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Ohio Power Co. - Utility Specimen Stock Certificate

Inv# SE1114A   Specimen Stock
Ohio Power Co. - Utility Specimen Stock Certificate
State(s): Ohio

Specimen Stock printed by American Bank Note Company.

American Electric Power (AEP), (railcar reporting mark: AEPX) is a major investor-owned electric utility in the United States, delivering electricity to more than five million customers in 11 states.

AEP ranks among the nation's largest generators of electricity, owning nearly 38,000 megawatts of generating capacity in the U.S. AEP also owns the nation's largest electricity transmission system, a nearly 39,000-mile (63,000 km) network that includes 765 kilovolt ultra-high voltage transmission lines, more than all other U.S. transmission systems combined. AEP's transmission system directly or indirectly serves about 10 percent of the electricity demand in the Eastern Interconnection, the interconnected transmission system that covers 38 eastern and central U.S. states and eastern Canada, and approximately 11 percent of the electricity demand in the Electric Reliability Council of Texas, the transmission system that covers much of Texas.

AEP's utility units operate as AEP Ohio, AEP Texas, Appalachian Power (in Virginia, West Virginia, and Tennessee), Indiana Michigan Power, Kentucky Power, Public Service Company of Oklahoma, and Southwestern Electric Power Company (in Arkansas, Louisiana and east Texas). AEP's headquarters are in Columbus, Ohio.

American Electric Power was the first utility to utilize 345 kV transmission lines which took place in 1953. The company ranked 185th on the 2018 Fortune 500 of the largest United States corporations by revenue.

The company is divided into seven major geographic local operating companies:

AEP Ohio serves 1.5 million customers in central, southern and northwestern Ohio. For years, it consisted of two operating companies, Ohio Power and Columbus Southern Power. However, in 2014, Columbus Southern was merged into Ohio Power, leaving Ohio Power as the legal operating company for regulatory purposes.

AEP Texas was formed from a merger of various predecessor utilities, and joined AEP as part of its acquisition of Central and South West Corporation in 1997. It consists of AEP Texas North Company (formerly West Texas Utilities), which operates in west Texas, and AEP Texas Central Company (formerly Central Power and Light), which operates in south Texas.

Appalachian Power (APCO) is based in Charleston, West Virginia and owns the naming rights to Appalachian Power Park in Charleston. APCO serves about one million customers in central and Southern West Virginia, the West Virginia Panhandle, Southwest Virginia and parts of Northeast Tennessee, specifically Kingsport. Cities in the Appalachian Power service territory include Wheeling, Charleston and Huntington, West Virginia; Roanoke, Virginia and Kingsport.

Until the 21st century, AEP's operations in Tennessee were part of a separate operating company, Kingsport Power Company. However, since the turn of the millennium, Kingsport Power's operations have been almost completely merged with those of Appalachian Power. While Kingsport Power still legally exists, the Kingsport Power name is almost never used anymore except for regulatory formality. AEP considers Appalachian Power to be the operating company in Kingsport.

Wheeling Power, based in Wheeling, was long treated as a de facto part of Ohio Power, but is now treated as part of Appalachian Power.

Indiana Michigan Power (I&M) serves northeastern and east central Indiana, including Muncie and Fort Wayne; and parts of north central Indiana and southwest Michigan, including South Bend, St. Joseph, Benton Harbor and Three Rivers. The Donald C. Cook nuclear power plant is located in I&M's territory.

Kentucky Power serves most of Eastern Kentucky, the area abutting the Appalachian Power service area, including communities of Pikeville, Hazard and Ashland. Kentucky Power headquarters is in Ashland and they maintain a government relations office in Frankfort, Kentucky.

On October 26, 2021 the Liberty Utilities subsidiary of Algonquin Power & Utilities agreed to acquire AEP's Kentucky operations in a transaction valued at $2.8 billion (US). The purchase is expected to close in the second quarter of 2022, pending regulatory approval.

PSO was one of the four CSW operating companies when CSW merged with AEP. Incorporated in 1913, PSO serves approximately 540,000 customers in eastern and southwestern Oklahoma. Its headquarters are in Tulsa. PSO has 4,269 megawatts of generating capacity and provides electricity to 232 cities and towns across a service area encompassing 30,000 square miles.

In April 2014, Oklahoma Governor Mary Fallin signed into law an AEP-backed bill that would add a tax onto anyone in the state who adopted rooftop solar. This anti-solar legislation was headed by Rep. Mike Turner (Oklahoma politician) (R. Edmond), known for both his support of ending rooftop solar and legislation he introduced to end all marriage in the state. After partnering with AEP to pass the legislation, Rep. Turner suffered a failed federal congressional race.

Often called SWEPCO, the Southwestern Electric Power Company serves most of western Arkansas, northwestern Louisiana, and northeastern Texas. Like PSO, it was one of the four CSW Operating Companies.

Between 2013 and 2014, AEP, under subsidiary SWEPCO, tried to eliminate a fundamental solar policy, net metering, at the LPSC several times, and failed each time. SWEPCO also backed openly anti-solar candidate Eric Skrmetta, who has been widely criticized for receiving 2/3 of his campaign contributions from entities he regulates.

In Arkansas, SWEPCO is expected in 2015 to ask regulators to allow them to pass along the costs of building and running the John W. Turk Jr. Coal Plant, the most expensive project in state history, to Arkansas ratepayers. This process is expected to elicit similar controversy to what has plagued the plant since construction.

SWEPCO operated Dolet Hills Power Station was scheduled for closure in Louisiana in 2021, due to pressure by Beyond Coal.

AEP also bought much of the town of Cheshire, Ohio, where the Gavin Power Plant is located, due to pollution issues. In 2004, AEP announced their plans to build one, or more, integrated gasification combined cycle (IGCC) coal-fired power plant which is expected to reduce emissions while providing additional electricity capacity to the customers served by AEP.

The company also operates its own inland barge line, AEP River Operations (formerly MEMCO Barge Line), and owns major tracts of land throughout its service areas.

In August 2008, AEP has formed a joint venture company with Duke Energy to build and own new electric transmission assets.

It is the largest shareholder in the Ohio Valley Electric Corporation (OVEC). OVEC is an associate company of AEP, not a subsidiary, because AEP owns less than half of it.

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Condition: Excellent

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