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[Seminole Red]

AEP Earnings Increase for Fourth Quarter, Year; Company Hikes 2008 Ongoing Earnings Guidance Range
01/29 6:55 am (PR)
Story 0281 (AEP)
- 2007 fourth-quarter earnings: $0.58 per share GAAP, $0.52 per share ongoing - 2007 full-year earnings: $2.73 per share GAAP, $3.00 per share ongoing - New rates for utilities in five states, favorable weather, marketing successes increase ongoing earnings for the quarter and year - Company increases ongoing earnings guidance for 2008 to between $3.10 and $3.30 per share



COLUMBUS, Ohio, Jan. 29 /PRNewswire-FirstCall/ --




AMERICAN ELECTRIC POWER
Preliminary, unaudited results

4th quarter ended Dec. 31 12 months ended Dec. 31
2006 2007 Variance 2006 2007 Variance

Revenue ($ in billions) 3.0 3.3 0.3 12.6 13.4 0.8
Earnings ($ in millions):
GAAP 181 231 50 1,002 1,089 87



Ongoing 151 209 58 1,093 1,199 106
EPS ($):
GAAP 0.46 0.58 0.12 2.54 2.73 0.19
Ongoing 0.38 0.52 0.14 2.77 3.00 0.23

EPS based on 396mm shares in Q 4 2006, 400mm in Q 4 2007, 394mm in 12 mo. 2006 and 399mm in 12 mo. 2007



American Electric Power (NYSE: AEP) today reported 2007 year-end earnings, prepared in accordance with Generally Accepted Accounting Principles (GAAP), of $1.089 billion, or $2.73 per share, compared with $1.002 billion, or $2.54 per share, for 2006. Ongoing earnings (earnings excluding special items) for 2007 were $1.199 billion, or $3.00 per share, compared with $1.093 billion, or $2.77 per share, for 2006.

GAAP earnings for fourth-quarter 2007 were $231 million, or $0.58 per share, compared with $181 million, or $0.46 per share, for fourth-quarter 2006. Ongoing earnings for fourth-quarter 2007 were $209 million, or $0.52 per share, compared with $151 million, or $0.38 per share, for fourth-quarter 2006.



GAAP earnings for fourth-quarter 2007 were $22 million higher than ongoing earnings primarily because of the gain on the October 2007 sale of AEP's 50 - percent equity interest in the Sweeny Cogeneration plant in Texas to ConocoPhilips and favorable tax adjustments related to assets disposed of in prior years, which were somewhat offset by interest expense related to an adverse U.S. District Court decision in the Bank of America proceeding related to the Bammel natural gas storage facility.

For the year, GAAP earnings were $110 million less than ongoing earnings primarily because of the effect of Virginia re-regulation, enacted in April 2007, which resulted in a return to a form of cost-based regulation for the generation portion of electric utility service in Virginia, and the effect of a settlement agreement reached with the U.S. Environmental Protection Agency, the U.S. Department of Justice, eight states and 14 environmental organizations resolving all issues related to claims against AEP regarding New Source Review requirements of the Clean Air Act.

A full reconciliation of GAAP earnings to ongoing earnings for the quarter and year is included in tables at the end of this news release.

"Our ongoing earnings for the fourth quarter increased by almost 40 percent from the same period last year, which pushed our ongoing earnings for 2007 to the top of our earnings guidance range for the year," said Michael G. Morris, AEP's chairman, president and chief executive officer. "We had a very good quarter and year, with a number of factors contributing to the excellent earnings results.

"Our utilities benefited from continued efficient operation, implementation of new rates in five of our 11 states and more favorable weather than we had in 2006," Morris said. "We've seen continued success in our power marketing efforts, reaching new long-term power-supply agreements with municipal electric systems and rural electric cooperatives. This provides an important revenue stream and enables us to make the best use of our generation fleet. And our sale of a Louisiana power plant in late 2006 eliminated an asset that had operated at a loss, which helped to improve the year-to-year earnings comparison."

EARNINGS GUIDANCE

AEP increased its 2008 ongoing earnings guidance range to between $3.10 and $3.30 per share from the previous range of between $3.05 and $3.25 per share.

"The decision to increase our guidance is driven by our forecast for continued strong results from our wholesale marketing activities as well as the earnings potential related to the implementation of our regulatory plan," Morris said.

In providing ongoing earnings guidance, there could be differences between ongoing earnings and GAAP earnings for matters such as, but not limited to, divestitures or changes in accounting principles. AEP management is not able to estimate the impact, if any, on GAAP earnings of these items. Therefore, AEP is not able to provide a corresponding GAAP equivalent for earnings guidance.




