American Electric Power : 2025 Coal Generation Rate Base (2025 Coal Generation Rate Base)

Note: Rate base is a driver for earnings and accurately aligns with what bonds are funding. The data below therefore calculates AEP's percentage of owned coal generation rate base.

Appalachian Power Company

12/31/25 Balances

FERC Form 1 Account T D G Securitization Total

Net Utility Plant	P110, Line 14,15	multiple	4,657,956,143	4,826,740,218	4,428,702,871			13,913,399,232
Regulatory Assets	P111, Line 72	182.3	241,183,213	621,103,769	1,009,241,012	-		1,871,527,994
ADIT Assets	P111, Line 82	190	77,170,702	73,652,853	257,093,295			407,916,851		Owned	Calculated	Calculated
Regulatory Liabilities	P113, Line 60	254	(220,514,965)	(199,008,658)	(302,250,531)	(2,084,849)		(723,859,003)		Generation	Coal Rate Base	Coal Rate Base
ADIT Liabilities	P113, Lines 62,63,64	281,2,3	(727,336,791)	(818,776,192)	(994,831,577)			(2,540,944,560)		Capacity %	($)	(%)
Net			4,028,458,302	4,503,711,990	4,397,955,071	(2,084,849)	-	12,928,040,515	Coal	61.7%	2,713,374,968	21.0%
									Other Fuel	38.3%
										100.0%

Indiana Michigan Power Company

12/31/25 Balances

	FERC Form 1	Account	T	D	G Nuclear/RTD		Total
Net Utility Plant	P110, Line 14,15	multiple	1,673,652,807	3,460,365,001	410,380,008 2,285,964,765		7,830,362,581
Regulatory Assets	P111, Line 72	182.3	145,206,437	263,182,094	135,309,611 297,219,601		840,917,743
ADIT Assets	P111, Line 82	190	35,285,821	67,875,833	22,455,499 1,034,326,530		1,159,943,682		Owned	Calculated	Calculated
Regulatory Liabilities	P113, Line 60	254	(85,025,536)	(124,513,027)	(99,138,879) (2,819,284,109)		(3,127,961,552)		Generation	Coal Rate Base	Coal Rate Base
ADIT Liabilities	P113, Lines 62,63,64	281,2,3	(329,952,087)	(560,258,437)	(71,359,677) (1,417,626,864)		(2,379,197,065)		Capacity %	($)	(%)
Net			1,439,167,442	3,106,651,463	397,646,562 (619,400,078)	-	4,324,065,389	Coal	35.8%	381,344,799.77	8.8%
								Nuclear	62.7%
								Solar/Hydro	1.5%
									100.0%
					Kentucky Power Company
					12/31/25 Balances
	FERC Form 1	Account	T	D	G		Total
Net Utility Plant	P110, Line 14,15	multiple	855,481,109	1,014,583,279	666,605,259		2,536,669,647
Regulatory Assets	P111, Line 72	182.3	46,405,540	128,516,377	115,342,154		290,264,071
ADIT Assets	P111, Line 82	190	13,942,087	14,163,798	53,987,561		82,093,446		Owned	Calculated	Calculated
Regulatory Liabilities	P113, Line 60	254	(33,491,807)	(34,507,510)	(56,100,747)		(124,100,064)		Generation	Coal Rate Base	Coal Rate Base
ADIT Liabilities	P113, Lines 62,63,64	281,2,3	(115,385,899)	(178,435,322)	(282,951,090)		(576,772,311)		Capacity %	($)	(%)
Net			766,951,030	944,320,621	496,883,138	-	2,208,154,789	Coal	72.6%	360,529,160	16.3%
								Other Fuel	27.4%
									100.0%
					Kingsport Power Company
					12/31/25 Balances
	FERC Form 1	Account	T	D			Total
Net Utility Plant	P110, Line 14,15	multiple	57,965,429	213,788,567			271,753,996
Regulatory Assets	P111, Line 72	182.3	5,893,690	36,728,004			42,621,694
ADIT Assets	P111, Line 82	190	5,464,696	5,106,970			10,571,666		Owned	Calculated	Calculated
Regulatory Liabilities	P113, Line 60	254	(2,851,247)	(7,087,804)			(9,939,051)		Generation	Coal Rate Base	Coal Rate Base
ADIT Liabilities	P113, Lines 62,63,64	281,2,3	(10,986,095)	(36,944,879)			(47,930,974)		Capacity %	($)	(%)
Net			55,486,473	211,590,857	-	-	267,077,330	Coal	0.0%	-	0.0%
								Other Fuel	0.0%
									0.0%

					AEP Ohio
	FERC Form 1	Account	T	D	12/31/25 Balances		Total
Net Utility Plant	P110, Line 14,15	multiple	3,488,626,190	6,771,485,502			10,260,111,693
Regulatory Assets	P111, Line 72	182.3	82,870,288	328,300,454			411,170,742
ADIT Assets	P111, Line 82	190	50,495,979	120,207,081			170,703,060		Owned	Calculated	Calculated
Regulatory Liabilities	P113, Line 60	254	(131,223,509)	(378,551,616)			(509,775,125)		Generation	Coal Rate Base	Coal Rate Base
ADIT Liabilities	P113, Lines 62,63,64	281,2,3	(465,497,230)	(972,725,324)			(1,438,222,555)		Capacity %	($)	(%)
Net			3,025,271,717	5,868,716,097	-	-	8,893,987,815	Coal	0.0%	-	0.0%
								Other Fuel	0.0%
									0.0%

