | 9.3 |
| | 40 years | Regulatory Assets Currently Not Earning a Return | | | | | | | Pension and OPEB Funded Status | | 98.1 |
| | 95.1 |
| | 12 years | Deferred System Reliability Rider Expenses | | 12.5 |
| | 9.9 |
| | 1 year | Storm Related Costs | | — |
| | 15.4 |
| | | SPP Base Plan Fees | | 10.7 |
| | — |
| | 2 years | Peak Demand Reduction/Energy Efficiency | | 10.3 |
| | 11.8 |
| | 2 years | Income Taxes, Net | | 9.3 |
| | 6.1 |
| | 33 years | Unamortized Loss on Reacquired Debt | | 5.8 |
| | 6.8 |
| | 16 years | Medicare Subsidy | | 3.9 |
| | 4.4 |
| | 8 years | Rate Case Expenses | | 1.4 |
| | 1.2 |
| | 1 year | Vegetation Management | | — |
| | 4.5 |
| |
| Other Regulatory Assets Approved for Recovery | | 0.1 |
| | 1.1 |
| | various | Total Regulatory Assets Approved for Recovery | | 222.1 |
| | 201.4 |
| | | | | | | | | | Total Noncurrent Regulatory Assets | | $ | 340.2 |
| | $ | 214.8 |
| | |
| | | | | | | | | | | | | | PSO | | | December 31, | | Remaining Refund Period | | | 2016 | | 2015 | | Regulatory Liabilities: | | (in millions) | | | | | | | | | | Current Regulatory Liabilities | | | | | | | Over-recovered Fuel Costs - pays a return | | $ | — |
| | $ | 76.1 |
| |
| Total Current Regulatory Liabilities | | $ | — |
| | $ | 76.1 |
| | | | | | | | | | Noncurrent Regulatory Liabilities and Deferred Investment Tax Credits | | | | | | | Regulatory liabilities approved for payment: | | | | | | | | | | | | | | Regulatory Liabilities Currently Paying a Return | | | | | | | Asset Removal Costs | | $ | 279.3 |
| | $ | 275.5 |
| | (a) | Regulatory Liabilities Currently Not Paying a Return | | | | | | | Deferred Investment Tax Credits | | 48.0 |
| | 46.3 |
| | 38 years | Advanced Metering Costs | | 11.5 |
| | 11.4 |
| | 1 year | Base Plan Funding Costs | | — |
| | 1.3 |
| |
| Other Regulatory Liabilities Approved for Payment | | 0.9 |
| | 0.6 |
| | various | Total Regulatory Liabilities Approved for Payment | | 339.7 |
| | 335.1 |
| | | | | | | | | | Total Noncurrent Regulatory Liabilities and Deferred Investment Tax Credits | | $ | 339.7 |
| | $ | 335.1 |
| | |
| | (a) | Relieved as removal costs are incurred. |
| | | | | | | | | | | | | | SWEPCo | | | December 31, | | Remaining Recovery Period | | | 2016 | | 2015 | | Regulatory Assets: | | (in millions) | | | | | | | | | | Current Regulatory Assets | | | | | | | Under-recovered Fuel Costs - earns a return | | $ | 8.4 |
| | $ | 4.1 |
| | 1 year | Total Current Regulatory Assets | | $ | 8.4 |
| | $ | 4.1 |
| | | | | | | | | | Noncurrent Regulatory Assets | | | | | | | Regulatory assets pending final regulatory approval: | | | | | | | | | | | | | | Regulatory Assets Currently Earning a Return | | | | | | | Plant Retirement Costs - Unrecovered Plant | | $ | 75.4 |
| | $ | — |
| | | Other Regulatory Assets Pending Final Regulatory Approval | | 0.8 |
| | — |
| | | Regulatory Assets Currently Not Earning a Return | | | | | | | Environmental Controls Projects | | 11.0 |
| | — |
| | | Shipe Road Transmission Project - FERC | | 3.1 |
| | 3.1 |
| | | Asset Retirement Obligation - Arkansas, Louisiana | | 2.7 |
| | 1.7 |
| | | Rate Case Expense - Texas | | 1.0 |
| | 0.3 |
| | | Other Regulatory Assets Pending Final Regulatory Approval | | 1.9 |
| | 0.8 |
| | | Total Regulatory Assets Pending Final Regulatory Approval | | 95.9 |
| | 5.9 |
| | | | | | | | | | Regulatory assets approved for recovery: | | | | | | | | | | | | | | Regulatory Assets Currently Earning a Return | | | | | | | Other Regulatory Assets Approved for Recovery | | 1.3 |
| | 0.2 |
| | various | Regulatory Assets Currently Not Earning a Return | | | | | | | Income Taxes, Net | | 314.2 |
| | 271.9 |
| | 34 years | Pension and OPEB Funded Status | | 119.8 |
| | 108.9 |
| | 12 years | Unamortized Loss on Reacquired Debt | | 5.4 |
| | 6.0 |
| | 27 years | Medicare Subsidy | | 4.3 |
| | 4.8 |
| | 8 years | Rate Case Expense - Texas | | 4.2 |
| | 6.8 |
| | 2 years | Peak Demand Reduction/Energy Efficiency | | 3.0 |
| | 1.0 |
| | 2 years | Deferred Restructuring Costs - Louisiana | | 1.9 |
| | 3.5 |
| | 2 years | Unrealized Loss on Forward Commitments | | 0.3 |
| | 5.5 |
| | 1 year | Other Regulatory Assets Approved for Recovery | | 0.9 |
| | 1.3 |
| | various | Total Regulatory Assets Approved for Recovery | | 455.3 |
| | 409.9 |
| | | | | | | | | | Total Noncurrent Regulatory Assets | | $ | 551.2 |
| | $ | 415.8 |
| | |
| | | | | | | | | | | | | | SWEPCo | | | December 31, | | Remaining Refund Period | | | 2016 | | 2015 | | Regulatory Liabilities: | | (in millions) | | | | | | | | | | Current Regulatory Liabilities | | | | | | | Over-recovered Fuel Costs - pays a return | | $ | 3.8 |
| | $ | 8.4 |
| | 1 year | Total Current Regulatory Liabilities | | $ | 3.8 |
| | $ | 8.4 |
| | | | | | | | | | Noncurrent Regulatory Liabilities and Deferred Investment Tax Credits | | | | | | | Regulatory liabilities approved for payment: | | | | | | | | | | | | | | Regulatory Liabilities Currently Paying a Return | | | | | | | Asset Removal Costs | | $ | 409.7 |
| | $ | 396.8 |
| | (a) | Refundable Construction Financing Costs - Louisiana | | 16.2 |
| | 37.4 |
| | 2 years | Excess Earnings - Texas | | 2.7 |
| | 2.7 |
| | 37 years | Generation Recovery Rider Costs - Arkansas | | 1.2 |
| | 1.5 |
| | 2 years | Regulatory Liabilities Currently Not Paying a Return | | | | | | | Deferred Investment Tax Credits | | 7.3 |
| | 8.5 |
| | 14 years | Other Regulatory Liabilities Approved for Payment | | 1.8 |
| | 1.9 |
| | various | Total Regulatory Liabilities Approved for Payment | | 438.9 |
| | 448.8 |
| | | | | | | | | | Total Noncurrent Regulatory Liabilities and Deferred Investment Tax Credits | | $ | 438.9 |
| | $ | 448.8 |
| | |
| | (a) | Relieved as removal costs are incurred. |
|
Indiana Michigan Power Co [Member] |
|
Effects of Regulation |
EFFECTS OF REGULATION
The disclosures in this note apply to all Registrants unless indicated otherwise.
Regulatory Assets and Liabilities
Regulatory assets and liabilities are comprised of the following items: | | | | | | | | | | | | | | AEP | | | December 31, | | Remaining Recovery Period | | | 2016 | | 2015 | | Current Regulatory Assets | | (in millions) | | | Under-recovered Fuel Costs - earns a return | | $ | 61.4 |
| | $ | 38.9 |
| | 1 year | Under-recovered Fuel Costs - does not earn a return | | 95.2 |
| | 76.3 |
| | 1 year | Total Current Regulatory Assets | | $ | 156.6 |
| | $ | 115.2 |
| | | | | | | | | | Noncurrent Regulatory Assets | | | | | | | Regulatory assets pending final regulatory approval: | | | | | | | | | | | | | | Regulatory Assets Currently Earning a Return | | | | | | | Plant Retirement Costs - Unrecovered Plant | | $ | 159.9 |
| | $ | — |
| | | Ohio Capacity Deferral | | 96.7 |
| | — |
| | | Storm Related Costs | | 25.1 |
| | 24.2 |
| | | Plant Retirement Costs - Materials and Supplies | | 9.1 |
| | 20.9 |
| | | Other Regulatory Assets Pending Final Regulatory Approval | | 1.3 |
| | — |
| | | Regulatory Assets Currently Not Earning a Return | | | | | | | Cook Plant Uprate Project | | 36.3 |
| | — |
| | | Plant Retirement Costs - Asset Retirement Obligation Costs | | 29.6 |
| | 59.8 |
| | | Storm Related Costs | | 25.9 |
| | 18.2 |
| | | Environmental Control Projects | | 24.1 |
| | — |
| | | Cook Plant Turbine | | 12.8 |
| | 9.7 |
| | | Peak Demand Reduction/Energy Efficiency | | 0.2 |
| | 13.1 |
| | | Other Regulatory Assets Pending Final Regulatory Approval | | 29.1 |
| | 22.0 |
| | | Total Regulatory Assets Pending Final Regulatory Approval (b) | | 450.1 |
| | 167.9 |
| | | | | | | | | | Regulatory assets approved for recovery: | | | | | | | | | | | | | | Regulatory Assets Currently Earning a Return | | | | | | | Plant Retirement Costs - Unrecovered Plant | | 550.6 |
| | 539.3 |
| | 28 years | Ohio Phase-In Recovery Rider | | 218.9 |
| | 304.5 |
| | 2 years | Ohio Capacity Deferral | | 201.9 |
| | 358.7 |
| | 2 years | Meter Replacement Costs | | 99.9 |
| | 90.4 |
| | 11 years | Ohio Distribution Decoupling | | 41.8 |
| | 37.5 |
| | 2 years | Advanced Metering System | | 20.9 |
| | 3.6 |
| | 4 years | Basic Transmission Cost Rider | | 19.9 |
| | — |
| | 2 years | West Virginia Delayed Customer Billing | | 19.5 |
| | — |
| | 2 years | Asset Removal Costs | | 18.7 |
| | 38.1 |
| | (a) | Mitchell Plant Transfer | | 18.5 |
| | 19.3 |
| | 24 years | Plant Retirement Costs - Asset Retirement Obligation Costs | | 18.3 |
| | 7.6 |
| | 24 years | Storm Related Costs | | 15.3 |
| | 8.8 |
| | 3 years | Red Rock Generating Facility | | 9.1 |
| | 9.3 |
| | 40 years | Ohio Transmission Cost Recovery Rider | | — |
| | 12.3 |
| |
| Other Regulatory Assets Approved for Recovery | | 27.6 |
| | 25.5 |
| | various | Regulatory Assets Currently Not Earning a Return | | | | | | | Income Taxes, Net (c) | | 1,575.0 |
| | 1,385.3 |
| | 62 years | Pension and OPEB Funded Status | | 1,516.2 |
| | 1,410.5 |
| | 12 years | Unamortized Loss on Reacquired Debt | | 137.8 |
| | 148.7 |
| | 29 years | Unrealized Loss on Forward Commitments | | 119.1 |
| | 10.7 |
| | 16 years | Cook Plant Nuclear Refueling Outage Levelization | | 75.2 |
| | 26.8 |
| | 3 years | Storm Related Costs | | 58.7 |
| | 94.6 |
| | 4 years | Peak Demand Reduction/Energy Efficiency | | 49.9 |
| | 33.3 |
| | 5 years | Plant Retirement Costs - Asset Retirement Obligation Costs | | 48.9 |
| | 58.0 |
| | 24 years | Postemployment Benefits | | 39.1 |
| | 42.6 |
| | 5 years | Virginia Transmission Rate Adjustment Clause | | 38.7 |
| | 74.6 |
| | 2 years | Medicare Subsidy | | 37.2 |
| | 41.8 |
| | 8 years | Vegetation Management | | 31.4 |
| | 36.9 |
| | 5 years | Off-system Sales Margin Sharing - Indiana | | 24.3 |
| | 6.8 |
| | 2 years | OVEC Purchased Power | | 22.1 |
| | — |
| | 2 years |
| | | | | | | | | | | | United Mine Workers of America Pension Withdrawal | | 20.2 |
| | 14.4 |
| | 6 years | Deferred System Reliability Rider Expenses | | 12.5 |
| | 9.9 |
| | 1 year | SPP Base Plan Fees | | 10.7 |
| | — |
| | 2 years | Carbon Capture and Storage Product Validation Facility | | 9.1 |
| | 11.7 |
| | 4 years | IGCC Pre-Construction Costs | | 8.6 |
| | 10.9 |
| | 24 years | Transmission Cost Recovery Factor | | 5.3 |
| | 9.9 |
| | 1 year | Distribution Investment Rider | | 2.0 |
| | 12.3 |
| | 2 years | Other Regulatory Assets Approved for Recovery | | 52.5 |
| | 77.8 |
| | various | Total Regulatory Assets Approved for Recovery | | 5,175.4 |
| | 4,972.4 |
| | | | | | | | | | Total Noncurrent Regulatory Assets | | $ | 5,625.5 |
| | $ | 5,140.3 |
| | |
| | (a) | As a regulated entity, removal costs accrued are typically recorded as regulatory liabilities when removal costs accrued exceed actual removal costs incurred. The asset removal costs liability is relieved as removal costs are incurred. As of December 31, 2016, KPCo’s accumulated actual removal cost incurred exceeded accumulated removal cost accrued, creating an asset balance. As a result, the balance was reclassified to a regulatory asset. Within the next two years, KPCo’s removal costs accrued are expected to exceed removal costs incurred resulting in a regulatory liability. |
| | (b) | As of December 31, 2016, APCo has deferred a total of $91 million as charges to accumulated depreciation related to certain plant retirements in 2015. APCo intends to address the need for depreciation rate increases in a subsequent base rate cases. |
| | (c) | Includes $320 million and $288 million as of December 31, 2016 and 2015, respectively, expected to be recovered in formula rates. |
| | | | | | | | | | | | | | AEP | | | December 31, | | Remaining | | | 2016 | | 2015 | | Refund Period | Current Regulatory Liabilities | | (in millions) | | | Over-recovered Fuel Costs - pays a return | | $ | 3.8 |
| | $ | 84.8 |
| | 1 year | Over-recovered Fuel Costs - does not pay a return | | 4.2 |
| | 29.1 |
| | 1 year | Total Current Regulatory Liabilities | | $ | 8.0 |
| | $ | 113.9 |
| | | | | | | | | | Noncurrent Regulatory Liabilities and Deferred Investment Tax Credits | | | | | | | Regulatory liabilities pending final regulatory determination: | | | | | | | | | | | | | | Regulatory Liabilities Currently Not Paying a Return | | | | | | | Provision for Regulatory Loss | | $ | — |
| | $ | 40.6 |
| | | Other Regulatory Liabilities Pending Final Regulatory Determination | | 0.8 |
| | 0.2 |
| | | Total Regulatory Liabilities Pending Final Regulatory Determination | | 0.8 |
| | 40.8 |
| | | | | | | | | | Regulatory liabilities approved for payment: | | | | | | | | | | | | | | Regulatory Liabilities Currently Paying a Return | | | | | | | Asset Removal Costs (a) | | 2,627.5 |
| | 2,656.5 |
| | (b) | Advanced Metering Infrastructure Surcharge | | 17.0 |
| | 21.2 |
| | 4 years | Louisiana Refundable Construction Financing Costs | | 16.2 |
| | 37.4 |
| | 2 years | Deferred Investment Tax Credits | | 12.6 |
| | 14.7 |
| | 42 years | Excess Earnings | | 10.0 |
| | 10.6 |
| | 37 years | Other Regulatory Liabilities Approved for Payment | | 1.6 |
| | 20.5 |
| | various | Regulatory Liabilities Currently Not Paying a Return | | | | | | | Excess Nuclear Decommissioning Funding | | 731.2 |
| | 636.5 |
| | (c) | Deferred Investment Tax Credits | | 132.9 |
| | 113.3 |
| | 46 years | Spent Nuclear Fuel | | 44.2 |
| | 43.4 |
| | (c) | Transition Charges | | 40.5 |
| | 46.5 |
| | 11 years | Peak Demand Reduction/Energy Efficiency | | 34.0 |
| | 5.3 |
| | 2 years | Enhanced Service Reliability Plan | | 21.7 |
| | 8.0 |
| | 2 years | gridSMART® Costs | | 11.9 |
| | — |
| | 2 years | Advanced Metering Costs | | 11.5 |
| | 11.4 |
| | 1 year | Unrealized Gain on Forward Commitments | | 6.2 |
| | 33.8 |
| | 2 years | Deferred Wind Power Costs | | 2.1 |
| | 11.8 |
| | 1 year | Other Regulatory Liabilities Approved for Payment | | 29.4 |
| | 24.4 |
| | various | Total Regulatory Liabilities Approved for Payment | | 3,750.5 |
| | 3,695.3 |
| | | | | | | | | | Total Noncurrent Regulatory Liabilities and Deferred Investment Tax Credits | | $ | 3,751.3 |
| | $ | 3,736.1 |
| | |
| | (a) | As of December 31, 2016, I&M also charged $43 million to asset removal costs related to various Tanners Creek Plant related assets, primarily related to the net book value of ARO assets. The Indiana and Michigan retail jurisdictions of I&M have increased depreciation rates on Rockport Plant to recover the net book value of Tanners Creek Plant that was retired in 2015. I&M intends to address the need for increases in depreciation rates to recover the deferral in its next Indiana and Michigan base rate cases. |
| | (b) | Relieved as removal costs are incurred. |
| | (c) | Relieved when plant is decommissioned. |
| | | | | | | | | | | | | | APCo | | | December 31, | | Remaining Recovery Period | Regulatory Assets: | | 2016 | | 2015 | | | | (in millions) | | | Current Regulatory Assets | | | | | | | Under-recovered Fuel Costs - earns a return | | $ | 6.2 |
| | $ | 27.3 |
| | 1 year | Under-recovered Fuel Costs - does not earn a return | | 62.2 |
| | 59.6 |
| | 1 year | Total Current Regulatory Assets | | $ | 68.4 |
| | $ | 86.9 |
| | | | | | | | | | Noncurrent Regulatory Assets | | | | | | | Regulatory assets pending final regulatory approval: | | | | | | | | | | | | | | Regulatory Assets Currently Earning a Return | | | | | | | Plant Retirement Costs - Materials and Supplies | | $ | 9.1 |
| | $ | 9.3 |
| | | Regulatory Assets Currently Not Earning a Return | | | | | | | Plant Retirement Costs - Asset Retirement Obligation Costs | | 29.6 |
| | 32.7 |
| | | Peak Demand Reduction/Energy Efficiency - Virginia | | — |
| | 12.7 |
| | | Amos Plant Transfer Costs - West Virginia | | — |
| | 2.0 |
| | | Other Regulatory Assets Pending Final Regulatory Approval | | 0.6 |
| | 0.6 |
| | | Total Regulatory Assets Pending Final Regulatory Approval (a) | | 39.3 |
| | 57.3 |
| | | | | | | | | | Regulatory assets approved for recovery: | | | | | | | | | | | | | | Regulatory Assets Currently Earning a Return | | | | | | | Plant Retirement Costs - Unrecovered Plant - West Virginia | | 85.4 |
| | 86.5 |
| | 27 years | West Virginia Delayed Customer Billing | | 18.1 |
| | — |
| | 2 years | Storm Related Costs - Virginia | | 4.6 |
| | 8.8 |
| | 2 years | RTO Formation/Integration Costs | | 1.6 |
| | 2.1 |
| | 3 years | Other Regulatory Assets Approved for Recovery | | 0.6 |
| | — |
| | various | Regulatory Assets Currently Not Earning a Return | | | | | | | Income Taxes, Net (b) | | 463.5 |
| | 441.7 |
| | 26 years | Pension and OPEB Funded Status | | 221.4 |
| | 217.6 |
| | 12 years | Unamortized Loss on Reacquired Debt | | 97.2 |
| | 101.5 |
| | 29 years | Storm Related Costs - West Virginia | | 47.8 |
| | 63.5 |
| | 4 years | Virginia Transmission Rate Adjustment Clause | | 38.7 |
| | 74.6 |
| | 2 years | Vegetation Management Program - West Virginia | | 31.4 |
| | 31.2 |
| | 5 years | Peak Demand Reduction/Energy Efficiency | | 19.2 |
| | 3.5 |
| | 4 years | Postemployment Benefits | | 17.4 |
| | 19.6 |
| | 5 years | Carbon Capture and Storage Product Validation Facility - West Virginia, FERC | | 9.1 |
| | 11.7 |
| | 4 years | IGCC Pre-Construction Costs - West Virginia, FERC | | 7.4 |
| | 9.6 |
| | 4 years | Virginia Generation Rate Adjustment Clause | | 6.5 |
| | 5.2 |
| | 2 years | Medicare Subsidy - West Virginia, FERC | | 4.7 |
| | 5.3 |
| | 8 years | Uncollected Accounts - West Virginia | | 2.7 |
| | 3.5 |
| | 4 years | Deferred Restructuring Costs - West Virginia | | 2.5 |
| | 4.5 |
| | 2 years | Carbon Capture and Storage Commercial Scale Facility - West Virginia, FERC | | 1.0 |
| | 1.2 |
| | 6 years | Asset Retirement Obligation | | 0.6 |
| | 2.4 |
| | 1 year | Transmission Agreement Phase-In - West Virginia | | — |
| | 1.7 |
| |
| Other Regulatory Assets Approved for Recovery | | 0.4 |
| | 1.2 |
| | various | Total Regulatory Assets Approved for Recovery | | 1,081.8 |
| | 1,096.9 |
| | | | | | | | | | Total Noncurrent Regulatory Assets | | $ | 1,121.1 |
| | $ | 1,154.2 |
| | |
| | (a) | As of December 31, 2016, APCo has also deferred $91 million as a charge to accumulated depreciation related to the net book value of certain plants retired in 2015, primarily in its Virginia jurisdiction. These plants were normal retirements and not abandonments. APCo intends to address the need for an increase in its Virginia depreciation rates in March 2020, as part of its 2018-2019 Virginia biennial filing. |
