Bank of America Says American Electric Is Getting The CenterPoint Treatment

According to Bank of America, American Electric Power AEP has a significant capital spending requirement on its coal fleet to meet upcoming EPA emissions restrictions. Bank of America said that on Friday afternoon the Texas Supreme Court awarded AEP's Texas Central utility $420M in previously denied stranded cost true-ups. “This order follows the similar Supreme Court ruling for CenterPoint earlier in the year. In addition to the $420M, AEP would also be entitled to interest on the amount dating back to 2002.” American Electric Power closed yesterday at $38.51.