Public Service Company of Oklahoma

12/31/25 Balances

	FERC Form 1	Account	T	D	G	Wind	Total
Net Utility Plant	P110, Line 14,15	multiple	1,357,671,844	3,639,947,640	3,108,397,060	886,504,402	8,992,520,946
Regulatory Assets	P111, Line 72	182.3	35,174,485	267,112,286	243,896,428	286,741	546,469,940
ADIT Assets	P111, Line 82	190	35,273,447	80,557,069	158,704,844	12,116,832	286,652,193		Owned	Calculated	Calculated
Regulatory Liabilities	P113, Line 60	254	(82,112,067)	(225,802,716)	(136,415,335)	(965,409)	(445,295,526)		Generation	Coal Rate Base	Coal Rate Base
ADIT Liabilities	P113, Lines 62,63,64	281,2,3	(194,249,698)	(667,214,522)	(355,630,957)	(182,726,942)	(1,399,822,118)		Capacity %	($)	(%)
Net			1,151,758,011	3,094,599,758	3,018,952,041	715,215,624	7,980,525,434	Coal	8.0%	299,484,103	3.8%
								Wind	19.0%
								Other Fuel	72.9%
									100.0%

Southwestern Electric Power Company

12/31/25 Balances

	FERC Form 1	Account	T	D	G Wind	Total
Net Utility Plant	P110, Line 14,15	multiple	3,026,930,681	2,834,084,761	4,497,151,994 1,056,424,011	11,414,591,447
Regulatory Assets	P111, Line 72	182.3	132,572,805	344,148,054	668,682,353 29,545,133	1,174,948,344
ADIT Assets	P111, Line 82	190	54,754,981	36,369,049	190,350,744 12,865,738	294,340,512		Owned	Calculated	Calculated
Regulatory Liabilities	P113, Line 60	254	(119,502,516)	(192,732,601)	(310,416,759) (8,945,588)	(631,597,464)		Generation	Coal Rate Base	Coal Rate Base
ADIT Liabilities	P113, Lines 62,63,64	281,2,3	(348,565,367)	(468,613,194)	(712,424,253) (223,180,254)	(1,752,783,066)		Capacity %	($)	(%)
Net			2,746,190,584	2,553,256,069	4,333,344,079 866,709,041	10,499,499,773	Coal	30.8%	1,847,134,298	17.6%
							Wind	27.7%
							Other Fuel	41.5%
								100.0%
					AEP Texas
					12/31/25 Balances
	FERC Form 1	Account	T	D	G	Total
Net Utility Plant	P110, Line 14,15	multiple	8,695,403,551	6,350,293,938	15,239	15,045,712,728
Regulatory Assets	P111, Line 72	182.3	140,123,916	392,765,877	947	532,890,739
ADIT Assets	P111, Line 82	190	70,882,616	58,465,658	1,974,709	131,322,983		Owned	Calculated	Calculated
Regulatory Liabilities	P113, Line 60	254	(274,788,138)	(245,301,792)	-	(520,089,929)		Generation	Coal Rate Base	Coal Rate Base
ADIT Liabilities	P113, Lines 62,63,64	281,2,3	(761,344,416)	(794,645,268)	(5,060,506)	(1,561,050,190)		Capacity %	($)	(%)
Net			7,870,277,530	5,761,578,413	(3,069,612)	13,628,786,331	Coal	0.0%	-	0.0%
							Other Fuel	0.0%
								0.0%

Wheeling Power Company

12/31/25 Balances

FERC Form 1 Account T D G Total

Net Utility Plant	P110, Line 14,15	multiple	156,287,950	265,743,829	786,461,805	1,208,493,585
Regulatory Assets	P111, Line 72	182.3	10,643,592	21,704,056	428,597,520	460,945,168
ADIT Assets	P111, Line 82	190	6,051,901	8,825,338	47,551,328	62,428,567	Owned	Calculated	Calculated
Regulatory Liabilities	P113, Line 60	254	(13,688,690)	(39,141,822)	(52,006,367)	(104,836,880)	Generation	Coal Rate Base	Coal Rate Base
ADIT Liabilities	P113, Lines 62,63,64	281,2,3	(30,091,533) (46,723,498) (263,644,791) (340,459,822)					Capacity %	($)	(%)
Net			129,203,220 210,407,903 946,959,495 1,286,570,618				Coal	100.0%	946,959,495		73.6%
							Other Fuel	0.0%
								100.0%

Total of All Regulated Companies Listed Total Rate Base	Total Calculated Total Calculated Coal Rate Base Coal Rate Base ($) (%)
62,016,707,994	6,548,826,825	10.6%