| | (b) | Includes $64 million and $59 million as of December 31, 2016 and 2015, respectively, expected to be recovered in formula rates. |
| | | | | | | | | | | | | | APCo | | | December 31, | | Remaining Refund Period | Regulatory Liabilities: | | 2016 | | 2015 | | | | (in millions) | | | Noncurrent Regulatory Liabilities and Deferred Investment Tax Credits | | | | | | | Regulatory liabilities approved for payment: | | | | | | | | | | | | | | Regulatory Liabilities Currently Paying a Return | | | | | | | Asset Removal Costs | | $ | 616.9 |
| | $ | 612.9 |
| | (a) | Deferred Investment Tax Credits | | 0.9 |
| | 1.0 |
| | 42 years | Regulatory Liabilities Currently Not Paying a Return | | | | | | | Consumer Rate Relief - West Virginia | | 5.1 |
| | 2.9 |
| | 1 year | Deferred Wind Power Costs - Virginia | | 2.1 |
| | 11.8 |
| | 1 year | Energy Efficiency Rate Adjustment Clause - Virginia | | 1.5 |
| | — |
| | 2 years | Unrealized Gain on Forward Commitments | | 1.3 |
| | 8.4 |
| | 2 years | Other Regulatory Liabilities Approved for Payment | | — |
| | 0.1 |
| | various | Total Regulatory Liabilities Approved for Payment | | 627.8 |
| | 637.1 |
| | | | | | | | | | Total Noncurrent Regulatory Liabilities and Deferred Investment Tax Credits | | $ | 627.8 |
| | $ | 637.1 |
| | |
| | (a) | Relieved as removal costs are incurred. |
| | | | | | | | | | | | | | I&M | | | December 31, | | Remaining Recovery Period | Regulatory Assets: | | 2016 | | 2015 | | | | (in millions) | | | Current Regulatory Assets | | | | | | | Under-recovered Fuel Costs - earns a return | | $ | 13.0 |
| | $ | 7.5 |
| | 1 year | Under-recovered Fuel Costs - does not earn a return | | 13.1 |
| | 4.1 |
| | 1 year | Total Current Regulatory Assets | | $ | 26.1 |
| | $ | 11.6 |
| | | | | | | | | | Noncurrent Regulatory Assets | | | | | | | Regulatory assets pending final regulatory approval: | | | | | | | | | | | | | | Regulatory Assets Currently Earning a Return | | | | | | | Plant Retirement Costs - Materials and Supplies | | $ | — |
| | $ | 11.6 |
| | | Regulatory Assets Currently Not Earning a Return | | | | | | | Cook Uprate Project | | 36.3 |
| | — |
| | | Cook Plant Turbine | | 12.8 |
| | 9.7 |
| | | Deferred Cook Plant Life Cycle Management Project Costs - Michigan | | 8.1 |
| | 4.2 |
| | | Rockport Plant Dry Sorbent Injection System - Indiana | | 6.6 |
| | 2.8 |
| | | Plant Retirement Costs - Asset Retirement Obligation Costs - Indiana | | — |
| | 27.1 |
| | | Stranded Costs on Abandoned Plants | | — |
| | 3.9 |
| | | Other Regulatory Assets Pending Final Regulatory Approval | | 0.9 |
| | — |
| | | Total Regulatory Assets Pending Final Regulatory Approval | | 64.7 |
| | 59.3 |
| | | | | | | | | | Regulatory assets approved for recovery: | | | | | | | | | | | | | | Regulatory Assets Currently Earning a Return | | | | | | | Plant Retirement Costs - Unrecovered Plant | | 252.8 |
| | 260.3 |
| | 28 years | Cook Plant, Unit 2 Baffle Bolts - Indiana | | 6.3 |
| | 6.6 |
| | 22 years | RTO Formation/Integration Costs | | 1.2 |
| | 1.5 |
| | 3 years | Other Regulatory Assets Approved for Recovery | | 1.3 |
| | 1.0 |
| | various | Regulatory Assets Currently Not Earning a Return | | | | | | | Income Taxes, Net (a) | | 302.6 |
| | 246.8 |
| | 32 years | Pension and OPEB Funded Status | | 141.9 |
| | 126.4 |
| | 12 years | Cook Plant Nuclear Refueling Outage Levelization | | 75.2 |
| | 26.8 |
| | 3 years | Off-system Sales Margin Sharing - Indiana | | 24.3 |
| | 6.8 |
| | 2 years | Postemployment Benefits | | 11.4 |
| | 10.7 |
| | 5 years | Unamortized Loss on Reacquired Debt | | 10.7 |
| | 12.0 |
| | 16 years | Medicare Subsidy | | 8.2 |
| | 9.2 |
| | 8 years | Litigation Settlement - Indiana | | 7.6 |
| | 8.6 |
| | 9 years | River Transportation Division Expenses | | 3.7 |
| | — |
| | 1 year | Peak Demand Reduction/Energy Efficiency | | 3.6 |
| | 10.6 |
| | 2 years | Capacity Costs - Indiana | | 0.4 |
| | 7.5 |
| | 1 year | Unrealized Loss on Forward Commitments | | 0.1 |
| | 3.2 |
| | 2 years | PJM Expense - Indiana | | — |
| | 4.1 |
| |
| Storm Related Costs - Indiana | | — |
| | 1.8 |
| |
| Other Regulatory Assets Approved for Recovery | | 0.6 |
| | 1.1 |
| | various | Total Regulatory Assets Approved for Recovery | | 851.9 |
| | 745.0 |
| | | | | | | | | | Total Noncurrent Regulatory Assets | | $ | 916.6 |
| | $ | 804.3 |
| | |
| | (a) | Includes $74 million and $69 million as of December 31, 2016 and 2015, respectively, expected to be recovered in formula rates. |
| | | | | | | | | | | | | | I&M | | | December 31, | | Remaining Refund Period | Regulatory Liabilities: | | 2016 | | 2015 | | | | (in millions) | | | Current Regulatory Liabilities | | | | | | | Over-recovered Fuel Costs - pays a return | | $ | — |
| | $ | 0.3 |
| |
| Total Current Regulatory Liabilities | | $ | — |
| | $ | 0.3 |
| | | | | | | | | | Noncurrent Regulatory Liabilities and Deferred Investment Tax Credits | | | | | | | Regulatory liabilities approved for payment: | | | | | | | | | | | | | | Regulatory Liabilities Currently Paying a Return | | | | | | | Asset Removal Costs (a) | | $ | 236.5 |
| | $ | 350.6 |
| | (b) | Regulatory Liabilities Currently Not Paying a Return | | | | | | | Excess Nuclear Decommissioning Funding | | 731.2 |
| | 636.5 |
| | (c) | Spent Nuclear Fuel | | 44.2 |
| | 43.4 |
| | (c) | Deferred Investment Tax Credits | | 38.8 |
| | 35.0 |
| | 20 years | Deferred Cook Plant Life Cycle Management Project Costs - Indiana | | 4.6 |
| | — |
| | 3 years | PJM Expense - Indiana | | 4.2 |
| | — |
| | 2 years | Unrealized Gain on Forward Commitments | | 2.4 |
| | 7.1 |
| | 2 years | Rockport Plant Dry Sorbent Injection | | 1.7 |
| | 0.4 |
| | 2 years | Storm Related Costs - Indiana | | 1.2 |
| | — |
| | 1 year | River Transportation Division Expenses | | — |
| | 1.9 |
| |
| Other Regulatory Liabilities Approved for Payment | | 0.7 |
| | 1.3 |
| | various | Total Regulatory Liabilities Approved for Payment | | 1,065.5 |
| | 1,076.2 |
| | | | | | | | | | Total Noncurrent Regulatory Liabilities and Deferred Investment Tax Credits | | $ | 1,065.5 |
| | $ | 1,076.2 |
| | |
| | (a) | As of December 31, 2016, I&M has charged $43 million to asset removal costs related to various Tanners Creek Plant related assets, primarily related to the net book value of ARO assets. The Indiana and Michigan retail jurisdictions of I&M have increased depreciation rates on Rockport Plant to recover the net book value of Tanners Creek Plant that was retired in 2015. I&M intends to address the need for increases in depreciation rates to recover the deferral in its next Indiana and Michigan base rate cases. |
| | (b) | Relieved as removal costs are incurred. |
| | (c) | Relieved when plant is decommissioned. |
| | | | | | | | | | | | | | OPCo | | | December 31, | | Remaining Recovery Period | Regulatory Assets: | | 2016 |
| 2015 | | | | (in millions) | | | Noncurrent Regulatory Assets | | | | | | | Regulatory assets pending final regulatory approval: | | | | | | | | | | | | | | Regulatory Assets Currently Earning a Return | | | | | | | Capacity Deferral | | $ | 96.7 |
| | $ | — |
| | | Regulatory Assets Currently Not Earning a Return | | | | | | | gridSMART® Costs | | 4.1 |
| | 1.3 |
| | | Total Regulatory Assets Pending Final Regulatory Approval | | 100.8 |
| | 1.3 |
| | | | | | | | | | Regulatory assets approved for recovery: | | | | | | | | | | | | | | Regulatory Assets Currently Earning a Return | | | | | | | Phase-In Recovery Rider | | 218.9 |
| | 304.5 |
| | 2 years | Capacity Deferral | | 201.9 |
| | 358.7 |
| | 2 years | Distribution Decoupling | | 41.8 |
| | 37.5 |
| | 2 years | Basic Transmission Cost Rider | | 19.9 |
| | — |
| | 2 years | RTO Formation/Integration Costs | | 2.5 |
| | 3.1 |
| | 3 years | Economic Development Rider | | 1.7 |
| | — |
| | 2 years | Transmission Cost Recovery Rider | | — |
| | 12.3 |
| |
| Regulatory Assets Currently Not Earning a Return | | | | | | | Pension and OPEB Funded Status | | 225.2 |
| | 219.4 |
| | 12 years | Income Taxes, Net (a) | | 126.4 |
| | 129.0 |
| | 28 years | Unrealized Loss on Forward Commitments | | 118.6 |
| | — |
| | 16 years | OVEC Purchased Power | | 22.1 |
| | — |
| | 2 years | Unamortized Loss on Reacquired Debt | | 9.1 |
| | 10.4 |
| | 22 years | Medicare Subsidy | | 8.3 |
| | 9.3 |
| | 8 years | Postemployment Benefits | | 6.8 |
| | 7.3 |
| | 5 years | Distribution Investment Rider | | 2.0 |
| | 12.3 |
| | 2 years | Partnership with Ohio Contribution | | 1.4 |
| | 2.4 |
| | 2 years | gridSMART® Costs | | — |
| | 4.5 |
| |
| Other Regulatory Assets Approved for Recovery | | 0.1 |
| | 1.0 |
| | various | Total Regulatory Assets Approved for Recovery | | 1,006.7 |
| | 1,111.7 |
| | | | | | | | | | Total Noncurrent Regulatory Assets | | $ | 1,107.5 |
| | $ | 1,113.0 |
| | |
| | (a) | Includes $76 million and $82 million as of December 31, 2016 and 2015, respectively, expected to be recovered in formula rates. |
| | | | | | | | | | | | | | OPCo | | | December 31, | | Remaining Refund Period | | | 2016 | | 2015 | | Regulatory Liabilities: | | (in millions) | | | | | | | | | | Current Regulatory Liabilities | | | | | | | Over-recovered Fuel Costs - does not pay a return | | $ | 4.2 |
| | $ | 27.6 |
| | 1 year | Total Current Regulatory Liabilities | | $ | 4.2 |
| | $ | 27.6 |
| | | | | | | | | | Noncurrent Regulatory Liabilities and Deferred Investment Tax Credits | | | | | | | Regulatory liabilities pending final regulatory determination: | | | | | | | | | | | | | | Regulatory Liabilities Currently Not Paying a Return | | | | | | | Provision for Regulatory Loss | | $ | — |
| | $ | 40.6 |
| | | Other Regulatory Liabilities Pending Final Regulatory Determination | | 0.2 |
| | 0.2 |
| | | Total Regulatory Liabilities Pending Final Regulatory Determination | | 0.2 |
| | 40.8 |
| | | | | | | | | | Regulatory liabilities approved for payment: | | | | | | | | | | | | | | Regulatory Liabilities Currently Paying a Return | | | | | | | Asset Removal Costs | | 432.4 |
| | 422.3 |
| | (a) | Basic Transmission Cost Rider | | 0.3 |
| | 4.9 |
| | 2 years | Economic Development Rider | | — |
| | 5.0 |
| |
| Regulatory Liabilities Currently Not Paying a Return | | | | | | | Peak Demand Reduction/Energy Efficiency | | 29.0 |
| | 1.5 |
| | 2 years | Enhanced Service Reliability Plan | | 21.7 |
| | 8.0 |
| | 2 years | gridSMART® Costs | | 11.9 |
| | — |
| | 2 years | Storm Related Costs | | 5.3 |
| | 1.3 |
| | 2 years | Deferred Asset Phase-In Rider | | 4.5 |
| | 5.1 |
| | 4 years | Unrealized Gain on Forward Commitments | | — |
| | 15.3 |
| |
| Regulatory Settlement | | — |
| | 9.0 |
| |
| Other Regulatory Liabilities Approved for Payment | | 0.9 |
| | 1.0 |
| | various | Total Regulatory Liabilities Approved for Payment | | 506.0 |
| | 473.4 |
| | | | | | | | | | Total Noncurrent Regulatory Liabilities and Deferred Investment Tax Credits | | $ | 506.2 |
| | $ | 514.2 |
| | |
(a) Relieved as removal costs are incurred. | | | | | | | | | | | | | | PSO | | | December 31, | | Remaining Recovery Period | | | 2016 | | 2015 | | Regulatory Assets: | | (in millions) | | | | | | | | | | Current Regulatory Assets | | | | | | | Under-recovered Fuel Costs - earns a return | | $ | 33.8 |
| | $ | — |
| | 1 year | Total Current Regulatory Assets | | $ | 33.8 |
| | $ | — |
| | | | | | | | | | Noncurrent Regulatory Assets | | | | | | | Regulatory assets pending final regulatory approval: | | | | | | | | | | | | | | Regulatory Assets Currently Earning a Return | | | | | | | Plant Retirement Costs - Unrecovered Plant | | $ | 84.5 |
| | $ | — |
| | | Other Regulatory Assets Pending Final Regulatory Approval | | 0.5 |
| | — |
| | | Regulatory Assets Currently Not Earning a Return | | | | | | | Storm Related Costs | | 20.0 |
| | 12.3 |
| | | Environmental Control Projects | | 13.1 |
| | — |
| | | Other Regulatory Assets Pending Final Regulatory Approval | | — |
| | 1.1 |
| | | Total Regulatory Assets Pending Final Regulatory Approval | | 118.1 |
| | 13.4 |
| | | | | | | | | | Regulatory assets approved for recovery: | | | | | | | | | | | | | | Regulatory Assets Currently Earning a Return | | | | | | | Meter Replacement Costs | | 50.1 |
| | 35.8 |
| | 8 years | Storm Related Costs | | 10.8 |
| | — |
| | 3 years | Red Rock Generating Facility | | 9.1 |
| | 9.3 |
| | 40 years | Regulatory Assets Currently Not Earning a Return | | | | | | | Pension and OPEB Funded Status | | 98.1 |
| | 95.1 |
| | 12 years | Deferred System Reliability Rider Expenses | | 12.5 |
| | 9.9 |
| | 1 year | Storm Related Costs | | — |
| | 15.4 |
| | | SPP Base Plan Fees | | 10.7 |
| | — |
| | 2 years | Peak Demand Reduction/Energy Efficiency | | 10.3 |
| | 11.8 |
| | 2 years | Income Taxes, Net | | 9.3 |
| | 6.1 |
| | 33 years | Unamortized Loss on Reacquired Debt | | 5.8 |
| | 6.8 |
| | 16 years | Medicare Subsidy | | 3.9 |
| | 4.4 |
| | 8 years | Rate Case Expenses | | 1.4 |
| | 1.2 |
| | 1 year | Vegetation Management | | — |
| | 4.5 |
| |
| Other Regulatory Assets Approved for Recovery | | 0.1 |
| | 1.1 |
| | various | Total Regulatory Assets Approved for Recovery | | 222.1 |
| | 201.4 |
| | | | | | | | | | Total Noncurrent Regulatory Assets | | $ | 340.2 |
| | $ | 214.8 |
| | |
| | | | | | | | | | | | | | PSO | | | December 31, | | Remaining Refund Period | | | 2016 | | 2015 | | Regulatory Liabilities: | | (in millions) | | | | | | | | | | Current Regulatory Liabilities | | | | | | | Over-recovered Fuel Costs - pays a return | | $ | — |
| | $ | 76.1 |
| |
| Total Current Regulatory Liabilities | | $ | — |
| | $ | 76.1 |
| | | | | | | | | | Noncurrent Regulatory Liabilities and Deferred Investment Tax Credits | | | | | | | Regulatory liabilities approved for payment: | | | | | | | | | | | | | | Regulatory Liabilities Currently Paying a Return | | | | | | | Asset Removal Costs | | $ | 279.3 |
| | $ | 275.5 |
| | (a) | Regulatory Liabilities Currently Not Paying a Return | | | | | | | Deferred Investment Tax Credits | | 48.0 |
| | 46.3 |
| | 38 years | Advanced Metering Costs | | 11.5 |
| | 11.4 |
| | 1 year | Base Plan Funding Costs | | — |
| | 1.3 |
| |
| Other Regulatory Liabilities Approved for Payment | | 0.9 |
| | 0.6 |
| | various | Total Regulatory Liabilities Approved for Payment | | 339.7 |
| | 335.1 |
| | | | | | | | | | Total Noncurrent Regulatory Liabilities and Deferred Investment Tax Credits | | $ | 339.7 |
| | $ | 335.1 |
| | |
| | (a) | Relieved as removal costs are incurred. |
| | | | | | | | | | | | | | SWEPCo | | | December 31, | | Remaining Recovery Period | | | 2016 | | 2015 | | Regulatory Assets: | | (in millions) | | | | | | | | | | Current Regulatory Assets | | | | | | | Under-recovered Fuel Costs - earns a return | | $ | 8.4 |
| | $ | 4.1 |
| | 1 year | Total Current Regulatory Assets | | $ | 8.4 |
| | $ | 4.1 |
| | | | | | | | | | Noncurrent Regulatory Assets | | | | | | | Regulatory assets pending final regulatory approval: | | | | | | | | | | | | | | Regulatory Assets Currently Earning a Return | | | | | | | Plant Retirement Costs - Unrecovered Plant | | $ | 75.4 |
| | $ | — |
| | | Other Regulatory Assets Pending Final Regulatory Approval | | 0.8 |
| | — |
| | | Regulatory Assets Currently Not Earning a Return | | | | | | | Environmental Controls Projects | | 11.0 |
| | — |
| | | Shipe Road Transmission Project - FERC | | 3.1 |
| | 3.1 |
| | | Asset Retirement Obligation - Arkansas, Louisiana | | 2.7 |
| | 1.7 |
| | | Rate Case Expense - Texas | | 1.0 |
| | 0.3 |
| | | Other Regulatory Assets Pending Final Regulatory Approval | | 1.9 |
| | 0.8 |
| | | Total Regulatory Assets Pending Final Regulatory Approval | | 95.9 |
| | 5.9 |
| | | | | | | | | | Regulatory assets approved for recovery: | | | | | | | | | | | | | | Regulatory Assets Currently Earning a Return | | | | | | | Other Regulatory Assets Approved for Recovery | | 1.3 |
| | 0.2 |
| | various | Regulatory Assets Currently Not Earning a Return | | | | | | | Income Taxes, Net | | 314.2 |
| | 271.9 |
| | 34 years | Pension and OPEB Funded Status | | 119.8 |
| | 108.9 |
| | 12 years | Unamortized Loss on Reacquired Debt | | 5.4 |
| | 6.0 |
| | 27 years | Medicare Subsidy | | 4.3 |
| | 4.8 |
| | 8 years | Rate Case Expense - Texas | | 4.2 |
| | 6.8 |
| | 2 years | Peak Demand Reduction/Energy Efficiency | | 3.0 |
| | 1.0 |
| | 2 years | Deferred Restructuring Costs - Louisiana | | 1.9 |
| | 3.5 |
| | 2 years | Unrealized Loss on Forward Commitments | | 0.3 |
| | 5.5 |
| | 1 year | Other Regulatory Assets Approved for Recovery | | 0.9 |
| | 1.3 |
| | various | Total Regulatory Assets Approved for Recovery | | 455.3 |
| | 409.9 |
| | | | | | | | | | Total Noncurrent Regulatory Assets | | $ | 551.2 |
| | $ | 415.8 |
| | |
| | | | | | | | | | | | | | SWEPCo | | | December 31, | | Remaining Refund Period | | | 2016 | | 2015 | | Regulatory Liabilities: | | (in millions) | | | | | | | | | | Current Regulatory Liabilities | | | | | | | Over-recovered Fuel Costs - pays a return | | $ | 3.8 |
| | $ | 8.4 |
| | 1 year | Total Current Regulatory Liabilities | | $ | 3.8 |
| | $ | 8.4 |
| | | | | | | | | | Noncurrent Regulatory Liabilities and Deferred Investment Tax Credits | | | | | | | Regulatory liabilities approved for payment: | | | | | | | | | | | | | | Regulatory Liabilities Currently Paying a Return | | | | | | | Asset Removal Costs | | $ | 409.7 |
| | $ | 396.8 |
| | (a) | Refundable Construction Financing Costs - Louisiana | | 16.2 |
| | 37.4 |
| | 2 years | Excess Earnings - Texas | | 2.7 |
| | 2.7 |
| | 37 years | Generation Recovery Rider Costs - Arkansas | | 1.2 |
| | 1.5 |
| | 2 years | Regulatory Liabilities Currently Not Paying a Return | | | | | | | Deferred Investment Tax Credits | | 7.3 |
| | 8.5 |
| | 14 years | Other Regulatory Liabilities Approved for Payment | | 1.8 |
| | 1.9 |
| | various | Total Regulatory Liabilities Approved for Payment | | 438.9 |
| | 448.8 |
| | | | | | | | | | Total Noncurrent Regulatory Liabilities and Deferred Investment Tax Credits | | $ | 438.9 |
| | $ | 448.8 |
| | |
| | (a) | Relieved as removal costs are incurred. |
|
Ohio Power Co [Member] |
|
Effects of Regulation |
EFFECTS OF REGULATION
The disclosures in this note apply to all Registrants unless indicated otherwise.
