During the quarter ended on 31 December 2012, the operating earnings from Utility Operations has increased by $108m.
Operating earnings from AEP River Operations for the reporting dropped to $18m from a year earlier comparable quarter.
In the year to 31 December 2012, the company’s revenue totaled $14.9bn, down from $15.1bn in the previous year.
Commenting on the results, American Electric Power president and CEO Nicholas K Akins said despite challenges in 2012, the utility provided ‘solid’ financial results and affordable electricity to its customers.
"I’m particularly proud that our employees remained focused throughout the year and completed 2012 with no fatalities and record-low injury rates, while maintaining effective cost controls," Akins added.
"We delivered earnings improvement each quarter in 2012 from our transmission business, and we benefitted from successful rate proceedings in several jurisdictions.
"We also continued our legacy of generation leadership by bringing on line two new power plants in 2012, the 580-megawatt combined-cycle natural gas Dresden Plant and the 600-megawatt Turk Plant, the first ultra-supercritical coal plant in the United States."
