Utilities Sector Review: AEP Separating Ohio Business, Solar Wafers on the Rise

American Electric Power (NYSE:AEP) plans to file today at the Federal Energy Regulatory Commission, or FERC, to separate its Ohio businesses and to terminate and replace the Interconnection Agreement for its eastern generating assets with a new power cost sharing arrangement. The company received approval Jan. 23 from the Public Utilities Commission of Ohio to move forward with corporate separation of its Ohio generation assets. AEP expects to receive decisions from the FERC enabling implementation of corporate separation and the termination and replacement of the Interconnection Agreement in Q1 of 2013.

The shares closed at $39.30, down $0.07, or 0.18%, on the day. Its market capitalization is $18.98 billion.

PPL Corporation (NYSE:PPL): Reports Q4 revenue $4.22B vs. consensus $3.04B

The shares closed at $28.45, up $0.74, or 2.67%, on the day. Its market capitalization is $16.45 billion.

Suntech Power Hldgs. Co (NYSE:STP): Solar wafer makers have been increasing quotes in both Taiwan and China, to between $1.15 and $1.25 per unit, according to Digitimes.

The shares closed at $4.03, down $0.15, or 3.59%, on the day. Its market capitalization is $725.69 million.

Want news like this in real-time so you can get an edge? Click here for Wall St. Cheat Sheet Pro.

To contact the reporter on this story: Stella Mariz at staff.writers@wallstcheatsheet.com

To contact the editor responsible for this story: Damien Hoffman at editors@wallstcheatsheet.com