Regulatory Assets and Liabilities
Regulatory assets and liabilities are comprised of the following items: | | | | | | | | | | | | | | AEP | | | December 31, | | Remaining Recovery Period | | | 2016 | | 2015 | | Current Regulatory Assets | | (in millions) | | | Under-recovered Fuel Costs - earns a return | | $ | 61.4 |
| | $ | 38.9 |
| | 1 year | Under-recovered Fuel Costs - does not earn a return | | 95.2 |
| | 76.3 |
| | 1 year | Total Current Regulatory Assets | | $ | 156.6 |
| | $ | 115.2 |
| | | | | | | | | | Noncurrent Regulatory Assets | | | | | | | Regulatory assets pending final regulatory approval: | | | | | | | | | | | | | | Regulatory Assets Currently Earning a Return | | | | | | | Plant Retirement Costs - Unrecovered Plant | | $ | 159.9 |
| | $ | — |
| | | Ohio Capacity Deferral | | 96.7 |
| | — |
| | | Storm Related Costs | | 25.1 |
| | 24.2 |
| | | Plant Retirement Costs - Materials and Supplies | | 9.1 |
| | 20.9 |
| | | Other Regulatory Assets Pending Final Regulatory Approval | | 1.3 |
| | — |
| | | Regulatory Assets Currently Not Earning a Return | | | | | | | Cook Plant Uprate Project | | 36.3 |
| | — |
| | | Plant Retirement Costs - Asset Retirement Obligation Costs | | 29.6 |
| | 59.8 |
| | | Storm Related Costs | | 25.9 |
| | 18.2 |
| | | Environmental Control Projects | | 24.1 |
| | — |
| | | Cook Plant Turbine | | 12.8 |
| | 9.7 |
| | | Peak Demand Reduction/Energy Efficiency | | 0.2 |
| | 13.1 |
| | | Other Regulatory Assets Pending Final Regulatory Approval | | 29.1 |
| | 22.0 |
| | | Total Regulatory Assets Pending Final Regulatory Approval (b) | | 450.1 |
| | 167.9 |
| | | | | | | | | | Regulatory assets approved for recovery: | | | | | | | | | | | | | | Regulatory Assets Currently Earning a Return | | | | | | | Plant Retirement Costs - Unrecovered Plant | | 550.6 |
| | 539.3 |
| | 28 years | Ohio Phase-In Recovery Rider | | 218.9 |
| | 304.5 |
| | 2 years | Ohio Capacity Deferral | | 201.9 |
| | 358.7 |
| | 2 years | Meter Replacement Costs | | 99.9 |
| | 90.4 |
| | 11 years | Ohio Distribution Decoupling | | 41.8 |
| | 37.5 |
| | 2 years | Advanced Metering System | | 20.9 |
| | 3.6 |
| | 4 years | Basic Transmission Cost Rider | | 19.9 |
| | — |
| | 2 years | West Virginia Delayed Customer Billing | | 19.5 |
| | — |
| | 2 years | Asset Removal Costs | | 18.7 |
| | 38.1 |
| | (a) | Mitchell Plant Transfer | | 18.5 |
| | 19.3 |
| | 24 years | Plant Retirement Costs - Asset Retirement Obligation Costs | | 18.3 |
| | 7.6 |
| | 24 years | Storm Related Costs | | 15.3 |
| | 8.8 |
| | 3 years | Red Rock Generating Facility | | 9.1 |
| | 9.3 |
| | 40 years | Ohio Transmission Cost Recovery Rider | | — |
| | 12.3 |
| |
| Other Regulatory Assets Approved for Recovery | | 27.6 |
| | 25.5 |
| | various | Regulatory Assets Currently Not Earning a Return | | | | | | | Income Taxes, Net (c) | | 1,575.0 |
| | 1,385.3 |
| | 62 years | Pension and OPEB Funded Status | | 1,516.2 |
| | 1,410.5 |
| | 12 years | Unamortized Loss on Reacquired Debt | | 137.8 |
| | 148.7 |
| | 29 years | Unrealized Loss on Forward Commitments | | 119.1 |
| | 10.7 |
| | 16 years | Cook Plant Nuclear Refueling Outage Levelization | | 75.2 |
| | 26.8 |
| | 3 years | Storm Related Costs | | 58.7 |
| | 94.6 |
| | 4 years | Peak Demand Reduction/Energy Efficiency | | 49.9 |
| | 33.3 |
| | 5 years | Plant Retirement Costs - Asset Retirement Obligation Costs | | 48.9 |
| | 58.0 |
| | 24 years | Postemployment Benefits | | 39.1 |
| | 42.6 |
| | 5 years | Virginia Transmission Rate Adjustment Clause | | 38.7 |
| | 74.6 |
| | 2 years | Medicare Subsidy | | 37.2 |
| | 41.8 |
| | 8 years | Vegetation Management | | 31.4 |
| | 36.9 |
| | 5 years | Off-system Sales Margin Sharing - Indiana | | 24.3 |
| | 6.8 |
| | 2 years | OVEC Purchased Power | | 22.1 |
| | — |
| | 2 years |
| | | | | | | | | | | | United Mine Workers of America Pension Withdrawal | | 20.2 |
| | 14.4 |
| | 6 years | Deferred System Reliability Rider Expenses | | 12.5 |
| | 9.9 |
| | 1 year | SPP Base Plan Fees | | 10.7 |
| | — |
| | 2 years | Carbon Capture and Storage Product Validation Facility | | 9.1 |
| | 11.7 |
| | 4 years | IGCC Pre-Construction Costs | | 8.6 |
| | 10.9 |
| | 24 years | Transmission Cost Recovery Factor | | 5.3 |
| | 9.9 |
| | 1 year | Distribution Investment Rider | | 2.0 |
| | 12.3 |
| | 2 years | Other Regulatory Assets Approved for Recovery | | 52.5 |
| | 77.8 |
| | various | Total Regulatory Assets Approved for Recovery | | 5,175.4 |
| | 4,972.4 |
| | | | | | | | | | Total Noncurrent Regulatory Assets | | $ | 5,625.5 |
| | $ | 5,140.3 |
| | |
| | (a) | As a regulated entity, removal costs accrued are typically recorded as regulatory liabilities when removal costs accrued exceed actual removal costs incurred. The asset removal costs liability is relieved as removal costs are incurred. As of December 31, 2016, KPCo’s accumulated actual removal cost incurred exceeded accumulated removal cost accrued, creating an asset balance. As a result, the balance was reclassified to a regulatory asset. Within the next two years, KPCo’s removal costs accrued are expected to exceed removal costs incurred resulting in a regulatory liability. |
| | (b) | As of December 31, 2016, APCo has deferred a total of $91 million as charges to accumulated depreciation related to certain plant retirements in 2015. APCo intends to address the need for depreciation rate increases in a subsequent base rate cases. |
| | (c) | Includes $320 million and $288 million as of December 31, 2016 and 2015, respectively, expected to be recovered in formula rates. |
| | | | | | | | | | | | | | AEP | | | December 31, | | Remaining | | | 2016 | | 2015 | | Refund Period | Current Regulatory Liabilities | | (in millions) | | | Over-recovered Fuel Costs - pays a return | | $ | 3.8 |
| | $ | 84.8 |
| | 1 year | Over-recovered Fuel Costs - does not pay a return | | 4.2 |
| | 29.1 |
| | 1 year | Total Current Regulatory Liabilities | | $ | 8.0 |
| | $ | 113.9 |
| | | | | | | | | | Noncurrent Regulatory Liabilities and Deferred Investment Tax Credits | | | | | | | Regulatory liabilities pending final regulatory determination: | | | | | | | | | | | | | | Regulatory Liabilities Currently Not Paying a Return | | | | | | | Provision for Regulatory Loss | | $ | — |
| | $ | 40.6 |
| | | Other Regulatory Liabilities Pending Final Regulatory Determination | | 0.8 |
| | 0.2 |
| | | Total Regulatory Liabilities Pending Final Regulatory Determination | | 0.8 |
| | 40.8 |
| | | | | | | | | | Regulatory liabilities approved for payment: | | | | | | | | | | | | | | Regulatory Liabilities Currently Paying a Return | | | | | | | Asset Removal Costs (a) | | 2,627.5 |
| | 2,656.5 |
| | (b) | Advanced Metering Infrastructure Surcharge | | 17.0 |
| | 21.2 |
| | 4 years | Louisiana Refundable Construction Financing Costs | | 16.2 |
| | 37.4 |
| | 2 years | Deferred Investment Tax Credits | | 12.6 |
| | 14.7 |
| | 42 years | Excess Earnings | | 10.0 |
| | 10.6 |
| | 37 years | Other Regulatory Liabilities Approved for Payment | | 1.6 |
| | 20.5 |
| | various | Regulatory Liabilities Currently Not Paying a Return | | | | | | | Excess Nuclear Decommissioning Funding | | 731.2 |
| | 636.5 |
| | (c) | Deferred Investment Tax Credits | | 132.9 |
| | 113.3 |
| | 46 years | Spent Nuclear Fuel | | 44.2 |
| | 43.4 |
| | (c) | Transition Charges | | 40.5 |
| | 46.5 |
| | 11 years | Peak Demand Reduction/Energy Efficiency | | 34.0 |
| | 5.3 |
| | 2 years | Enhanced Service Reliability Plan | | 21.7 |
| | 8.0 |
| | 2 years | gridSMART® Costs | | 11.9 |
| | — |
| | 2 years | Advanced Metering Costs | | 11.5 |
| | 11.4 |
| | 1 year | Unrealized Gain on Forward Commitments | | 6.2 |
| | 33.8 |
| | 2 years | Deferred Wind Power Costs | | 2.1 |
| | 11.8 |
| | 1 year | Other Regulatory Liabilities Approved for Payment | | 29.4 |
| | 24.4 |
| | various | Total Regulatory Liabilities Approved for Payment | | 3,750.5 |
| | 3,695.3 |
| | | | | | | | | | Total Noncurrent Regulatory Liabilities and Deferred Investment Tax Credits | | $ | 3,751.3 |
| | $ | 3,736.1 |
| | |
| | (a) | As of December 31, 2016, I&M also charged $43 million to asset removal costs related to various Tanners Creek Plant related assets, primarily related to the net book value of ARO assets. The Indiana and Michigan retail jurisdictions of I&M have increased depreciation rates on Rockport Plant to recover the net book value of Tanners Creek Plant that was retired in 2015. I&M intends to address the need for increases in depreciation rates to recover the deferral in its next Indiana and Michigan base rate cases. |
| | (b) | Relieved as removal costs are incurred. |
| | (c) | Relieved when plant is decommissioned. |
| | | | | | | | | | | | | | APCo | | | December 31, | | Remaining Recovery Period | Regulatory Assets: | | 2016 | | 2015 | | | | (in millions) | | | Current Regulatory Assets | | | | | | | Under-recovered Fuel Costs - earns a return | | $ | 6.2 |
| | $ | 27.3 |
| | 1 year | Under-recovered Fuel Costs - does not earn a return | | 62.2 |
| | 59.6 |
| | 1 year | Total Current Regulatory Assets | | $ | 68.4 |
| | $ | 86.9 |
| | | | | | | | | | Noncurrent Regulatory Assets | | | | | | | Regulatory assets pending final regulatory approval: | | | | | | | | | | | | | | Regulatory Assets Currently Earning a Return | | | | | | | Plant Retirement Costs - Materials and Supplies | | $ | 9.1 |
| | $ | 9.3 |
| | | Regulatory Assets Currently Not Earning a Return | | | | | | | Plant Retirement Costs - Asset Retirement Obligation Costs | | 29.6 |
| | 32.7 |
| | | Peak Demand Reduction/Energy Efficiency - Virginia | | — |
| | 12.7 |
| | | Amos Plant Transfer Costs - West Virginia | | — |
| | 2.0 |
| | | Other Regulatory Assets Pending Final Regulatory Approval | | 0.6 |
| | 0.6 |
| | | Total Regulatory Assets Pending Final Regulatory Approval (a) | | 39.3 |
| | 57.3 |
| | | | | | | | | | Regulatory assets approved for recovery: | | | | | | | | | | | | | | Regulatory Assets Currently Earning a Return | | | | | | | Plant Retirement Costs - Unrecovered Plant - West Virginia | | 85.4 |
| | 86.5 |
| | 27 years | West Virginia Delayed Customer Billing | | 18.1 |
| | — |
| | 2 years | Storm Related Costs - Virginia | | 4.6 |
| | 8.8 |
| | 2 years | RTO Formation/Integration Costs | | 1.6 |
| | 2.1 |
| | 3 years | Other Regulatory Assets Approved for Recovery | | 0.6 |
| | — |
| | various | Regulatory Assets Currently Not Earning a Return | | | | | | | Income Taxes, Net (b) | | 463.5 |
| | 441.7 |
| | 26 years | Pension and OPEB Funded Status | | 221.4 |
| | 217.6 |
| | 12 years | Unamortized Loss on Reacquired Debt | | 97.2 |
| | 101.5 |
| | 29 years | Storm Related Costs - West Virginia | | 47.8 |
| | 63.5 |
| | 4 years | Virginia Transmission Rate Adjustment Clause | | 38.7 |
| | 74.6 |
| | 2 years | Vegetation Management Program - West Virginia | | 31.4 |
| | 31.2 |
| | 5 years | Peak Demand Reduction/Energy Efficiency | | 19.2 |
| | 3.5 |
| | 4 years | Postemployment Benefits | | 17.4 |
| | 19.6 |
| | 5 years | Carbon Capture and Storage Product Validation Facility - West Virginia, FERC | | 9.1 |
| | 11.7 |
| | 4 years | IGCC Pre-Construction Costs - West Virginia, FERC | | 7.4 |
| | 9.6 |
| | 4 years | Virginia Generation Rate Adjustment Clause | | 6.5 |
| | 5.2 |
| | 2 years | Medicare Subsidy - West Virginia, FERC | | 4.7 |
| | 5.3 |
| | 8 years | Uncollected Accounts - West Virginia | | 2.7 |
| | 3.5 |
| | 4 years | Deferred Restructuring Costs - West Virginia | | 2.5 |
| | 4.5 |
| | 2 years | Carbon Capture and Storage Commercial Scale Facility - West Virginia, FERC | | 1.0 |
| | 1.2 |
| | 6 years | Asset Retirement Obligation | | 0.6 |
| | 2.4 |
| | 1 year | Transmission Agreement Phase-In - West Virginia | | — |
| | 1.7 |
| |
| Other Regulatory Assets Approved for Recovery | | 0.4 |
| | 1.2 |
| | various | Total Regulatory Assets Approved for Recovery | | 1,081.8 |
| | 1,096.9 |
| | | | | | | | | | Total Noncurrent Regulatory Assets | | $ | 1,121.1 |
| | $ | 1,154.2 |
| | |
| | (a) | As of December 31, 2016, APCo has also deferred $91 million as a charge to accumulated depreciation related to the net book value of certain plants retired in 2015, primarily in its Virginia jurisdiction. These plants were normal retirements and not abandonments. APCo intends to address the need for an increase in its Virginia depreciation rates in March 2020, as part of its 2018-2019 Virginia biennial filing. |
| | (b) | Includes $64 million and $59 million as of December 31, 2016 and 2015, respectively, expected to be recovered in formula rates. |
| | | | | | | | | | | | | | APCo | | | December 31, | | Remaining Refund Period | Regulatory Liabilities: | | 2016 | | 2015 | | | | (in millions) | | | Noncurrent Regulatory Liabilities and Deferred Investment Tax Credits | | | | | | | Regulatory liabilities approved for payment: | | | | | | | | | | | | | | Regulatory Liabilities Currently Paying a Return | | | | | | | Asset Removal Costs | | $ | 616.9 |
| | $ | 612.9 |
| | (a) | Deferred Investment Tax Credits | | 0.9 |
| | 1.0 |
| | 42 years | Regulatory Liabilities Currently Not Paying a Return | | | | | | | Consumer Rate Relief - West Virginia | | 5.1 |
| | 2.9 |
| | 1 year | Deferred Wind Power Costs - Virginia | | 2.1 |
| | 11.8 |
| | 1 year | Energy Efficiency Rate Adjustment Clause - Virginia | | 1.5 |
| | — |
| | 2 years | Unrealized Gain on Forward Commitments | | 1.3 |
| | 8.4 |
| | 2 years | Other Regulatory Liabilities Approved for Payment | | — |
| | 0.1 |
| | various | Total Regulatory Liabilities Approved for Payment | | 627.8 |
| | 637.1 |
| | | | | | | | | | Total Noncurrent Regulatory Liabilities and Deferred Investment Tax Credits | | $ | 627.8 |
| | $ | 637.1 |
| | |
| | (a) | Relieved as removal costs are incurred. |
| | | | | | | | | | | | | | I&M | | | December 31, | | Remaining Recovery Period | Regulatory Assets: | | 2016 | | 2015 | | | | (in millions) | | | Current Regulatory Assets | | | | | | | Under-recovered Fuel Costs - earns a return | | $ | 13.0 |
| | $ | 7.5 |
| | 1 year | Under-recovered Fuel Costs - does not earn a return | | 13.1 |
| | 4.1 |
| | 1 year | Total Current Regulatory Assets | | $ | 26.1 |
| | $ | 11.6 |
| | | | | | | | | | Noncurrent Regulatory Assets | | | | | | | Regulatory assets pending final regulatory approval: | | | | | | | | | | | | | | Regulatory Assets Currently Earning a Return | | | | | | | Plant Retirement Costs - Materials and Supplies | | $ | — |
| | $ | 11.6 |
| | | Regulatory Assets Currently Not Earning a Return | | | | | | | Cook Uprate Project | | 36.3 |
| | — |
| | | Cook Plant Turbine | | 12.8 |
| | 9.7 |
| | | Deferred Cook Plant Life Cycle Management Project Costs - Michigan | | 8.1 |
| | 4.2 |
| | | Rockport Plant Dry Sorbent Injection System - Indiana | | 6.6 |
| | 2.8 |
| | | Plant Retirement Costs - Asset Retirement Obligation Costs - Indiana | | — |
| | 27.1 |
| | | Stranded Costs on Abandoned Plants | | — |
| | 3.9 |
| | | Other Regulatory Assets Pending Final Regulatory Approval | | 0.9 |
| | — |
| | | Total Regulatory Assets Pending Final Regulatory Approval | | 64.7 |
| | 59.3 |
| | | | | | | | | | Regulatory assets approved for recovery: | | | | | | | | | | | | | | Regulatory Assets Currently Earning a Return | | | | | | | Plant Retirement Costs - Unrecovered Plant | | 252.8 |
