(Source: Tulsa World)
Utility giant American Electric Power reports that its third-
quarter profit rose 18 percent.
Net income increased to $443 million, or 93 cents per share, from
$374 million, or 93 cents, a year earlier, said Columbus, Ohio-
based AEP, which owns Public Service Company of Oklahoma.
Industrial retail electricity delivery fell 17 percent and
wholesale delivery dropped 37 percent. CEO Mike Morris said on a
conference call with analysts and media that he expects 2010
industrial demand to be better than 2009.
AEP supplies power to more than 5 million homes and businesses in
11 states. Its plants can produce about 38,000 megawatts, enough to
power about 30 million average homes, based on a U.S. Energy
Department estimate.
AEP's 39,000-mile network of high-voltage lines is the nation's
largest.
Originally published by Bloomberg News.
(c) 2009 Tulsa World. Provided by ProQuest LLC. All rights Reserved.
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