[Federal Register Volume 61, Number 57 (Friday, March 22, 1996)]
[Notices]
[Pages 11910-11911]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 96-6900]



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SECURITIES AND EXCHANGE COMMISSION
[Release No. 35-26495]


Filings Under the Public Utility Holding Company Act of 1935, as 
Amended (``Act'')

March 15, 1996.
    Notice is hereby given that the following filing(s) has/have been 
made with the Commission pursuant to provisions of the Act and rules 
promulgated thereunder. All interested persons are referred to the 
application(s) and/or declaration(s) for complete statements of the 
proposed transaction(s) summarized below. The application(s) and/or 
declaration(s) and any amendments thereto is/are available for public 
inspection through the Commission's Office of Public Reference.
    Interested persons wishing to comment or request a hearing on the 
application(s) and/or declaration(s) should submit their views in 
writing by April 8, 1996, to the Secretary, Securities and Exchange 
Commission, Washington, DC 20549, and serve a copy on the relevant 
applicant(s) and/or declarant(s) at the address(es) specified below. 
Proof of service (by affidavit or, in case of an attorney at law, by 
certificate) should be filed with the request. Any request for hearing 
shall identify specifically the issues of fact or law that are 
disputed. A person who so requests will be notified of any hearing, if 
ordered, and will receive a copy of any notice or order issued in the 
matter. After said date, the application(s) and/or declaration(s), as 
filed or as amended, may be granted and/or permitted to become 
effective.

American Electric Power Co., (70-5943, 70-6126, 70-8429) AEP Resources, 
Inc.

    American Electric Power Company, Inc. (``AEP''), a registered 
holding company, and AEP Resources, Inc. (``Resources''), a non-utility 
subsidiary company of AEP, both of 1 Riverside Plaza, Columbus, Ohio 
43215, have filed a post-effective amendment to three application-
declarations previously filed under sections 6(a), 7, 9(a), 10, 12(b), 
32 and 33 of the Act and rules 45 and 53 thereunder.
    By order dated December 22, 1994 (HCAR No. 26200) (``Order''), the 
Commission authorized AEP and Resources to issue and sell up to $300 
million (``Investment Limit'') in debt and/or equity securities through 
June 30, 1997 and to invest the proceeds in ``exempt wholesale 
generators'' (``EWGs''), as defined in section 32 of the Act, and in 
``foreign utility companies'' (``FUCOs''), as defined in section 33 of 
the Act. The Order also authorized AEP and Resources to acquire the 
securities of one or more companies (``Project Parents'') that directly 
or indirectly, but exclusively, hold the securities of one or more 
FUCOs or EWGs (``Power Projects'').
    The Order also authorized AEP to guarantee the debt securities and 
other commitments of Resources, AEP and Resources to guarantee the 
securities of one or more Project Parents or Power Projects, and 
Project Parents to guarantee the securities of their Power Projects, 
through June 30, 1997, in an aggregate amount which, with the 
securities issued, will never exceed the Investment Limit. Finally, the 
Order reserved jurisdiction over the terms of the issuance and sale by 
AEP of up to 10 million additional shares of its common stock 
(``Stock''), par value $6.50 per share, which are authorized but are 
unissued or are treasury shares. The gross proceeds from the sale of 
the Stock would not exceed the Investment Limit.
    AEP proposes to increase the Investment Limit to an amount that, 
when added to its other direct or indirect investments in EWGs or

[[Page 11911]]
FUCOs, is equal to 50% of the consolidated retained earnings of AEP 
determined in accordance with rule 53 (``New Investment Limit''). AEP 
also proposes to extend its authority to issue and sell debt and equity 
securities, to extend the authority of Resources and the Project 
Parents to acquire the securities of new Project Parents, and to extend 
the authority of AEP, Resources and the Project Parents to guarantee 
securities, to December 31, 2000. Finally, AEP proposes that the 
Commission release its reservation of jurisdiction over the issuance 
and sale by AEP of the Stock.
    By orders dated December 1, 1993 and December 6, 1993 (HCAR No. 
25936 and HCAR No. 25939) (``1993 Orders''), the Commission authorized 
AEP to issue and sell authorized but unissued common stock under its 
Dividend Reinvestment and Stock Purchase Plan or the American Electric 
Power Employees Savings Plan (``Plans''). The Orders stated that AEP 
would not use the proceeds of sales of its common stock under the Plans 
to acquire interests in EWGs or FUCOs.
    AEP now proposes that it be authorized, subject to the New 
Investment Limit, to issue and sell common stock under the Plans 
through December 31, 2000 and to use the proceeds thereof to invest in 
EWGs and FUCOs.

    For the Commission, by the Division of Investment Management, 
pursuant to delegated authority.
Margaret H. McFarland,
Deputy Secretary.
[FR Doc. 96-6900 Filed 3-21-96; 8:45 am]
BILLING CODE 8010-01-M