| | 260.3 |
| | 28 years | Cook Plant, Unit 2 Baffle Bolts - Indiana | | 6.3 |
| | 6.6 |
| | 22 years | RTO Formation/Integration Costs | | 1.2 |
| | 1.5 |
| | 3 years | Other Regulatory Assets Approved for Recovery | | 1.3 |
| | 1.0 |
| | various | Regulatory Assets Currently Not Earning a Return | | | | | | | Income Taxes, Net (a) | | 302.6 |
| | 246.8 |
| | 32 years | Pension and OPEB Funded Status | | 141.9 |
| | 126.4 |
| | 12 years | Cook Plant Nuclear Refueling Outage Levelization | | 75.2 |
| | 26.8 |
| | 3 years | Off-system Sales Margin Sharing - Indiana | | 24.3 |
| | 6.8 |
| | 2 years | Postemployment Benefits | | 11.4 |
| | 10.7 |
| | 5 years | Unamortized Loss on Reacquired Debt | | 10.7 |
| | 12.0 |
| | 16 years | Medicare Subsidy | | 8.2 |
| | 9.2 |
| | 8 years | Litigation Settlement - Indiana | | 7.6 |
| | 8.6 |
| | 9 years | River Transportation Division Expenses | | 3.7 |
| | — |
| | 1 year | Peak Demand Reduction/Energy Efficiency | | 3.6 |
| | 10.6 |
| | 2 years | Capacity Costs - Indiana | | 0.4 |
| | 7.5 |
| | 1 year | Unrealized Loss on Forward Commitments | | 0.1 |
| | 3.2 |
| | 2 years | PJM Expense - Indiana | | — |
| | 4.1 |
| |
| Storm Related Costs - Indiana | | — |
| | 1.8 |
| |
| Other Regulatory Assets Approved for Recovery | | 0.6 |
| | 1.1 |
| | various | Total Regulatory Assets Approved for Recovery | | 851.9 |
| | 745.0 |
| | | | | | | | | | Total Noncurrent Regulatory Assets | | $ | 916.6 |
| | $ | 804.3 |
| | |
| | (a) | Includes $74 million and $69 million as of December 31, 2016 and 2015, respectively, expected to be recovered in formula rates. |
| | | | | | | | | | | | | | I&M | | | December 31, | | Remaining Refund Period | Regulatory Liabilities: | | 2016 | | 2015 | | | | (in millions) | | | Current Regulatory Liabilities | | | | | | | Over-recovered Fuel Costs - pays a return | | $ | — |
| | $ | 0.3 |
| |
| Total Current Regulatory Liabilities | | $ | — |
| | $ | 0.3 |
| | | | | | | | | | Noncurrent Regulatory Liabilities and Deferred Investment Tax Credits | | | | | | | Regulatory liabilities approved for payment: | | | | | | | | | | | | | | Regulatory Liabilities Currently Paying a Return | | | | | | | Asset Removal Costs (a) | | $ | 236.5 |
| | $ | 350.6 |
| | (b) | Regulatory Liabilities Currently Not Paying a Return | | | | | | | Excess Nuclear Decommissioning Funding | | 731.2 |
| | 636.5 |
| | (c) | Spent Nuclear Fuel | | 44.2 |
| | 43.4 |
| | (c) | Deferred Investment Tax Credits | | 38.8 |
| | 35.0 |
| | 20 years | Deferred Cook Plant Life Cycle Management Project Costs - Indiana | | 4.6 |
| | — |
| | 3 years | PJM Expense - Indiana | | 4.2 |
| | — |
| | 2 years | Unrealized Gain on Forward Commitments | | 2.4 |
| | 7.1 |
| | 2 years | Rockport Plant Dry Sorbent Injection | | 1.7 |
| | 0.4 |
| | 2 years | Storm Related Costs - Indiana | | 1.2 |
| | — |
| | 1 year | River Transportation Division Expenses | | — |
| | 1.9 |
| |
| Other Regulatory Liabilities Approved for Payment | | 0.7 |
| | 1.3 |
| | various | Total Regulatory Liabilities Approved for Payment | | 1,065.5 |
| | 1,076.2 |
| | | | | | | | | | Total Noncurrent Regulatory Liabilities and Deferred Investment Tax Credits | | $ | 1,065.5 |
| | $ | 1,076.2 |
| | |
| | (a) | As of December 31, 2016, I&M has charged $43 million to asset removal costs related to various Tanners Creek Plant related assets, primarily related to the net book value of ARO assets. The Indiana and Michigan retail jurisdictions of I&M have increased depreciation rates on Rockport Plant to recover the net book value of Tanners Creek Plant that was retired in 2015. I&M intends to address the need for increases in depreciation rates to recover the deferral in its next Indiana and Michigan base rate cases. |
| | (b) | Relieved as removal costs are incurred. |
| | (c) | Relieved when plant is decommissioned. |
| | | | | | | | | | | | | | OPCo | | | December 31, | | Remaining Recovery Period | Regulatory Assets: | | 2016 |
| 2015 | | | | (in millions) | | | Noncurrent Regulatory Assets | | | | | | | Regulatory assets pending final regulatory approval: | | | | | | | | | | | | | | Regulatory Assets Currently Earning a Return | | | | | | | Capacity Deferral | | $ | 96.7 |
| | $ | — |
| | | Regulatory Assets Currently Not Earning a Return | | | | | | | gridSMART® Costs | | 4.1 |
| | 1.3 |
| | | Total Regulatory Assets Pending Final Regulatory Approval | | 100.8 |
| | 1.3 |
| | | | | | | | | | Regulatory assets approved for recovery: | | | | | | | | | | | | | | Regulatory Assets Currently Earning a Return | | | | | | | Phase-In Recovery Rider | | 218.9 |
| | 304.5 |
| | 2 years | Capacity Deferral | | 201.9 |
| | 358.7 |
| | 2 years | Distribution Decoupling | | 41.8 |
| | 37.5 |
| | 2 years | Basic Transmission Cost Rider | | 19.9 |
| | — |
| | 2 years | RTO Formation/Integration Costs | | 2.5 |
| | 3.1 |
| | 3 years | Economic Development Rider | | 1.7 |
| | — |
| | 2 years | Transmission Cost Recovery Rider | | — |
| | 12.3 |
| |
| Regulatory Assets Currently Not Earning a Return | | | | | | | Pension and OPEB Funded Status | | 225.2 |
| | 219.4 |
| | 12 years | Income Taxes, Net (a) | | 126.4 |
| | 129.0 |
| | 28 years | Unrealized Loss on Forward Commitments | | 118.6 |
| | — |
| | 16 years | OVEC Purchased Power | | 22.1 |
| | — |
| | 2 years | Unamortized Loss on Reacquired Debt | | 9.1 |
| | 10.4 |
| | 22 years | Medicare Subsidy | | 8.3 |
| | 9.3 |
| | 8 years | Postemployment Benefits | | 6.8 |
| | 7.3 |
| | 5 years | Distribution Investment Rider | | 2.0 |
| | 12.3 |
| | 2 years | Partnership with Ohio Contribution | | 1.4 |
| | 2.4 |
| | 2 years | gridSMART® Costs | | — |
| | 4.5 |
| |
| Other Regulatory Assets Approved for Recovery | | 0.1 |
| | 1.0 |
| | various | Total Regulatory Assets Approved for Recovery | | 1,006.7 |
| | 1,111.7 |
| | | | | | | | | | Total Noncurrent Regulatory Assets | | $ | 1,107.5 |
| | $ | 1,113.0 |
| | |
| | (a) | Includes $76 million and $82 million as of December 31, 2016 and 2015, respectively, expected to be recovered in formula rates. |
| | | | | | | | | | | | | | OPCo | | | December 31, | | Remaining Refund Period | | | 2016 | | 2015 | | Regulatory Liabilities: | | (in millions) | | | | | | | | | | Current Regulatory Liabilities | | | | | | | Over-recovered Fuel Costs - does not pay a return | | $ | 4.2 |
| | $ | 27.6 |
| | 1 year | Total Current Regulatory Liabilities | | $ | 4.2 |
| | $ | 27.6 |
| | | | | | | | | | Noncurrent Regulatory Liabilities and Deferred Investment Tax Credits | | | | | | | Regulatory liabilities pending final regulatory determination: | | | | | | | | | | | | | | Regulatory Liabilities Currently Not Paying a Return | | | | | | | Provision for Regulatory Loss | | $ | — |
| | $ | 40.6 |
| | | Other Regulatory Liabilities Pending Final Regulatory Determination | | 0.2 |
| | 0.2 |
| | | Total Regulatory Liabilities Pending Final Regulatory Determination | | 0.2 |
| | 40.8 |
| | | | | | | | | | Regulatory liabilities approved for payment: | | | | | | | | | | | | | | Regulatory Liabilities Currently Paying a Return | | | | | | | Asset Removal Costs | | 432.4 |
| | 422.3 |
| | (a) | Basic Transmission Cost Rider | | 0.3 |
| | 4.9 |
| | 2 years | Economic Development Rider | | — |
| | 5.0 |
| |
| Regulatory Liabilities Currently Not Paying a Return | | | | | | | Peak Demand Reduction/Energy Efficiency | | 29.0 |
| | 1.5 |
| | 2 years | Enhanced Service Reliability Plan | | 21.7 |
| | 8.0 |
| | 2 years | gridSMART® Costs | | 11.9 |
| | — |
| | 2 years | Storm Related Costs | | 5.3 |
| | 1.3 |
| | 2 years | Deferred Asset Phase-In Rider | | 4.5 |
| | 5.1 |
| | 4 years | Unrealized Gain on Forward Commitments | | — |
| | 15.3 |
| |
| Regulatory Settlement | | — |
| | 9.0 |
| |
| Other Regulatory Liabilities Approved for Payment | | 0.9 |
| | 1.0 |
| | various | Total Regulatory Liabilities Approved for Payment | | 506.0 |
| | 473.4 |
| | | | | | | | | | Total Noncurrent Regulatory Liabilities and Deferred Investment Tax Credits | | $ | 506.2 |
| | $ | 514.2 |
| | |
(a) Relieved as removal costs are incurred. | | | | | | | | | | | | | | PSO | | | December 31, | | Remaining Recovery Period | | | 2016 | | 2015 | | Regulatory Assets: | | (in millions) | | | | | | | | | | Current Regulatory Assets | | | | | | | Under-recovered Fuel Costs - earns a return | | $ | 33.8 |
| | $ | — |
| | 1 year | Total Current Regulatory Assets | | $ | 33.8 |
| | $ | — |
| | | | | | | | | | Noncurrent Regulatory Assets | | | | | | | Regulatory assets pending final regulatory approval: | | | | | | | | | | | | | | Regulatory Assets Currently Earning a Return | | | | | | | Plant Retirement Costs - Unrecovered Plant | | $ | 84.5 |
| | $ | — |
| | | Other Regulatory Assets Pending Final Regulatory Approval | | 0.5 |
| | — |
| | | Regulatory Assets Currently Not Earning a Return | | | | | | | Storm Related Costs | | 20.0 |
| | 12.3 |
| | | Environmental Control Projects | | 13.1 |
| | — |
| | | Other Regulatory Assets Pending Final Regulatory Approval | | — |
| | 1.1 |
| | | Total Regulatory Assets Pending Final Regulatory Approval | | 118.1 |
| | 13.4 |
| | | | | | | | | | Regulatory assets approved for recovery: | | | | | | | | | | | | | | Regulatory Assets Currently Earning a Return | | | | | | | Meter Replacement Costs | | 50.1 |
| | 35.8 |
| | 8 years | Storm Related Costs | | 10.8 |
| | — |
| | 3 years | Red Rock Generating Facility | | 9.1 |
| | 9.3 |
| | 40 years | Regulatory Assets Currently Not Earning a Return | | | | | | | Pension and OPEB Funded Status | | 98.1 |
| | 95.1 |
| | 12 years | Deferred System Reliability Rider Expenses | | 12.5 |
| | 9.9 |
| | 1 year | Storm Related Costs | | — |
| | 15.4 |
| | | SPP Base Plan Fees | | 10.7 |
| | — |
| | 2 years | Peak Demand Reduction/Energy Efficiency | | 10.3 |
| | 11.8 |
| | 2 years | Income Taxes, Net | | 9.3 |
| | 6.1 |
| | 33 years | Unamortized Loss on Reacquired Debt | | 5.8 |
| | 6.8 |
| | 16 years | Medicare Subsidy | | 3.9 |
| | 4.4 |
| | 8 years | Rate Case Expenses | | 1.4 |
| | 1.2 |
| | 1 year | Vegetation Management | | — |
| | 4.5 |
| |
| Other Regulatory Assets Approved for Recovery | | 0.1 |
| | 1.1 |
| | various | Total Regulatory Assets Approved for Recovery | | 222.1 |
| | 201.4 |
| | | | | | | | | | Total Noncurrent Regulatory Assets | | $ | 340.2 |
| | $ | 214.8 |
| | |
| | | | | | | | | | | | | | PSO | | | December 31, | | Remaining Refund Period | | | 2016 | | 2015 | | Regulatory Liabilities: | | (in millions) | | | | | | | | | | Current Regulatory Liabilities | | | | | | | Over-recovered Fuel Costs - pays a return | | $ | — |
| | $ | 76.1 |
| |
| Total Current Regulatory Liabilities | | $ | — |
| | $ | 76.1 |
| | | | | | | | | | Noncurrent Regulatory Liabilities and Deferred Investment Tax Credits | | | | | | | Regulatory liabilities approved for payment: | | | | | | | | | | | | | | Regulatory Liabilities Currently Paying a Return | | | | | | | Asset Removal Costs | | $ | 279.3 |
| | $ | 275.5 |
| | (a) | Regulatory Liabilities Currently Not Paying a Return | | | | | | | Deferred Investment Tax Credits | | 48.0 |
| | 46.3 |
| | 38 years | Advanced Metering Costs | | 11.5 |
| | 11.4 |
| | 1 year | Base Plan Funding Costs | | — |
| | 1.3 |
| |
| Other Regulatory Liabilities Approved for Payment | | 0.9 |
| | 0.6 |
| | various | Total Regulatory Liabilities Approved for Payment | | 339.7 |
| | 335.1 |
| | | | | | | | | | Total Noncurrent Regulatory Liabilities and Deferred Investment Tax Credits | | $ | 339.7 |
| | $ | 335.1 |
| | |
| | (a) | Relieved as removal costs are incurred. |
| | | | | | | | | | | | | | SWEPCo | | | December 31, | | Remaining Recovery Period | | | 2016 | | 2015 | | Regulatory Assets: | | (in millions) | | | | | | | | | | Current Regulatory Assets | | | | | | | Under-recovered Fuel Costs - earns a return | | $ | 8.4 |
| | $ | 4.1 |
| | 1 year | Total Current Regulatory Assets | | $ | 8.4 |
| | $ | 4.1 |
| | | | | | | | | | Noncurrent Regulatory Assets | | | | | | | Regulatory assets pending final regulatory approval: | | | | | | | | | | | | | | Regulatory Assets Currently Earning a Return | | | | | | | Plant Retirement Costs - Unrecovered Plant | | $ | 75.4 |
| | $ | — |
| | | Other Regulatory Assets Pending Final Regulatory Approval | | 0.8 |
| | — |
| | | Regulatory Assets Currently Not Earning a Return | | | | | | | Environmental Controls Projects | | 11.0 |
| | — |
| | | Shipe Road Transmission Project - FERC | | 3.1 |
| | 3.1 |
| | | Asset Retirement Obligation - Arkansas, Louisiana | | 2.7 |
| | 1.7 |
| | | Rate Case Expense - Texas | | 1.0 |
| | 0.3 |
| | | Other Regulatory Assets Pending Final Regulatory Approval | | 1.9 |
| | 0.8 |
| | | Total Regulatory Assets Pending Final Regulatory Approval | | 95.9 |
| | 5.9 |
| | | | | | | | | | Regulatory assets approved for recovery: | | | | | | | | | | | | | | Regulatory Assets Currently Earning a Return | | | | | | | Other Regulatory Assets Approved for Recovery | | 1.3 |
| | 0.2 |
| | various | Regulatory Assets Currently Not Earning a Return | | | | | | | Income Taxes, Net | | 314.2 |
| | 271.9 |
| | 34 years | Pension and OPEB Funded Status | | 119.8 |
| | 108.9 |
| | 12 years | Unamortized Loss on Reacquired Debt | | 5.4 |
| | 6.0 |
| | 27 years | Medicare Subsidy | | 4.3 |
| | 4.8 |
| | 8 years | Rate Case Expense - Texas | | 4.2 |
| | 6.8 |
| | 2 years | Peak Demand Reduction/Energy Efficiency | | 3.0 |
| | 1.0 |
| | 2 years | Deferred Restructuring Costs - Louisiana | | 1.9 |
| | 3.5 |
| | 2 years | Unrealized Loss on Forward Commitments | | 0.3 |
| | 5.5 |
| | 1 year | Other Regulatory Assets Approved for Recovery | | 0.9 |
| | 1.3 |
| | various | Total Regulatory Assets Approved for Recovery | | 455.3 |
| | 409.9 |
| | | | | | | | | | Total Noncurrent Regulatory Assets | | $ | 551.2 |
| | $ | 415.8 |
| | |
| | | | | | | | | | | | | | SWEPCo | | | December 31, | | Remaining Refund Period | | | 2016 | | 2015 | | Regulatory Liabilities: | | (in millions) | | | | | | | | | | Current Regulatory Liabilities | | | | | | | Over-recovered Fuel Costs - pays a return | | $ | 3.8 |
| | $ | 8.4 |
| | 1 year | Total Current Regulatory Liabilities | | $ | 3.8 |
| | $ | 8.4 |
| | | | | | | | | | Noncurrent Regulatory Liabilities and Deferred Investment Tax Credits | | | | | | | Regulatory liabilities approved for payment: | | | | | | | | | | | | | | Regulatory Liabilities Currently Paying a Return | | | | | | | Asset Removal Costs | | $ | 409.7 |
| | $ | 396.8 |
| | (a) | Refundable Construction Financing Costs - Louisiana | | 16.2 |
| | 37.4 |
| | 2 years | Excess Earnings - Texas | | 2.7 |
| | 2.7 |
| | 37 years | Generation Recovery Rider Costs - Arkansas | | 1.2 |
| | 1.5 |
| | 2 years | Regulatory Liabilities Currently Not Paying a Return | | | | | | | Deferred Investment Tax Credits | | 7.3 |
| | 8.5 |
| | 14 years | Other Regulatory Liabilities Approved for Payment | | 1.8 |
| | 1.9 |
| | various | Total Regulatory Liabilities Approved for Payment | | 438.9 |
| | 448.8 |
| | | | | | | | | | Total Noncurrent Regulatory Liabilities and Deferred Investment Tax Credits | | $ | 438.9 |
| | $ | 448.8 |
| | |
| | (a) | Relieved as removal costs are incurred. |
|
Public Service Co Of Oklahoma [Member] |
|
Effects of Regulation |
EFFECTS OF REGULATION
The disclosures in this note apply to all Registrants unless indicated otherwise.
