Rate Matters (Tables)

3 Months Ended

Mar. 31, 2022

Regulated Generating Units to be Retired

Plant	Net Book Value		Accelerated Depreciation Regulatory Asset		Cost of Removal Regulatory Liability			Projected Retirement Date	Current Authorized Recovery Period	Annual Depreciation (a)
	(dollars in millions)
Northeastern Plant, Unit 3	$	159.1	$	132.5	$	20.1	(b)	2026	(c)	$	14.9
Pirkey Power Plant	99.6		107.7		39.3			2023	(d)	13.4
Welsh Plant, Units 1 and 3	467.2		55.7		58.6		(e)	2028	(f)	37.3

(a)Represents the amount of annual depreciation that has been collected from customers over the prior 12-month period.

(b)Includes Northeastern Plant, Unit 4, which was retired in 2016. Removal of Northeastern Plant, Unit 4, will be performed with Northeastern Plant, Unit 3, after retirement.

(c)Northeastern Plant, Unit 3 is currently being recovered through 2040.

(d)Pirkey Power Plant is currently being recovered through 2025 in the Louisiana jurisdiction and through 2045 in the Arkansas and Texas jurisdictions.

(e)Includes Welsh Plant, Unit 2, which was retired in 2016. Removal of Welsh Plant, Unit 2, will be performed with Welsh Plant, Units 1 and 3, after retirement.

(f)Unit 1 is being recovered through 2027 in the Louisiana jurisdiction and through 2037 in the Arkansas and Texas jurisdictions. Unit 3 is being recovered through 2032 in the Louisiana jurisdiction and through 2042 in the Arkansas and Texas jurisdictions.

Regulatory Assets Pending Final Regulatory Approval

	AEP
	March 31,		December 31,
	2022		2021
Noncurrent Regulatory Assets	(in millions)
Regulatory Assets Currently Earning a Return
Unrecovered Winter Storm Fuel Costs (a)	$	236.8	$	430.2
Pirkey Power Plant Accelerated Depreciation	107.7		87.0
Dolet Hills Power Station Accelerated Depreciation	72.2		72.3
Welsh Plant, Units 1 and 3 Accelerated Depreciation	55.7		45.9
Plant Retirement Costs – Unrecovered Plant, Louisiana	35.2		35.2
Dolet Hills Power Station Fuel Costs - Louisiana	31.3		30.9
Other Regulatory Assets Pending Final Regulatory Approval	10.5		9.2
Regulatory Assets Currently Not Earning a Return
Storm-Related Costs	279.6		256.9
Plant Retirement Costs – Asset Retirement Obligation Costs	25.9		25.9
COVID-19	11.9		11.2
Other Regulatory Assets Pending Final Regulatory Approval	46.1		43.9
Total Regulatory Assets Pending Final Regulatory Approval	$	912.9	$	1,048.6

(a) Includes $63 million and $63 million of unrecovered winter storm fuel costs recorded as a current regulatory asset as of March 31, 2022 and December 31, 2021, respectively.

	AEP Texas
	March 31,		December 31,
	2022		2021
Noncurrent Regulatory Assets	(in millions)
Regulatory Assets Currently Earning a Return
Mobile Generation Lease Payments	$	1.3	$	—
Regulatory Assets Currently Not Earning a Return
Storm-Related Costs	23.6		22.4
Vegetation Management Program	5.2		5.2
Texas Retail Electric Provider Bad Debt Expense	4.1		4.1
COVID-19	3.6		2.1
Other Regulatory Assets Pending Final Regulatory Approval	8.0		7.4
Total Regulatory Assets Pending Final Regulatory Approval	$	45.8	$	41.2

	APCo
	March 31,		December 31,
	2022		2021
Noncurrent Regulatory Assets	(in millions)
Regulatory Assets Currently Earning a Return
COVID-19 – Virginia	$	6.8	$	6.8
Regulatory Assets Currently Not Earning a Return
Storm-Related Costs	75.2		68.8
Plant Retirement Costs – Asset Retirement Obligation Costs	25.9		25.9
Other Regulatory Assets Pending Final Regulatory Approval	5.0		3.6
Total Regulatory Assets Pending Final Regulatory Approval	$	112.9	$	105.1

	I&M
	March 31,		December 31,
	2022		2021
Noncurrent Regulatory Assets	(in millions)
Regulatory Assets Currently Earning a Return
Other Regulatory Assets Pending Final Regulatory Approval	$	0.1	$	0.1
Regulatory Assets Currently Not Earning a Return
COVID-19	0.2		1.7
Other Regulatory Assets Pending Final Regulatory Approval	0.8		1.9
Total Regulatory Assets Pending Final Regulatory Approval	$	1.1	$	3.7

	OPCo
	March 31,		December 31,
	2022		2021
Noncurrent Regulatory Assets	(in millions)
Regulatory Assets Currently Not Earning a Return
Storm-Related Costs	$	9.1	$	3.8
Total Regulatory Assets Pending Final Regulatory Approval	$	9.1	$	3.8

	PSO
	March 31,		December 31,
	2022		2021
Noncurrent Regulatory Assets	(in millions)
Regulatory Assets Currently Not Earning a Return
Storm-Related Costs	$	20.5	$	13.9
COVID-19	—		0.3
Total Regulatory Assets Pending Final Regulatory Approval	$	20.5	$	14.2

.

	SWEPCo
	March 31,		December 31,
	2022		2021
Noncurrent Regulatory Assets	(in millions)
Regulatory Assets Currently Earning a Return
Unrecovered Winter Storm Fuel Costs (a)	$	236.8	$	430.2
Pirkey Power Plant Accelerated Depreciation	107.7		87.0
Dolet Hills Power Station Accelerated Depreciation	72.2		72.3
Welsh Plant, Units 1 and 3 Accelerated Depreciation	55.7		45.9
Plant Retirement Costs – Unrecovered Plant, Louisiana	35.2		35.2
Dolet Hills Power Station Fuel Costs- Louisiana	31.3		30.9
Other Regulatory Assets Pending Final Regulatory Approval	2.3		2.4
Regulatory Assets Currently Not Earning a Return
Storm-Related Costs	151.2		148.0
Asset Retirement Obligation - Louisiana	10.6		10.3
Other Regulatory Assets Pending Final Regulatory Approval	20.0		18.4
Total Regulatory Assets Pending Final Regulatory Approval	$	723.0	$	880.6

(a) Includes $63 million and $63 million of unrecovered winter storm fuel costs recorded as a current regulatory asset as of March 31, 2022 and December 31, 2021, respectively.