Regulatory Assets and Liabilities
Regulatory assets and liabilities are comprised of the following items: | | | | | | | | | | | | | | AEP | | | December 31, | | Remaining Recovery Period | | | 2016 | | 2015 | | Current Regulatory Assets | | (in millions) | | | Under-recovered Fuel Costs - earns a return | | $ | 61.4 |
| | $ | 38.9 |
| | 1 year | Under-recovered Fuel Costs - does not earn a return | | 95.2 |
| | 76.3 |
| | 1 year | Total Current Regulatory Assets | | $ | 156.6 |
| | $ | 115.2 |
| | | | | | | | | | Noncurrent Regulatory Assets | | | | | | | Regulatory assets pending final regulatory approval: | | | | | | | | | | | | | | Regulatory Assets Currently Earning a Return | | | | | | | Plant Retirement Costs - Unrecovered Plant | | $ | 159.9 |
| | $ | — |
| | | Ohio Capacity Deferral | | 96.7 |
| | — |
| | | Storm Related Costs | | 25.1 |
| | 24.2 |
| | | Plant Retirement Costs - Materials and Supplies | | 9.1 |
| | 20.9 |
| | | Other Regulatory Assets Pending Final Regulatory Approval | | 1.3 |
| | — |
| | | Regulatory Assets Currently Not Earning a Return | | | | | | | Cook Plant Uprate Project | | 36.3 |
| | — |
| | | Plant Retirement Costs - Asset Retirement Obligation Costs | | 29.6 |
| | 59.8 |
| | | Storm Related Costs | | 25.9 |
| | 18.2 |
| | | Environmental Control Projects | | 24.1 |
| | — |
| | | Cook Plant Turbine | | 12.8 |
| | 9.7 |
| | | Peak Demand Reduction/Energy Efficiency | | 0.2 |
| | 13.1 |
| | | Other Regulatory Assets Pending Final Regulatory Approval | | 29.1 |
| | 22.0 |
| | | Total Regulatory Assets Pending Final Regulatory Approval (b) | | 450.1 |
| | 167.9 |
| | | | | | | | | | Regulatory assets approved for recovery: | | | | | | | | | | | | | | Regulatory Assets Currently Earning a Return | | | | | | | Plant Retirement Costs - Unrecovered Plant | | 550.6 |
| | 539.3 |
| | 28 years | Ohio Phase-In Recovery Rider | | 218.9 |
| | 304.5 |
| | 2 years | Ohio Capacity Deferral | | 201.9 |
| | 358.7 |
| | 2 years | Meter Replacement Costs | | 99.9 |
| | 90.4 |
| | 11 years | Ohio Distribution Decoupling | | 41.8 |
| | 37.5 |
| | 2 years | Advanced Metering System | | 20.9 |
| | 3.6 |
| | 4 years | Basic Transmission Cost Rider | | 19.9 |
| | — |
| | 2 years | West Virginia Delayed Customer Billing | | 19.5 |
| | — |
| | 2 years | Asset Removal Costs | | 18.7 |
| | 38.1 |
| | (a) | Mitchell Plant Transfer | | 18.5 |
| | 19.3 |
| | 24 years | Plant Retirement Costs - Asset Retirement Obligation Costs | | 18.3 |
| | 7.6 |
| | 24 years | Storm Related Costs | | 15.3 |
| | 8.8 |
| | 3 years | Red Rock Generating Facility | | 9.1 |
| | 9.3 |
| | 40 years | Ohio Transmission Cost Recovery Rider | | — |
| | 12.3 |
| |
| Other Regulatory Assets Approved for Recovery | | 27.6 |
| | 25.5 |
| | various | Regulatory Assets Currently Not Earning a Return | | | | | | | Income Taxes, Net (c) | | 1,575.0 |
| | 1,385.3 |
| | 62 years | Pension and OPEB Funded Status | | 1,516.2 |
| | 1,410.5 |
| | 12 years | Unamortized Loss on Reacquired Debt | | 137.8 |
| | 148.7 |
| | 29 years | Unrealized Loss on Forward Commitments | | 119.1 |
| | 10.7 |
| | 16 years | Cook Plant Nuclear Refueling Outage Levelization | | 75.2 |
| | 26.8 |
| | 3 years | Storm Related Costs | | 58.7 |
| | 94.6 |
| | 4 years | Peak Demand Reduction/Energy Efficiency | | 49.9 |
| | 33.3 |
| | 5 years | Plant Retirement Costs - Asset Retirement Obligation Costs | | 48.9 |
| | 58.0 |
| | 24 years | Postemployment Benefits | | 39.1 |
| | 42.6 |
| | 5 years | Virginia Transmission Rate Adjustment Clause | | 38.7 |
| | 74.6 |
| | 2 years | Medicare Subsidy | | 37.2 |
| | 41.8 |
| | 8 years | Vegetation Management | | 31.4 |
| | 36.9 |
| | 5 years | Off-system Sales Margin Sharing - Indiana | | 24.3 |
| | 6.8 |
| | 2 years | OVEC Purchased Power | | 22.1 |
| | — |
| | 2 years |
| | | | | | | | | | | | United Mine Workers of America Pension Withdrawal | | 20.2 |
| | 14.4 |
| | 6 years | Deferred System Reliability Rider Expenses | | 12.5 |
| | 9.9 |
| | 1 year | SPP Base Plan Fees | | 10.7 |
| | — |
| | 2 years | Carbon Capture and Storage Product Validation Facility | | 9.1 |
| | 11.7 |
| | 4 years | IGCC Pre-Construction Costs | | 8.6 |
| | 10.9 |
| | 24 years | Transmission Cost Recovery Factor | | 5.3 |
| | 9.9 |
| | 1 year | Distribution Investment Rider | | 2.0 |
| | 12.3 |
| | 2 years | Other Regulatory Assets Approved for Recovery | | 52.5 |
| | 77.8 |
| | various | Total Regulatory Assets Approved for Recovery | | 5,175.4 |
| | 4,972.4 |
| | | | | | | | | | Total Noncurrent Regulatory Assets | | $ | 5,625.5 |
| | $ | 5,140.3 |
| | |
| | (a) | As a regulated entity, removal costs accrued are typically recorded as regulatory liabilities when removal costs accrued exceed actual removal costs incurred. The asset removal costs liability is relieved as removal costs are incurred. As of December 31, 2016, KPCo’s accumulated actual removal cost incurred exceeded accumulated removal cost accrued, creating an asset balance. As a result, the balance was reclassified to a regulatory asset. Within the next two years, KPCo’s removal costs accrued are expected to exceed removal costs incurred resulting in a regulatory liability. |
| | (b) | As of December 31, 2016, APCo has deferred a total of $91 million as charges to accumulated depreciation related to certain plant retirements in 2015. APCo intends to address the need for depreciation rate increases in a subsequent base rate cases. |
| | (c) | Includes $320 million and $288 million as of December 31, 2016 and 2015, respectively, expected to be recovered in formula rates. |
| | | | | | | | | | | | | | AEP | | | December 31, | | Remaining | | | 2016 | | 2015 | | Refund Period | Current Regulatory Liabilities | | (in millions) | | | Over-recovered Fuel Costs - pays a return | | $ | 3.8 |
| | $ | 84.8 |
| | 1 year | Over-recovered Fuel Costs - does not pay a return | | 4.2 |
| | 29.1 |
| | 1 year | Total Current Regulatory Liabilities | | $ | 8.0 |
| | $ | 113.9 |
| | | | | | | | | | Noncurrent Regulatory Liabilities and Deferred Investment Tax Credits | | | | | | | Regulatory liabilities pending final regulatory determination: | | | | | | | | | | | | | | Regulatory Liabilities Currently Not Paying a Return | | | | | | | Provision for Regulatory Loss | | $ | — |
| | $ | 40.6 |
| | | Other Regulatory Liabilities Pending Final Regulatory Determination | | 0.8 |
| | 0.2 |
| | | Total Regulatory Liabilities Pending Final Regulatory Determination | | 0.8 |
| | 40.8 |
| | | | | | | | | | Regulatory liabilities approved for payment: | | | | | | | | | | | | | | Regulatory Liabilities Currently Paying a Return | | | | | | | Asset Removal Costs (a) | | 2,627.5 |
| | 2,656.5 |
| | (b) | Advanced Metering Infrastructure Surcharge | | 17.0 |
| | 21.2 |
| | 4 years | Louisiana Refundable Construction Financing Costs | | 16.2 |
| | 37.4 |
| | 2 years | Deferred Investment Tax Credits | | 12.6 |
| | 14.7 |
| | 42 years | Excess Earnings | | 10.0 |
| | 10.6 |
| | 37 years | Other Regulatory Liabilities Approved for Payment | | 1.6 |
| | 20.5 |
| | various | Regulatory Liabilities Currently Not Paying a Return | | | | | | | Excess Nuclear Decommissioning Funding | | 731.2 |
| | 636.5 |
| | (c) | Deferred Investment Tax Credits | | 132.9 |
| | 113.3 |
| | 46 years | Spent Nuclear Fuel | | 44.2 |
| | 43.4 |
| | (c) | Transition Charges | | 40.5 |
| | 46.5 |
| | 11 years | Peak Demand Reduction/Energy Efficiency | | 34.0 |
| | 5.3 |
| | 2 years | Enhanced Service Reliability Plan | | 21.7 |
| | 8.0 |
| | 2 years | gridSMART® Costs | | 11.9 |
| | — |
| | 2 years | Advanced Metering Costs | | 11.5 |
| | 11.4 |
| | 1 year | Unrealized Gain on Forward Commitments | | 6.2 |
| | 33.8 |
| | 2 years | Deferred Wind Power Costs | | 2.1 |
| | 11.8 |
| | 1 year | Other Regulatory Liabilities Approved for Payment | | 29.4 |
| | 24.4 |
| | various | Total Regulatory Liabilities Approved for Payment | | 3,750.5 |
| | 3,695.3 |
| | | | | | | | | | Total Noncurrent Regulatory Liabilities and Deferred Investment Tax Credits | | $ | 3,751.3 |
| | $ | 3,736.1 |
| | |
| | (a) | As of December 31, 2016, I&M also charged $43 million to asset removal costs related to various Tanners Creek Plant related assets, primarily related to the net book value of ARO assets. The Indiana and Michigan retail jurisdictions of I&M have increased depreciation rates on Rockport Plant to recover the net book value of Tanners Creek Plant that was retired in 2015. I&M intends to address the need for increases in depreciation rates to recover the deferral in its next Indiana and Michigan base rate cases. |
| | (b) | Relieved as removal costs are incurred. |
| | (c) | Relieved when plant is decommissioned. |
| | | | | | | | | | | | | | APCo | | | December 31, | | Remaining Recovery Period | Regulatory Assets: | | 2016 | | 2015 | | | | (in millions) | | | Current Regulatory Assets | | | | | | | Under-recovered Fuel Costs - earns a return | | $ | 6.2 |
| | $ | 27.3 |
| | 1 year | Under-recovered Fuel Costs - does not earn a return | | 62.2 |
| | 59.6 |
| | 1 year | Total Current Regulatory Assets | | $ | 68.4 |
| | $ | 86.9 |
| | | | | | | | | | Noncurrent Regulatory Assets | | | | | | | Regulatory assets pending final regulatory approval: | | | | | | | | | | | | | | Regulatory Assets Currently Earning a Return | | | | | | | Plant Retirement Costs - Materials and Supplies | | $ | 9.1 |
| | $ | 9.3 |
| | | Regulatory Assets Currently Not Earning a Return | | | | | | | Plant Retirement Costs - Asset Retirement Obligation Costs | | 29.6 |
| | 32.7 |
| | | Peak Demand Reduction/Energy Efficiency - Virginia | | — |
| | 12.7 |
| | | Amos Plant Transfer Costs - West Virginia | | — |
| | 2.0 |
| | | Other Regulatory Assets Pending Final Regulatory Approval | | 0.6 |
| | 0.6 |
| | | Total Regulatory Assets Pending Final Regulatory Approval (a) | | 39.3 |
| | 57.3 |
| | | | | | | | | | Regulatory assets approved for recovery: | | | | | | | | | | | | | | Regulatory Assets Currently Earning a Return | | | | | | | Plant Retirement Costs - Unrecovered Plant - West Virginia | | 85.4 |
| | 86.5 |
| | 27 years | West Virginia Delayed Customer Billing | | 18.1 |
| | — |
| | 2 years | Storm Related Costs - Virginia | | 4.6 |
| | 8.8 |
| | 2 years | RTO Formation/Integration Costs | | 1.6 |
| | 2.1 |
| | 3 years | Other Regulatory Assets Approved for Recovery | | 0.6 |
| | — |
| | various | Regulatory Assets Currently Not Earning a Return | | | | | | | Income Taxes, Net (b) | | 463.5 |
| | 441.7 |
| | 26 years | Pension and OPEB Funded Status | | 221.4 |
| | 217.6 |
| | 12 years | Unamortized Loss on Reacquired Debt | | 97.2 |
| | 101.5 |
| | 29 years | Storm Related Costs - West Virginia | | 47.8 |
| | 63.5 |
| | 4 years | Virginia Transmission Rate Adjustment Clause | | 38.7 |
| | 74.6 |
| | 2 years | Vegetation Management Program - West Virginia | | 31.4 |
| | 31.2 |
| | 5 years | Peak Demand Reduction/Energy Efficiency | | 19.2 |
| | 3.5 |
| | 4 years | Postemployment Benefits | | 17.4 |
| | 19.6 |
| | 5 years | Carbon Capture and Storage Product Validation Facility - West Virginia, FERC | | 9.1 |
| | 11.7 |
| | 4 years | IGCC Pre-Construction Costs - West Virginia, FERC | | 7.4 |
| | 9.6 |
| | 4 years | Virginia Generation Rate Adjustment Clause | | 6.5 |
| | 5.2 |
| | 2 years | Medicare Subsidy - West Virginia, FERC | | 4.7 |
| | 5.3 |
| | 8 years | Uncollected Accounts - West Virginia | | 2.7 |
| | 3.5 |
| | 4 years | Deferred Restructuring Costs - West Virginia | | 2.5 |
| | 4.5 |
| | 2 years | Carbon Capture and Storage Commercial Scale Facility - West Virginia, FERC | | 1.0 |
| | 1.2 |
| | 6 years | Asset Retirement Obligation | | 0.6 |
| | 2.4 |
| | 1 year | Transmission Agreement Phase-In - West Virginia | | — |
| | 1.7 |
| |
| Other Regulatory Assets Approved for Recovery | | 0.4 |
| | 1.2 |
| | various | Total Regulatory Assets Approved for Recovery | | 1,081.8 |
| | 1,096.9 |
| | | | | | | | | | Total Noncurrent Regulatory Assets | | $ | 1,121.1 |
| | $ | 1,154.2 |
| | |
| | (a) | As of December 31, 2016, APCo has also deferred $91 million as a charge to accumulated depreciation related to the net book value of certain plants retired in 2015, primarily in its Virginia jurisdiction. These plants were normal retirements and not abandonments. APCo intends to address the need for an increase in its Virginia depreciation rates in March 2020, as part of its 2018-2019 Virginia biennial filing. |
| | (b) | Includes $64 million and $59 million as of December 31, 2016 and 2015, respectively, expected to be recovered in formula rates. |
| | | | | | | | | | | | | | APCo | | | December 31, | | Remaining Refund Period | Regulatory Liabilities: | | 2016 | | 2015 | | | | (in millions) | | | Noncurrent Regulatory Liabilities and Deferred Investment Tax Credits | | | | | | | Regulatory liabilities approved for payment: | | | | | | | | | | | | | | Regulatory Liabilities Currently Paying a Return | | | | | | | Asset Removal Costs | | $ | 616.9 |
| | $ | 612.9 |
| | (a) | Deferred Investment Tax Credits | | 0.9 |
| | 1.0 |
| | 42 years | Regulatory Liabilities Currently Not Paying a Return | | | | | | | Consumer Rate Relief - West Virginia | | 5.1 |
| | 2.9 |
| | 1 year | Deferred Wind Power Costs - Virginia | | 2.1 |
| | 11.8 |
| | 1 year | Energy Efficiency Rate Adjustment Clause - Virginia | | 1.5 |
| | — |
| | 2 years | Unrealized Gain on Forward Commitments | | 1.3 |
| | 8.4 |
| | 2 years | Other Regulatory Liabilities Approved for Payment | | — |
| | 0.1 |
| | various | Total Regulatory Liabilities Approved for Payment | | 627.8 |
| | 637.1 |
| | | | | | | | | | Total Noncurrent Regulatory Liabilities and Deferred Investment Tax Credits | | $ | 627.8 |
| | $ | 637.1 |
| | |
| | (a) | Relieved as removal costs are incurred. |
| | | | | | | | | | | | | | I&M | | | December 31, | | Remaining Recovery Period | Regulatory Assets: | | 2016 | | 2015 | | | | (in millions) | | | Current Regulatory Assets | | | | | | | Under-recovered Fuel Costs - earns a return | | $ | 13.0 |
| | $ | 7.5 |
| | 1 year | Under-recovered Fuel Costs - does not earn a return | | 13.1 |
| | 4.1 |
| | 1 year | Total Current Regulatory Assets | | $ | 26.1 |
| | $ | 11.6 |
| | | | | | | | | | Noncurrent Regulatory Assets | | | | | | | Regulatory assets pending final regulatory approval: | | | | | | | | | | | | | | Regulatory Assets Currently Earning a Return | | | | | | | Plant Retirement Costs - Materials and Supplies | | $ | — |
| | $ | 11.6 |
| | | Regulatory Assets Currently Not Earning a Return | | | | | | | Cook Uprate Project | | 36.3 |
| | — |
| | | Cook Plant Turbine | | 12.8 |
| | 9.7 |
| | | Deferred Cook Plant Life Cycle Management Project Costs - Michigan | | 8.1 |
| | 4.2 |
| | | Rockport Plant Dry Sorbent Injection System - Indiana | | 6.6 |
| | 2.8 |
| | | Plant Retirement Costs - Asset Retirement Obligation Costs - Indiana | | — |
| | 27.1 |
| | | Stranded Costs on Abandoned Plants | | — |
| | 3.9 |
| | | Other Regulatory Assets Pending Final Regulatory Approval | | 0.9 |
| | — |
| | | Total Regulatory Assets Pending Final Regulatory Approval | | 64.7 |
| | 59.3 |
| | | | | | | | | | Regulatory assets approved for recovery: | | | | | | | | | | | | | | Regulatory Assets Currently Earning a Return | | | | | | | Plant Retirement Costs - Unrecovered Plant | | 252.8 |
| | 260.3 |
| | 28 years | Cook Plant, Unit 2 Baffle Bolts - Indiana | | 6.3 |
| | 6.6 |
| | 22 years | RTO Formation/Integration Costs | | 1.2 |
| | 1.5 |
| | 3 years | Other Regulatory Assets Approved for Recovery | | 1.3 |
| | 1.0 |
| | various | Regulatory Assets Currently Not Earning a Return | | | | | | | Income Taxes, Net (a) | | 302.6 |
| | 246.8 |
| | 32 years | Pension and OPEB Funded Status | | 141.9 |
| | 126.4 |
| | 12 years | Cook Plant Nuclear Refueling Outage Levelization | | 75.2 |
| | 26.8 |
| | 3 years | Off-system Sales Margin Sharing - Indiana | | 24.3 |
| | 6.8 |
| | 2 years | Postemployment Benefits | | 11.4 |
| | 10.7 |
| | 5 years | Unamortized Loss on Reacquired Debt | | 10.7 |
| | 12.0 |
| | 16 years | Medicare Subsidy | | 8.2 |
| | 9.2 |
| | 8 years | Litigation Settlement - Indiana | | 7.6 |
| | 8.6 |
| | 9 years | River Transportation Division Expenses | | 3.7 |
| | — |
| | 1 year | Peak Demand Reduction/Energy Efficiency | | 3.6 |
| | 10.6 |
| | 2 years | Capacity Costs - Indiana | | 0.4 |
| | 7.5 |
| | 1 year | Unrealized Loss on Forward Commitments | | 0.1 |
| | 3.2 |
| | 2 years | PJM Expense - Indiana | | — |
| | 4.1 |
| |
| Storm Related Costs - Indiana | | — |
| | 1.8 |
| |
| Other Regulatory Assets Approved for Recovery | | 0.6 |
| | 1.1 |
| | various | Total Regulatory Assets Approved for Recovery | | 851.9 |
| | 745.0 |
| | | | | | | | | | Total Noncurrent Regulatory Assets | | $ | 916.6 |
| | $ | 804.3 |
| | |
| | (a) | Includes $74 million and $69 million as of December 31, 2016 and 2015, respectively, expected to be recovered in formula rates. |
| | | | | | | | | | | | | | I&M | | | December 31, | | Remaining Refund Period | Regulatory Liabilities: | | 2016 | | 2015 | | | | (in millions) | | | Current Regulatory Liabilities | | | | | | | Over-recovered Fuel Costs - pays a return | | $ | — |
| | $ | 0.3 |
| |
| Total Current Regulatory Liabilities | | $ | — |
| | $ | 0.3 |
| | | | | | | | | | Noncurrent Regulatory Liabilities and Deferred Investment Tax Credits | | | | | | | Regulatory liabilities approved for payment: | | | | | | | | | | | | | | Regulatory Liabilities Currently Paying a Return | | | | | | | Asset Removal Costs (a) | | $ | 236.5 |
| | $ | 350.6 |
| | (b) | Regulatory Liabilities Currently Not Paying a Return | | | | | | | Excess Nuclear Decommissioning Funding | | 731.2 |
| | 636.5 |
| | (c) | Spent Nuclear Fuel | | 44.2 |
| | 43.4 |
| | (c) | Deferred Investment Tax Credits | | 38.8 |
| | 35.0 |
| | 20 years | Deferred Cook Plant Life Cycle Management Project Costs - Indiana | | 4.6 |
| | — |
| | 3 years | PJM Expense - Indiana | | 4.2 |
| | — |
| | 2 years | Unrealized Gain on Forward Commitments | | 2.4 |
| | 7.1 |
| | 2 years | Rockport Plant Dry Sorbent Injection | | 1.7 |
| | 0.4 |
| | 2 years | Storm Related Costs - Indiana | | 1.2 |
| | — |
| | 1 year | River Transportation Division Expenses | | — |
| | 1.9 |
| |
| Other Regulatory Liabilities Approved for Payment | | 0.7 |
| | 1.3 |
| | various | Total Regulatory Liabilities Approved for Payment | | 1,065.5 |
| | 1,076.2 |
| | | | | | | | | | Total Noncurrent Regulatory Liabilities and Deferred Investment Tax Credits | | $ | 1,065.5 |
| | $ | 1,076.2 |
| | |
| | (a) | As of December 31, 2016, I&M has charged $43 million to asset removal costs related to various Tanners Creek Plant related assets, primarily related to the net book value of ARO assets. The Indiana and Michigan retail jurisdictions of I&M have increased depreciation rates on Rockport Plant to recover the net book value of Tanners Creek Plant that was retired in 2015. I&M intends to address the need for increases in depreciation rates to recover the deferral in its next Indiana and Michigan base rate cases. |
| | (b) | Relieved as removal costs are incurred. |
| | (c) | Relieved when plant is decommissioned. |
| | | | | | | | | | | | | | OPCo | | | December 31, | | Remaining Recovery Period | Regulatory Assets: | | 2016 |
| 2015 | | | | (in millions) | | | Noncurrent Regulatory Assets | | | | | | | Regulatory assets pending final regulatory approval: | | | | | | | | | | | | | | Regulatory Assets Currently Earning a Return | | | | | | | Capacity Deferral | | $ | 96.7 |
| | $ | — |
| | | Regulatory Assets Currently Not Earning a Return | | | | | | | gridSMART® Costs | | 4.1 |
| | 1.3 |
| | | Total Regulatory Assets Pending Final Regulatory Approval | | 100.8 |
| | 1.3 |
| | | | | | | | | | Regulatory assets approved for recovery: | | | | | | | | | | | | | | Regulatory Assets Currently Earning a Return | | | | | | | Phase-In Recovery Rider | | 218.9 |
| | 304.5 |
| | 2 years | Capacity Deferral | | 201.9 |
| | 358.7 |
| | 2 years | Distribution Decoupling | | 41.8 |
| | 37.5 |
| | 2 years | Basic Transmission Cost Rider | | 19.9 |
| | — |
| | 2 years | RTO Formation/Integration Costs | | 2.5 |
| | 3.1 |
| | 3 years | Economic Development Rider | | 1.7 |
| | — |
| | 2 years | Transmission Cost Recovery Rider | | — |
| | 12.3 |
| |
| Regulatory Assets Currently Not Earning a Return | | | | | | | Pension and OPEB Funded Status | | 225.2 |
| | 219.4 |
| | 12 years | Income Taxes, Net (a) | | 126.4 |
| | 129.0 |
| | 28 years | Unrealized Loss on Forward Commitments | | 118.6 |
| | — |
| | 16 years | OVEC Purchased Power | | 22.1 |
| | — |
| | 2 years | Unamortized Loss on Reacquired Debt | | 9.1 |
| | 10.4 |
| | 22 years | Medicare Subsidy | | 8.3 |
| | 9.3 |
| | 8 years | Postemployment Benefits | | 6.8 |
| | 7.3 |
| | 5 years | Distribution Investment Rider | | 2.0 |
| | 12.3 |
| | 2 years | Partnership with Ohio Contribution | | 1.4 |
| | 2.4 |
| | 2 years | gridSMART® Costs | | — |
| | 4.5 |
| |
| Other Regulatory Assets Approved for Recovery | | 0.1 |
| | 1.0 |
| | various | Total Regulatory Assets Approved for Recovery | | 1,006.7 |
| | 1,111.7 |
| | | | | | | | | | Total Noncurrent Regulatory Assets | | $ | 1,107.5 |
| | $ | 1,113.0 |
| | |
| | (a) | Includes $76 million and $82 million as of December 31, 2016 and 2015, respectively, expected to be recovered in formula rates. |
| | | | | | | | | | | | | | OPCo | | | December 31, | | Remaining Refund Period | | | 2016 | | 2015 | | Regulatory Liabilities: | | (in millions) | | | | | | | | | | Current Regulatory Liabilities | | | | | | | Over-recovered Fuel Costs - does not pay a return | | $ | 4.2 |
| | $ | 27.6 |
| | 1 year | Total Current Regulatory Liabilities | | $ | 4.2 |
| | $ | 27.6 |
| | | | | | | | | | Noncurrent Regulatory Liabilities and Deferred Investment Tax Credits | | | | | | | Regulatory liabilities pending final regulatory determination: | | | | | | | | | | | | | | Regulatory Liabilities Currently Not Paying a Return | | | | | | | Provision for Regulatory Loss | | $ | — |
| | $ | 40.6 |
| | | Other Regulatory Liabilities Pending Final Regulatory Determination | | 0.2 |
| | 0.2 |
| | | Total Regulatory Liabilities Pending Final Regulatory Determination | | 0.2 |
| | 40.8 |
| | | | | | | | | | Regulatory liabilities approved for payment: | | | | | | | | | | | | | | Regulatory Liabilities Currently Paying a Return | | | | | | | Asset Removal Costs | | 432.4 |
| | 422.3 |
| | (a) | Basic Transmission Cost Rider | | 0.3 |
| | 4.9 |
| | 2 years | Economic Development Rider | | — |
| | 5.0 |
| |
| Regulatory Liabilities Currently Not Paying a Return | | | | | | | Peak Demand Reduction/Energy Efficiency | | 29.0 |
| | 1.5 |
| | 2 years | Enhanced Service Reliability Plan | | 21.7 |
| | 8.0 |
| | 2 years | gridSMART® Costs | | 11.9 |
| | — |
| | 2 years | Storm Related Costs | | 5.3 |
| | 1.3 |
| | 2 years | Deferred Asset Phase-In Rider | | 4.5 |
| | 5.1 |
| | 4 years | Unrealized Gain on Forward Commitments | | — |
| | 15.3 |
| |
| Regulatory Settlement | | — |
| | 9.0 |
| |
| Other Regulatory Liabilities Approved for Payment | | 0.9 |
| | 1.0 |
| | various | Total Regulatory Liabilities Approved for Payment | | 506.0 |
| | 473.4 |
| | | | | | | | | | Total Noncurrent Regulatory Liabilities and Deferred Investment Tax Credits | | $ | 506.2 |
| | $ | 514.2 |
| | |
(a) Relieved as removal costs are incurred. | | | | | | | | | | | | | | PSO | | | December 31, | | Remaining Recovery Period | | | 2016 | | 2015 | | Regulatory Assets: | | (in millions) | | | | | | | | | | Current Regulatory Assets | | | | | | | Under-recovered Fuel Costs - earns a return | | $ | 33.8 |
| | $ | — |
| | 1 year | Total Current Regulatory Assets | | $ | 33.8 |
| | $ | — |
| | | | | | | | | | Noncurrent Regulatory Assets | | | | | | | Regulatory assets pending final regulatory approval: | | | | | | | | | | | | | | Regulatory Assets Currently Earning a Return | | | | | | | Plant Retirement Costs - Unrecovered Plant | | $ | 84.5 |
| | $ | — |
| | | Other Regulatory Assets Pending Final Regulatory Approval | | 0.5 |
| | — |
| | | Regulatory Assets Currently Not Earning a Return | | | | | | | Storm Related Costs | | 20.0 |
| | 12.3 |
| | | Environmental Control Projects | | 13.1 |
| | — |
| | | Other Regulatory Assets Pending Final Regulatory Approval | | — |
| | 1.1 |
| | | Total Regulatory Assets Pending Final Regulatory Approval | | 118.1 |
| | 13.4 |
| | | | | | | | | | Regulatory assets approved for recovery: | | | | | | | | | | | | | | Regulatory Assets Currently Earning a Return | | | | | | | Meter Replacement Costs | | 50.1 |
| | 35.8 |
| | 8 years | Storm Related Costs | | 10.8 |
| | — |
| | 3 years | Red Rock Generating Facility | | 9.1 |
| | 9.3 |
| | 40 years | Regulatory Assets Currently Not Earning a Return | | | | | | | Pension and OPEB Funded Status | | 98.1 |
| | 95.1 |
| | 12 years | Deferred System Reliability Rider Expenses | | 12.5 |
| | 9.9 |
| | 1 year | Storm Related Costs | | — |
| | 15.4 |
| | | SPP Base Plan Fees | | 10.7 |
| | — |
| | 2 years | Peak Demand Reduction/Energy Efficiency | | 10.3 |
| | 11.8 |
| | 2 years | Income Taxes, Net | | 9.3 |
| | 6.1 |
| | 33 years | Unamortized Loss on Reacquired Debt | | 5.8 |
| | 6.8 |
| | 16 years | Medicare Subsidy | | 3.9 |
| | 4.4 |
| | 8 years | Rate Case Expenses | | 1.4 |
| | 1.2 |
| | 1 year | Vegetation Management | | — |
| | 4.5 |
| |
| Other Regulatory Assets Approved for Recovery | | 0.1 |
| | 1.1 |
| | various | Total Regulatory Assets Approved for Recovery | | 222.1 |
| | 201.4 |
| | | | | | | | | | Total Noncurrent Regulatory Assets | | $ | 340.2 |
| | $ | 214.8 |
| | |
| | | | | | | | | | | | | | PSO | | | December 31, | | Remaining Refund Period | | | 2016 | | 2015 | | Regulatory Liabilities: | | (in millions) | | | | | | | | | | Current Regulatory Liabilities | | | | | | | Over-recovered Fuel Costs - pays a return | | $ | — |
| | $ | 76.1 |
| |
| Total Current Regulatory Liabilities | | $ | — |
| | $ | 76.1 |
| | | | | | | | | | Noncurrent Regulatory Liabilities and Deferred Investment Tax Credits | | | | | | | Regulatory liabilities approved for payment: | | | | | | | | | | | | | | Regulatory Liabilities Currently Paying a Return | | | | | | | Asset Removal Costs | | $ | 279.3 |
| | $ | 275.5 |
| | (a) | Regulatory Liabilities Currently Not Paying a Return | | | | | | | Deferred Investment Tax Credits | | 48.0 |
| | 46.3 |
| | 38 years | Advanced Metering Costs | | 11.5 |
| | 11.4 |
| | 1 year | Base Plan Funding Costs | | — |
| | 1.3 |
| |
| Other Regulatory Liabilities Approved for Payment | | 0.9 |
| | 0.6 |
| | various | Total Regulatory Liabilities Approved for Payment | | 339.7 |
| | 335.1 |
| | | | | | | | | | Total Noncurrent Regulatory Liabilities and Deferred Investment Tax Credits | | $ | 339.7 |
| | $ | 335.1 |
| | |
| | (a) | Relieved as removal costs are incurred. |
| | | | | | | | | | | | | | SWEPCo | | | December 31, | | Remaining Recovery Period | | | 2016 | | 2015 | | Regulatory Assets: | | (in millions) | | | | | | | | | | Current Regulatory Assets | | | | | | | Under-recovered Fuel Costs - earns a return | | $ | 8.4 |
| | $ | 4.1 |
| | 1 year | Total Current Regulatory Assets | | $ | 8.4 |
| | $ | 4.1 |
| | | | | | | | | | Noncurrent Regulatory Assets | | | | | | | Regulatory assets pending final regulatory approval: | | | | | | | | | | | | | | Regulatory Assets Currently Earning a Return | | | | | | | Plant Retirement Costs - Unrecovered Plant | | $ | 75.4 |
| | $ | — |
| | | Other Regulatory Assets Pending Final Regulatory Approval | | 0.8 |
| | — |
| | | Regulatory Assets Currently Not Earning a Return | | | | | | | Environmental Controls Projects | | 11.0 |
| | — |
| | | Shipe Road Transmission Project - FERC | | 3.1 |
| | 3.1 |
| | | Asset Retirement Obligation - Arkansas, Louisiana | | 2.7 |
| | 1.7 |
| | | Rate Case Expense - Texas | | 1.0 |
| | 0.3 |
| | | Other Regulatory Assets Pending Final Regulatory Approval | | 1.9 |
| | 0.8 |
| | | Total Regulatory Assets Pending Final Regulatory Approval | | 95.9 |
| | 5.9 |
| | | | | | | | | | Regulatory assets approved for recovery: | | | | | | | | | | | | | | Regulatory Assets Currently Earning a Return | | | | | | | Other Regulatory Assets Approved for Recovery | | 1.3 |
| | 0.2 |
| | various | Regulatory Assets Currently Not Earning a Return | | | | | | | Income Taxes, Net | | 314.2 |
| | 271.9 |
| | 34 years | Pension and OPEB Funded Status | | 119.8 |
| | 108.9 |
| | 12 years | Unamortized Loss on Reacquired Debt | | 5.4 |
| | 6.0 |
| | 27 years | Medicare Subsidy | | 4.3 |
| | 4.8 |
| | 8 years | Rate Case Expense - Texas | | 4.2 |
| | 6.8 |
| | 2 years | Peak Demand Reduction/Energy Efficiency | | 3.0 |
| | 1.0 |
| | 2 years | Deferred Restructuring Costs - Louisiana | | 1.9 |
| | 3.5 |
| | 2 years | Unrealized Loss on Forward Commitments | | 0.3 |
| | 5.5 |
| | 1 year | Other Regulatory Assets Approved for Recovery | | 0.9 |
| | 1.3 |
| | various | Total Regulatory Assets Approved for Recovery | | 455.3 |
| | 409.9 |
| | | | | | | | | | Total Noncurrent Regulatory Assets | | $ | 551.2 |
| | $ | 415.8 |
| | |
| | | | | | | | | | | | | | SWEPCo | | | December 31, | | Remaining Refund Period | | | 2016 | | 2015 | | Regulatory Liabilities: | | (in millions) | | | | | | | | | | Current Regulatory Liabilities | | | | | | | Over-recovered Fuel Costs - pays a return | | $ | 3.8 |
| | $ | 8.4 |
| | 1 year | Total Current Regulatory Liabilities | | $ | 3.8 |
| | $ | 8.4 |
| | | | | | | | | | Noncurrent Regulatory Liabilities and Deferred Investment Tax Credits | | | | | | | Regulatory liabilities approved for payment: | | | | | | | | | | | | | | Regulatory Liabilities Currently Paying a Return | | | | | | | Asset Removal Costs | | $ | 409.7 |
| | $ | 396.8 |
| | (a) | Refundable Construction Financing Costs - Louisiana | | 16.2 |
| | 37.4 |
| | 2 years | Excess Earnings - Texas | | 2.7 |
| | 2.7 |
| | 37 years | Generation Recovery Rider Costs - Arkansas | | 1.2 |
| | 1.5 |
| | 2 years | Regulatory Liabilities Currently Not Paying a Return | | | | | | | Deferred Investment Tax Credits | | 7.3 |
| | 8.5 |
| | 14 years | Other Regulatory Liabilities Approved for Payment | | 1.8 |
| | 1.9 |
| | various | Total Regulatory Liabilities Approved for Payment | | 438.9 |
| | 448.8 |
| | | | | | | | | | Total Noncurrent Regulatory Liabilities and Deferred Investment Tax Credits | | $ | 438.9 |
| | $ | 448.8 |
| | |
| | (a) | Relieved as removal costs are incurred. |
|
Southwestern Electric Power Co [Member] |
|
Effects of Regulation |
EFFECTS OF REGULATION
The disclosures in this note apply to all Registrants unless indicated otherwise.
Regulatory Assets and Liabilities
Regulatory assets and liabilities are comprised of the following items: | | | | | | | | | | | | | | AEP | | | December 31, | | Remaining Recovery Period | | | 2016 | | 2015 | | Current Regulatory Assets | | (in millions) | | | Under-recovered Fuel Costs - earns a return | | $ | 61.4 |
| | $ | 38.9 |
| | 1 year | Under-recovered Fuel Costs - does not earn a return | | 95.2 |
| | 76.3 |
| | 1 year | Total Current Regulatory Assets | | $ | 156.6 |
| | $ | 115.2 |
| | | | | | | | | | Noncurrent Regulatory Assets | | | | | | | Regulatory assets pending final regulatory approval: | | | | | | | | | | | | | | Regulatory Assets Currently Earning a Return | | | | | | | Plant Retirement Costs - Unrecovered Plant | | $ | 159.9 |
| | $ | — |
| | | Ohio Capacity Deferral | | 96.7 |
| | — |
| | | Storm Related Costs | | 25.1 |
| | 24.2 |
| | | Plant Retirement Costs - Materials and Supplies | | 9.1 |
| | 20.9 |
| | | Other Regulatory Assets Pending Final Regulatory Approval | | 1.3 |
| | — |
| | | Regulatory Assets Currently Not Earning a Return | | | | | | | Cook Plant Uprate Project | | 36.3 |
| | — |
| | | Plant Retirement Costs - Asset Retirement Obligation Costs | | 29.6 |
| | 59.8 |
| | | Storm Related Costs | | 25.9 |
| | 18.2 |
| | | Environmental Control Projects | | 24.1 |
| | — |
| | | Cook Plant Turbine | | 12.8 |
| | 9.7 |
| | | Peak Demand Reduction/Energy Efficiency | | 0.2 |
| | 13.1 |
| | | Other Regulatory Assets Pending Final Regulatory Approval | | 29.1 |
| | 22.0 |
| | | Total Regulatory Assets Pending Final Regulatory Approval (b) | | 450.1 |
| | 167.9 |
| | | | | | | | | | Regulatory assets approved for recovery: | | | | | | | | | | | | | | Regulatory Assets Currently Earning a Return | | | | | | | Plant Retirement Costs - Unrecovered Plant | | 550.6 |
| | 539.3 |
| | 28 years | Ohio Phase-In Recovery Rider | | 218.9 |
| | 304.5 |
| | 2 years | Ohio Capacity Deferral | | 201.9 |
| | 358.7 |
| | 2 years | Meter Replacement Costs | | 99.9 |
| | 90.4 |
| | 11 years | Ohio Distribution Decoupling | | 41.8 |
| | 37.5 |
| | 2 years | Advanced Metering System | | 20.9 |
| | 3.6 |
| | 4 years | Basic Transmission Cost Rider | | 19.9 |
| | — |
| | 2 years | West Virginia Delayed Customer Billing | | 19.5 |
| | — |
| | 2 years | Asset Removal Costs | | 18.7 |
| | 38.1 |
| | (a) | Mitchell Plant Transfer | | 18.5 |
| | 19.3 |
| | 24 years | Plant Retirement Costs - Asset Retirement Obligation Costs | | 18.3 |
| | 7.6 |
| | 24 years | Storm Related Costs | | 15.3 |
| | 8.8 |
| | 3 years | Red Rock Generating Facility | | 9.1 |
| | 9.3 |
| | 40 years | Ohio Transmission Cost Recovery Rider | | — |
| | 12.3 |
| |
| Other Regulatory Assets Approved for Recovery | | 27.6 |
| | 25.5 |
| | various | Regulatory Assets Currently Not Earning a Return | | | | | | | Income Taxes, Net (c) | | 1,575.0 |
| | 1,385.3 |
| | 62 years | Pension and OPEB Funded Status | | 1,516.2 |
| | 1,410.5 |
| | 12 years | Unamortized Loss on Reacquired Debt | | 137.8 |
| | 148.7 |
| | 29 years | Unrealized Loss on Forward Commitments | | 119.1 |
| | 10.7 |
| | 16 years | Cook Plant Nuclear Refueling Outage Levelization | | 75.2 |
| | 26.8 |
| | 3 years | Storm Related Costs | | 58.7 |
| | 94.6 |
| | 4 years | Peak Demand Reduction/Energy Efficiency | | 49.9 |
| | 33.3 |
| | 5 years | Plant Retirement Costs - Asset Retirement Obligation Costs | | 48.9 |
| | 58.0 |
| | 24 years | Postemployment Benefits | | 39.1 |
| | 42.6 |
| | 5 years | Virginia Transmission Rate Adjustment Clause | | 38.7 |
| | 74.6 |
| | 2 years | Medicare Subsidy | | 37.2 |
| | 41.8 |
| | 8 years | Vegetation Management | | 31.4 |
| | 36.9 |
| | 5 years | Off-system Sales Margin Sharing - Indiana | | 24.3 |
| | 6.8 |
| | 2 years | OVEC Purchased Power | | 22.1 |
| | — |
| | 2 years |
| | | | | | | | | | | | United Mine Workers of America Pension Withdrawal | | 20.2 |
| | 14.4 |
| | 6 years | Deferred System Reliability Rider Expenses | | 12.5 |
| | 9.9 |
| | 1 year | SPP Base Plan Fees | | 10.7 |
| | — |
| | 2 years | Carbon Capture and Storage Product Validation Facility | | 9.1 |
| | 11.7 |
| | 4 years | IGCC Pre-Construction Costs | | 8.6 |
| | 10.9 |
| | 24 years | Transmission Cost Recovery Factor | | 5.3 |
| | 9.9 |
| | 1 year | Distribution Investment Rider | | 2.0 |
| | 12.3 |
| | 2 years | Other Regulatory Assets Approved for Recovery | | 52.5 |
| | 77.8 |
| | various | Total Regulatory Assets Approved for Recovery | | 5,175.4 |
| | 4,972.4 |
| | | | | | | | | | Total Noncurrent Regulatory Assets | | $ | 5,625.5 |
| | $ | 5,140.3 |
| | |
| | (a) | As a regulated entity, removal costs accrued are typically recorded as regulatory liabilities when removal costs accrued exceed actual removal costs incurred. The asset removal costs liability is relieved as removal costs are incurred. As of December 31, 2016, KPCo’s accumulated actual removal cost incurred exceeded accumulated removal cost accrued, creating an asset balance. As a result, the balance was reclassified to a regulatory asset. Within the next two years, KPCo’s removal costs accrued are expected to exceed removal costs incurred resulting in a regulatory liability. |
| | (b) | As of December 31, 2016, APCo has deferred a total of $91 million as charges to accumulated depreciation related to certain plant retirements in 2015. APCo intends to address the need for depreciation rate increases in a subsequent base rate cases. |
| | (c) | Includes $320 million and $288 million as of December 31, 2016 and 2015, respectively, expected to be recovered in formula rates. |
| | | | | | | | | | | | | | AEP | | | December 31, | | Remaining | | | 2016 | | 2015 | | Refund Period | Current Regulatory Liabilities | | (in millions) | | | Over-recovered Fuel Costs - pays a return | | $ | 3.8 |
| | $ | 84.8 |
| | 1 year | Over-recovered Fuel Costs - does not pay a return | | 4.2 |
| | 29.1 |
| | 1 year | Total Current Regulatory Liabilities | | $ | 8.0 |
| | $ | 113.9 |
| | | | | | | | | | Noncurrent Regulatory Liabilities and Deferred Investment Tax Credits | | | | | | | Regulatory liabilities pending final regulatory determination: | | | | | | | | | | | | | | Regulatory Liabilities Currently Not Paying a Return | | | | | | | Provision for Regulatory Loss | | $ | — |
| | $ | 40.6 |
| | | Other Regulatory Liabilities Pending Final Regulatory Determination | | 0.8 |
| | 0.2 |
| | | Total Regulatory Liabilities Pending Final Regulatory Determination | | 0.8 |
| | 40.8 |
| | | | | | | | | | Regulatory liabilities approved for payment: | | | | | | | | | | | | | | Regulatory Liabilities Currently Paying a Return | | | | | | | Asset Removal Costs (a) | | 2,627.5 |
| | 2,656.5 |
| | (b) | Advanced Metering Infrastructure Surcharge | | 17.0 |
| | 21.2 |
| | 4 years | Louisiana Refundable Construction Financing Costs | | 16.2 |
| | 37.4 |
| | 2 years | Deferred Investment Tax Credits | | 12.6 |
| | 14.7 |
| | 42 years | Excess Earnings | | 10.0 |
| | 10.6 |
| | 37 years | Other Regulatory Liabilities Approved for Payment | | 1.6 |
| | 20.5 |
| | various | Regulatory Liabilities Currently Not Paying a Return | | | | | | | Excess Nuclear Decommissioning Funding | | 731.2 |
| | 636.5 |
| | (c) | Deferred Investment Tax Credits | | 132.9 |
| | 113.3 |
| | 46 years | Spent Nuclear Fuel | | 44.2 |
| | 43.4 |
| | (c) | Transition Charges | | 40.5 |
| | 46.5 |
| | 11 years | Peak Demand Reduction/Energy Efficiency | | 34.0 |
| | 5.3 |
| | 2 years | Enhanced Service Reliability Plan | | 21.7 |
| | 8.0 |
| | 2 years | gridSMART® Costs | | 11.9 |
| | — |
| | 2 years | Advanced Metering Costs | | 11.5 |
| | 11.4 |
| | 1 year | Unrealized Gain on Forward Commitments | | 6.2 |
| | 33.8 |
| | 2 years | Deferred Wind Power Costs | | 2.1 |
| | 11.8 |
| | 1 year | Other Regulatory Liabilities Approved for Payment | | 29.4 |
| | 24.4 |
| | various | Total Regulatory Liabilities Approved for Payment | | 3,750.5 |
| | 3,695.3 |
| | | | | | | | | | Total Noncurrent Regulatory Liabilities and Deferred Investment Tax Credits | | $ | 3,751.3 |
| | $ | 3,736.1 |
| | |
| | (a) | As of December 31, 2016, I&M also charged $43 million to asset removal costs related to various Tanners Creek Plant related assets, primarily related to the net book value of ARO assets. The Indiana and Michigan retail jurisdictions of I&M have increased depreciation rates on Rockport Plant to recover the net book value of Tanners Creek Plant that was retired in 2015. I&M intends to address the need for increases in depreciation rates to recover the deferral in its next Indiana and Michigan base rate cases. |
| | (b) | Relieved as removal costs are incurred. |
| | (c) | Relieved when plant is decommissioned. |
| | | | | | | | | | | | | | APCo | | | December 31, | | Remaining Recovery Period | Regulatory Assets: | | 2016 | | 2015 | | | | (in millions) | | | Current Regulatory Assets | | | | | | | Under-recovered Fuel Costs - earns a return | | $ | 6.2 |
| | $ | 27.3 |
| | 1 year | Under-recovered Fuel Costs - does not earn a return | | 62.2 |
| | 59.6 |
| | 1 year | Total Current Regulatory Assets | | $ | 68.4 |
| | $ | 86.9 |
| | | | | | | | | | Noncurrent Regulatory Assets | | | | | | | Regulatory assets pending final regulatory approval: | | | | | | | | | | | | | | Regulatory Assets Currently Earning a Return | | | | | | | Plant Retirement Costs - Materials and Supplies | | $ | 9.1 |
| | $ | 9.3 |
| | | Regulatory Assets Currently Not Earning a Return | | | | | | | Plant Retirement Costs - Asset Retirement Obligation Costs | | 29.6 |
| | 32.7 |
| | | Peak Demand Reduction/Energy Efficiency - Virginia | | — |
| | 12.7 |
| | | Amos Plant Transfer Costs - West Virginia | | — |
| | 2.0 |
| | | Other Regulatory Assets Pending Final Regulatory Approval | | 0.6 |
| | 0.6 |
| | | Total Regulatory Assets Pending Final Regulatory Approval (a) | | 39.3 |
| | 57.3 |
| | | | | | | | | | Regulatory assets approved for recovery: | | | | | | | | | | | | | | Regulatory Assets Currently Earning a Return | | | | | | | Plant Retirement Costs - Unrecovered Plant - West Virginia | | 85.4 |
| | 86.5 |
| | 27 years | West Virginia Delayed Customer Billing | | 18.1 |
| | — |
| | 2 years | Storm Related Costs - Virginia | | 4.6 |
| | 8.8 |
| | 2 years | RTO Formation/Integration Costs | | 1.6 |
| | 2.1 |
| | 3 years | Other Regulatory Assets Approved for Recovery | | 0.6 |
| | — |
| | various | Regulatory Assets Currently Not Earning a Return | | | | | | | Income Taxes, Net (b) | | 463.5 |
| | 441.7 |
| | 26 years | Pension and OPEB Funded Status | | 221.4 |
| | 217.6 |
| | 12 years | Unamortized Loss on Reacquired Debt | | 97.2 |
| | 101.5 |
| | 29 years | Storm Related Costs - West Virginia | | 47.8 |
| | 63.5 |
| | 4 years | Virginia Transmission Rate Adjustment Clause | | 38.7 |
| | 74.6 |
| | 2 years | Vegetation Management Program - West Virginia | | 31.4 |
| | 31.2 |
| | 5 years | Peak Demand Reduction/Energy Efficiency | | 19.2 |
| | 3.5 |
| | 4 years | Postemployment Benefits | | 17.4 |
| | 19.6 |
| | 5 years | Carbon Capture and Storage Product Validation Facility - West Virginia, FERC | | 9.1 |
| | 11.7 |
| | 4 years | IGCC Pre-Construction Costs - West Virginia, FERC | | 7.4 |
| | 9.6 |
| | 4 years | Virginia Generation Rate Adjustment Clause | | 6.5 |
| | 5.2 |
| | 2 years | Medicare Subsidy - West Virginia, FERC | | 4.7 |
| | 5.3 |
| | 8 years | Uncollected Accounts - West Virginia | | 2.7 |
| | 3.5 |
| | 4 years | Deferred Restructuring Costs - West Virginia | | 2.5 |
| | 4.5 |
| | 2 years | Carbon Capture and Storage Commercial Scale Facility - West Virginia, FERC | | 1.0 |
| | 1.2 |
| | 6 years | Asset Retirement Obligation | | 0.6 |
| | 2.4 |
| | 1 year | Transmission Agreement Phase-In - West Virginia | | — |
| | 1.7 |
| |
| Other Regulatory Assets Approved for Recovery | | 0.4 |
| | 1.2 |
| | various | Total Regulatory Assets Approved for Recovery | | 1,081.8 |
| | 1,096.9 |
| | | | | | | | | | Total Noncurrent Regulatory Assets | | $ | 1,121.1 |
| | $ | 1,154.2 |
| | |
| | (a) | As of December 31, 2016, APCo has also deferred $91 million as a charge to accumulated depreciation related to the net book value of certain plants retired in 2015, primarily in its Virginia jurisdiction. These plants were normal retirements and not abandonments. APCo intends to address the need for an increase in its Virginia depreciation rates in March 2020, as part of its 2018-2019 Virginia biennial filing. |
| | (b) | Includes $64 million and $59 million as of December 31, 2016 and 2015, respectively, expected to be recovered in formula rates. |
| | | | | | | | | | | | | | APCo | | | December 31, | | Remaining Refund Period | Regulatory Liabilities: | | 2016 | | 2015 | | | | (in millions) | | | Noncurrent Regulatory Liabilities and Deferred Investment Tax Credits | | | | | | | Regulatory liabilities approved for payment: | | | | | | | | | | | | | | Regulatory Liabilities Currently Paying a Return | | | | | | | Asset Removal Costs | | $ | 616.9 |
| | $ | 612.9 |
| | (a) | Deferred Investment Tax Credits | | 0.9 |
| | 1.0 |
| | 42 years | Regulatory Liabilities Currently Not Paying a Return | | | | | | | Consumer Rate Relief - West Virginia | | 5.1 |
| | 2.9 |
| | 1 year | Deferred Wind Power Costs - Virginia | | 2.1 |
| | 11.8 |
| | 1 year | Energy Efficiency Rate Adjustment Clause - Virginia | | 1.5 |
| | — |
| | 2 years | Unrealized Gain on Forward Commitments | | 1.3 |
| | 8.4 |
| | 2 years | Other Regulatory Liabilities Approved for Payment | | — |
| | 0.1 |
| | various | Total Regulatory Liabilities Approved for Payment | | 627.8 |
| | 637.1 |
| | | | | | | | | | Total Noncurrent Regulatory Liabilities and Deferred Investment Tax Credits | | $ | 627.8 |
| | $ | 637.1 |
| | |
| | (a) | Relieved as removal costs are incurred. |
| | | | | | | | | | | | | | I&M | | | December 31, | | Remaining Recovery Period | Regulatory Assets: | | 2016 | | 2015 | | | | (in millions) | | | Current Regulatory Assets | | | | | | | Under-recovered Fuel Costs - earns a return | | $ | 13.0 |
| | $ | 7.5 |
| | 1 year | Under-recovered Fuel Costs - does not earn a return | | 13.1 |
| | 4.1 |
| | 1 year | Total Current Regulatory Assets | | $ | 26.1 |
| | $ | 11.6 |
| | | | | | | | | | Noncurrent Regulatory Assets | | | | | | | Regulatory assets pending final regulatory approval: | | | | | | | | | | | | | | Regulatory Assets Currently Earning a Return | | | | | | | Plant Retirement Costs - Materials and Supplies | | $ | — |
| | $ | 11.6 |
| | | Regulatory Assets Currently Not Earning a Return | | | | | | | Cook Uprate Project | | 36.3 |
| | — |
| | | Cook Plant Turbine | | 12.8 |
| | 9.7 |
| | | Deferred Cook Plant Life Cycle Management Project Costs - Michigan | | 8.1 |
| | 4.2 |
| | | Rockport Plant Dry Sorbent Injection System - Indiana | | 6.6 |
| | 2.8 |
| | | Plant Retirement Costs - Asset Retirement Obligation Costs - Indiana | | — |
| | 27.1 |
| | | Stranded Costs on Abandoned Plants | | — |
| | 3.9 |
| | | Other Regulatory Assets Pending Final Regulatory Approval | | 0.9 |
| | — |
| | | Total Regulatory Assets Pending Final Regulatory Approval | | 64.7 |
| | 59.3 |
| | | | | | | | | | Regulatory assets approved for recovery: | | | | | | | | | | | | | | Regulatory Assets Currently Earning a Return | | | | | | | Plant Retirement Costs - Unrecovered Plant | | 252.8 |
| | 260.3 |
| | 28 years | Cook Plant, Unit 2 Baffle Bolts - Indiana | | 6.3 |
| | 6.6 |
| | 22 years | RTO Formation/Integration Costs | | 1.2 |
| | 1.5 |
| | 3 years | Other Regulatory Assets Approved for Recovery | | 1.3 |
| | 1.0 |
| | various | Regulatory Assets Currently Not Earning a Return | | | | | | | Income Taxes, Net (a) | | 302.6 |
| | 246.8 |
| | 32 years | Pension and OPEB Funded Status | | 141.9 |
| | 126.4 |
| | 12 years | Cook Plant Nuclear Refueling Outage Levelization | | 75.2 |
| | 26.8 |
| | 3 years | Off-system Sales Margin Sharing - Indiana | | 24.3 |
| | 6.8 |
| | 2 years | Postemployment Benefits | | 11.4 |
| | 10.7 |
| | 5 years | Unamortized Loss on Reacquired Debt | | 10.7 |
| | 12.0 |
| | 16 years | Medicare Subsidy | | 8.2 |
| | 9.2 |
| | 8 years | Litigation Settlement - Indiana | | 7.6 |
| | 8.6 |
| | 9 years | River Transportation Division Expenses | | 3.7 |
| | — |
| | 1 year | Peak Demand Reduction/Energy Efficiency | | 3.6 |
| | 10.6 |
| | 2 years | Capacity Costs - Indiana | | 0.4 |
| | 7.5 |
| | 1 year | Unrealized Loss on Forward Commitments | | 0.1 |
| | 3.2 |
| | 2 years | PJM Expense - Indiana | | — |
| | 4.1 |
| |
| Storm Related Costs - Indiana | | — |
| | 1.8 |
| |
| Other Regulatory Assets Approved for Recovery | | 0.6 |
| | 1.1 |
| | various | Total Regulatory Assets Approved for Recovery | | 851.9 |
| | 745.0 |
| | | | | | | | | | Total Noncurrent Regulatory Assets | | $ | 916.6 |
| | $ | 804.3 |
| | |
| | (a) | Includes $74 million and $69 million as of December 31, 2016 and 2015, respectively, expected to be recovered in formula rates. |
| | | | | | | | | | | | | | I&M | | | December 31, | | Remaining Refund Period | Regulatory Liabilities: | | 2016 | | 2015 | | | | (in millions) | | | Current Regulatory Liabilities | | | | | | | Over-recovered Fuel Costs - pays a return | | $ | — |
| | $ | 0.3 |
| |
| Total Current Regulatory Liabilities | | $ | — |
| | $ | 0.3 |
| | | | | | | | | | Noncurrent Regulatory Liabilities and Deferred Investment Tax Credits | | | | | | | Regulatory liabilities approved for payment: | | | | | | | | | | | | | | Regulatory Liabilities Currently Paying a Return | | | | | | | Asset Removal Costs (a) | | $ | 236.5 |
| | $ | 350.6 |
| | (b) | Regulatory Liabilities Currently Not Paying a Return | | | | | | | Excess Nuclear Decommissioning Funding | | 731.2 |
| | 636.5 |
| | (c) | Spent Nuclear Fuel | | 44.2 |
| | 43.4 |
| | (c) | Deferred Investment Tax Credits | | 38.8 |
| | 35.0 |
| | 20 years | Deferred Cook Plant Life Cycle Management Project Costs - Indiana | | 4.6 |
| | — |
| | 3 years | PJM Expense - Indiana | | 4.2 |
| | — |
| | 2 years | Unrealized Gain on Forward Commitments | | 2.4 |
| | 7.1 |
| | 2 years | Rockport Plant Dry Sorbent Injection | | 1.7 |
| | 0.4 |
| | 2 years | Storm Related Costs - Indiana | | 1.2 |
| | — |
| | 1 year | River Transportation Division Expenses | | — |
| | 1.9 |
| |
| Other Regulatory Liabilities Approved for Payment | | 0.7 |
| | 1.3 |
| | various | Total Regulatory Liabilities Approved for Payment | | 1,065.5 |
| | 1,076.2 |
| | | | | | | | | | Total Noncurrent Regulatory Liabilities and Deferred Investment Tax Credits | | $ | 1,065.5 |
| | $ | 1,076.2 |
| | |
| | (a) | As of December 31, 2016, I&M has charged $43 million to asset removal costs related to various Tanners Creek Plant related assets, primarily related to the net book value of ARO assets. The Indiana and Michigan retail jurisdictions of I&M have increased depreciation rates on Rockport Plant to recover the net book value of Tanners Creek Plant that was retired in 2015. I&M intends to address the need for increases in depreciation rates to recover the deferral in its next Indiana and Michigan base rate cases. |
| | (b) | Relieved as removal costs are incurred. |
| | (c) | Relieved when plant is decommissioned. |
| | | | | | | | | | | | | | OPCo | | | December 31, | | Remaining Recovery Period | Regulatory Assets: | | 2016 |
| 2015 | | | | (in millions) | | | Noncurrent Regulatory Assets | | | | | | | Regulatory assets pending final regulatory approval: | | | | | | | | | | | | | | Regulatory Assets Currently Earning a Return | | | | | | | Capacity Deferral | | $ | 96.7 |
| | $ | — |
| | | Regulatory Assets Currently Not Earning a Return | | | | | | | gridSMART® Costs | | 4.1 |
| | 1.3 |
| | | Total Regulatory Assets Pending Final Regulatory Approval | | 100.8 |
| | 1.3 |
| | | | | | | | | | Regulatory assets approved for recovery: | | | | | | | | | | | | | | Regulatory Assets Currently Earning a Return | | | | | | | Phase-In Recovery Rider | | 218.9 |
| | 304.5 |
| | 2 years | Capacity Deferral | | 201.9 |
| | 358.7 |
| | 2 years | Distribution Decoupling | | 41.8 |
| | 37.5 |
| | 2 years | Basic Transmission Cost Rider | | 19.9 |
| | — |
| | 2 years | RTO Formation/Integration Costs | | 2.5 |
| | 3.1 |
| | 3 years | Economic Development Rider | | 1.7 |
| | — |
| | 2 years | Transmission Cost Recovery Rider | | — |
| | 12.3 |
| |
| Regulatory Assets Currently Not Earning a Return | | | | | | | Pension and OPEB Funded Status | | 225.2 |
| | 219.4 |
| | 12 years | Income Taxes, Net (a) | | 126.4 |
| | 129.0 |
| | 28 years | Unrealized Loss on Forward Commitments | | 118.6 |
| | — |
| | 16 years | OVEC Purchased Power | | 22.1 |
| | — |
| | 2 years | Unamortized Loss on Reacquired Debt | | 9.1 |
| | 10.4 |
| | 22 years | Medicare Subsidy | | 8.3 |
| | 9.3 |
| | 8 years | Postemployment Benefits | | 6.8 |
| | 7.3 |
| | 5 years | Distribution Investment Rider | | 2.0 |
| | 12.3 |
| | 2 years | Partnership with Ohio Contribution | | 1.4 |
| | 2.4 |
| | 2 years | gridSMART® Costs | | — |
| | 4.5 |
| |
| Other Regulatory Assets Approved for Recovery | | 0.1 |
| | 1.0 |
| | various | Total Regulatory Assets Approved for Recovery | | 1,006.7 |
| | 1,111.7 |
| | | | | | | | | | Total Noncurrent Regulatory Assets | | $ | 1,107.5 |
| | $ | 1,113.0 |
| | |
| | (a) | Includes $76 million and $82 million as of December 31, 2016 and 2015, respectively, expected to be recovered in formula rates. |
| | | | | | | | | | | | | | OPCo | | | December 31, | | Remaining Refund Period | | | 2016 | | 2015 | | Regulatory Liabilities: | | (in millions) | | | | | | | | | | Current Regulatory Liabilities | | | | | | | Over-recovered Fuel Costs - does not pay a return | | $ | 4.2 |
| | $ | 27.6 |
| | 1 year | Total Current Regulatory Liabilities | | $ | 4.2 |
| | $ | 27.6 |
| | | | | | | | | | Noncurrent Regulatory Liabilities and Deferred Investment Tax Credits | | | | | | | Regulatory liabilities pending final regulatory determination: | | | | | | | | | | | | | | Regulatory Liabilities Currently Not Paying a Return | | | | | | | Provision for Regulatory Loss | | $ | — |
| | $ | 40.6 |
| | | Other Regulatory Liabilities Pending Final Regulatory Determination | | 0.2 |
| | 0.2 |
| | | Total Regulatory Liabilities Pending Final Regulatory Determination | | 0.2 |
| | 40.8 |
| | | | | | | | | | Regulatory liabilities approved for payment: | | | | | | | | | | | | | | Regulatory Liabilities Currently Paying a Return | | | | | | | Asset Removal Costs | | 432.4 |
| | 422.3 |
| | (a) | Basic Transmission Cost Rider | | 0.3 |
| | 4.9 |
| | 2 years | Economic Development Rider | | — |
| | 5.0 |
| |
| Regulatory Liabilities Currently Not Paying a Return | | | | | | | Peak Demand Reduction/Energy Efficiency | | 29.0 |
| | 1.5 |
| | 2 years | Enhanced Service Reliability Plan | | 21.7 |
| | 8.0 |
| | 2 years | gridSMART® Costs | | 11.9 |
| | — |
| | 2 years | Storm Related Costs | | 5.3 |
| | 1.3 |
| | 2 years | Deferred Asset Phase-In Rider | | 4.5 |
| | 5.1 |
| | 4 years | Unrealized Gain on Forward Commitments | | — |
| | 15.3 |
| |
| Regulatory Settlement | | — |
| | 9.0 |
| |
| Other Regulatory Liabilities Approved for Payment | | 0.9 |
| | 1.0 |
| | various | Total Regulatory Liabilities Approved for Payment | | 506.0 |
| | 473.4 |
| | | | | | | | | | Total Noncurrent Regulatory Liabilities and Deferred Investment Tax Credits | | $ | 506.2 |
| | $ | 514.2 |
| | |
(a) Relieved as removal costs are incurred. | | | | | | | | | | | | | | PSO | | | December 31, | | Remaining Recovery Period | | | 2016 | | 2015 | | Regulatory Assets: | | (in millions) | | | | | | | | | | Current Regulatory Assets | | | | | | | Under-recovered Fuel Costs - earns a return | | $ | 33.8 |
| | $ | — |
| | 1 year | Total Current Regulatory Assets | | $ | 33.8 |
| | $ | — |
| | | | | | | | | | Noncurrent Regulatory Assets | | | | | | | Regulatory assets pending final regulatory approval: | | | | | | | | | | | | | | Regulatory Assets Currently Earning a Return | | | | | | | Plant Retirement Costs - Unrecovered Plant | | $ | 84.5 |
| | $ | — |
| | | Other Regulatory Assets Pending Final Regulatory Approval | | 0.5 |
| | — |
| | | Regulatory Assets Currently Not Earning a Return | | | | | | | Storm Related Costs | | 20.0 |
| | 12.3 |
| | | Environmental Control Projects | | 13.1 |
| | — |
| | | Other Regulatory Assets Pending Final Regulatory Approval | | — |
| | 1.1 |
| | | Total Regulatory Assets Pending Final Regulatory Approval | | 118.1 |
| | 13.4 |
| | | | | | | | | | Regulatory assets approved for recovery: | | | | | | | | | | | | | | Regulatory Assets Currently Earning a Return | | | | | | | Meter Replacement Costs | | 50.1 |
| | 35.8 |
| | 8 years | Storm Related Costs | | 10.8 |
| | — |
| | 3 years | Red Rock Generating Facility | | 9.1 |
| | 9.3 |
| | 40 years | Regulatory Assets Currently Not Earning a Return | | | | | | | Pension and OPEB Funded Status | | 98.1 |
| | 95.1 |
| | 12 years | Deferred System Reliability Rider Expenses | | 12.5 |
| | 9.9 |
| | 1 year | Storm Related Costs | | — |
| | 15.4 |
| | | SPP Base Plan Fees | | 10.7 |
| | — |
| | 2 years | Peak Demand Reduction/Energy Efficiency | | 10.3 |
| | 11.8 |
| | 2 years | Income Taxes, Net | | 9.3 |
| | 6.1 |
| | 33 years | Unamortized Loss on Reacquired Debt | | 5.8 |
| | 6.8 |
| | 16 years | Medicare Subsidy | | 3.9 |
| | 4.4 |
| | 8 years | Rate Case Expenses | | 1.4 |
| | 1.2 |
| | 1 year | Vegetation Management | | — |
| | 4.5 |
| |
| Other Regulatory Assets Approved for Recovery | | 0.1 |
| | 1.1 |
| | various | Total Regulatory Assets Approved for Recovery | | 222.1 |
| | 201.4 |
| | | | | | | | | | Total Noncurrent Regulatory Assets | | $ | 340.2 |
| | $ | 214.8 |
| | |
| | | | | | | | | | | | | | PSO | | | December 31, | | Remaining Refund Period | | | 2016 | | 2015 | | Regulatory Liabilities: | | (in millions) | | | | | | | | | | Current Regulatory Liabilities | | | | | | | Over-recovered Fuel Costs - pays a return | | $ | — |
| | $ | 76.1 |
| |
| Total Current Regulatory Liabilities | | $ | — |
| | $ | 76.1 |
| | | | | | | | | | Noncurrent Regulatory Liabilities and Deferred Investment Tax Credits | | | | | | | Regulatory liabilities approved for payment: | | | | | | | | | | | | | | Regulatory Liabilities Currently Paying a Return | | | | | | | Asset Removal Costs | | $ | 279.3 |
| | $ | 275.5 |
| | (a) | Regulatory Liabilities Currently Not Paying a Return | | | | | | | Deferred Investment Tax Credits | | 48.0 |
| | 46.3 |
| | 38 years | Advanced Metering Costs | | 11.5 |
| | 11.4 |
| | 1 year | Base Plan Funding Costs | | — |
| | 1.3 |
| |
| Other Regulatory Liabilities Approved for Payment | | 0.9 |
| | 0.6 |
| | various | Total Regulatory Liabilities Approved for Payment | | 339.7 |
| | 335.1 |
| | | | | | | | | | Total Noncurrent Regulatory Liabilities and Deferred Investment Tax Credits | | $ | 339.7 |
| | $ | 335.1 |
| | |
| | (a) | Relieved as removal costs are incurred. |
| | | | | | | | | | | | | | SWEPCo | | | December 31, | | Remaining Recovery Period | | | 2016 | | 2015 | | Regulatory Assets: | | (in millions) | | | | | | | | | | Current Regulatory Assets | | | | | | | Under-recovered Fuel Costs - earns a return | | $ | 8.4 |
| | $ | 4.1 |
| | 1 year | Total Current Regulatory Assets | | $ | 8.4 |
| | $ | 4.1 |
| | | | | | | | | | Noncurrent Regulatory Assets | | | | | | | Regulatory assets pending final regulatory approval: | | | | | | | | | | | | | | Regulatory Assets Currently Earning a Return | | | | | | | Plant Retirement Costs - Unrecovered Plant | | $ | 75.4 |
| | $ | — |
| | | Other Regulatory Assets Pending Final Regulatory Approval | | 0.8 |
| | — |
| | | Regulatory Assets Currently Not Earning a Return | | | | | | | Environmental Controls Projects | | 11.0 |
| | — |
| | | Shipe Road Transmission Project - FERC | | 3.1 |
| | 3.1 |
| | | Asset Retirement Obligation - Arkansas, Louisiana | | 2.7 |
| | 1.7 |
| | | Rate Case Expense - Texas | | 1.0 |
| | 0.3 |
| | | Other Regulatory Assets Pending Final Regulatory Approval | | 1.9 |
| | 0.8 |
| | | Total Regulatory Assets Pending Final Regulatory Approval | | 95.9 |
| | 5.9 |
| | | | | | | | | | Regulatory assets approved for recovery: | | | | | | | | | | | | | | Regulatory Assets Currently Earning a Return | | | | | | | Other Regulatory Assets Approved for Recovery | | 1.3 |
| | 0.2 |
| | various | Regulatory Assets Currently Not Earning a Return | | | | | | | Income Taxes, Net | | 314.2 |
| | 271.9 |
| | 34 years | Pension and OPEB Funded Status | | 119.8 |
| | 108.9 |
| | 12 years | Unamortized Loss on Reacquired Debt | | 5.4 |
| | 6.0 |
| | 27 years | Medicare Subsidy | | 4.3 |
| | 4.8 |
| | 8 years | Rate Case Expense - Texas | | 4.2 |
| | 6.8 |
| | 2 years | Peak Demand Reduction/Energy Efficiency | | 3.0 |
| | 1.0 |
| | 2 years | Deferred Restructuring Costs - Louisiana | | 1.9 |
| | 3.5 |
| | 2 years | Unrealized Loss on Forward Commitments | | 0.3 |
| | 5.5 |
| | 1 year | Other Regulatory Assets Approved for Recovery | | 0.9 |
| | 1.3 |
| | various | Total Regulatory Assets Approved for Recovery | | 455.3 |
| | 409.9 |
| | | | | | | | | | Total Noncurrent Regulatory Assets | | $ | 551.2 |
| | $ | 415.8 |
| | |
| | | | | | | | | | | | | | SWEPCo | | | December 31, | | Remaining Refund Period | | | 2016 | | 2015 | | Regulatory Liabilities: | | (in millions) | | | | | | | | | | Current Regulatory Liabilities | | | | | | | Over-recovered Fuel Costs - pays a return | | $ | 3.8 |
| | $ | 8.4 |
| | 1 year | Total Current Regulatory Liabilities | | $ | 3.8 |
| | $ | 8.4 |
| | | | | | | | | | Noncurrent Regulatory Liabilities and Deferred Investment Tax Credits | | | | | | | Regulatory liabilities approved for payment: | | | | | | | | | | | | | | Regulatory Liabilities Currently Paying a Return | | | | | | | Asset Removal Costs | | $ | 409.7 |
| | $ | 396.8 |
| | (a) | Refundable Construction Financing Costs - Louisiana | | 16.2 |
| | 37.4 |
| | 2 years | Excess Earnings - Texas | | 2.7 |
| | 2.7 |
| | 37 years | Generation Recovery Rider Costs - Arkansas | | 1.2 |
| | 1.5 |
| | 2 years | Regulatory Liabilities Currently Not Paying a Return | | | | | | | Deferred Investment Tax Credits | | 7.3 |
| | 8.5 |
| | 14 years | Other Regulatory Liabilities Approved for Payment | | 1.8 |
| | 1.9 |
| | various | Total Regulatory Liabilities Approved for Payment | | 438.9 |
| | 448.8 |
| | | | | | | | | | Total Noncurrent Regulatory Liabilities and Deferred Investment Tax Credits | | $ | 438.9 |
| | $ | 448.8 |
| | |
| | (a) | Relieved as removal costs are incurred. |
|