SUMMARY ONGOING RESULTS BY SEGMENT
$ in millions except EPS

Vari- 12 mo. 12 mo. Vari-
Q 4 06 Q 4 07 ance 06 07 ance

Utility Operations 126 152 26 1,028 1,086 58
Ongoing EPS 0.31 0.38 0.07 2.61 2.72 0.11
MEMCO 26 21 (5) 80 61 (19)
Ongoing EPS 0.07 0.05 (0.02) 0.20 0.15 (0.05)
Generation and Marketing 2 20 18 12 37 25
Ongoing EPS 0.01 0.05 0.04 0.03 0.09 0.06



All Other (3) 16 19 (27) 15 42
Ongoing EPS (0.01) 0.04 0.05 (0.07) 0.04 0.11
Ongoing Earnings 151 209 58 1,093 1,199 106
Ongoing EPS 0.38 0.52 0.14 2.77 3.00 0.23

EPS based on 396mm shares in Q 4 2006, 400mm in Q 4 2007, 394mm
in 12 mo. 2006 and 399mm in 12 mo. 2007



Ongoing earnings from Utility Operations increased $26 million during fourth-quarter 2007 compared with fourth-quarter 2006. Higher gross margins from retail sales and off-system sales were somewhat offset by higher expenses than recorded in the prior period. A severe December ice storm in AEP's Oklahoma service territory increased operations and maintenance expenses by approximately $70 million; the total cost of the storm, including capital, was approximately $90 million.

For the 12 -month period, ongoing earnings from Utility Operations increased by $58 million from 2006 because of higher retail sales, reflecting higher usage, favorable rate changes and an increase in off-system sales. The improved margins were partially offset by increased expenses, primarily related to Oklahoma ice storms in January and December and higher interest expense. The year-to-year comparison also reflects the reduction in 2007 of the earnings-sharing payment from Centrica, the final payment from a multi- year earnings-sharing agreement established in 2002 when AEP sold its Texas retail electricity providers to Centrica.

Ongoing earnings from MEMCO barge operations were lower for the quarter and year than in prior periods because of a decrease in northbound freight demand, primarily related to steel and cement imports, and higher operating costs brought by increased fleet size, higher labor costs and increased fuel prices.

The increase in ongoing earnings from Generation and Marketing is primarily attributed to new contracts with municipalities and cooperatives. Generation and Marketing includes AEP's non-regulated generating, marketing and risk management activities, primarily in the Electric Reliability Council of Texas.

All Other, which includes the Parent Company and other investments, improved in both the quarter and year when compared to the prior periods. The 2006 results included the losses from operations at the Plaquemine Cogeneration Facility in Louisiana that was sold to The Dow Chemical Company during fourth-quarter 2006. The favorable year-over-year results were somewhat offset by lower interest income and tax adjustments at the Parent.







ONGOING RESULTS FROM UTILITY OPERATIONS
$ in millions except EPS

Vari- 12 mo. 12 mo. Vari-
Q 4 06 Q 4 07 ance 06 07 ance
East Regulated Integrated
Utilities 565 582 17 2,111 2,215 104
Ohio Companies 525 582 57 2,110 2,452 342
West Regulated Integrated
Utilities 230 230 0 1,018 994 (24)
Texas Wires 114 133 19 476 529 53
Off-System Sales 144 204 60 829 939 110
Net Transmission Revenue 52 19 (33) 271 152 (119)
Other Operating Revenue 146 121 (25) 527 536 9
Utility Gross Margin 1,776 1,871 95 7,342 7,817 475
Operations & Maintenance (885) (957) (72) (3,177) (3,326) (149)
Depreciation & Amortization (375) (361) 14 (1,435) (1,483) (48)
Taxes Other Than Income Taxes (178) (188) (10) (735) (748) (13)
Interest Expense & Preferred
Dividend (195) (191) 4 (670) (790) (120)
Other Income & Deductions 75 31 (44) 246 124 (122)


Income Taxes (92) (53) 39 (543) (508) 35
Utility Operations Ongoing
Earnings 126 152 26 1,028 1,086 58
Ongoing EPS 0.31 0.38 0.07 2.61 2.72 0.11

(MORE TO FOLLOW) Story 0282 AEP Earnings Increase for Fourth Quarter, Year; -2 -

EPS based on 396mm shares in Q 4 2006, 400mm in Q 4 2007, 394mm
in 12 mo. 2006 and 399mm in 12 mo. 2007



Retail Sales - Results for the fourth quarter and year were higher than results in the same periods in 2006, primarily because of increased usage attributed in part to favorable weather, and the implementation of new rates in the Ohio Companies and in AEP's utilities in Virginia, Texas, Oklahoma and Kentucky. Sales to municipal and cooperative customers continue to add to the positive results in the East. Fourth-quarter heating degree-days were 9 percent lower than normal but 8 percent higher than in the same period last year in AEP's East service territories and 5 percent lower than normal but 11 percent higher than in last year's fourth quarter in AEP's western service territory. Usage increases attributable to weather in 2007, when compared to the same periods in 2006 when weather was milder, increased 2007 gross margins by $22 million for the fourth quarter and $105 million for the year.

Off-System Sales - Gross margins from Off-System Sales for the fourth quarter were higher than in the prior period primarily because of higher volumes and prices. Stronger realized prices led to the improvement in gross margins for the year when compared to results for 2006.

Net Transmission Revenues - Transmission Revenues decreased $33 million for the fourth quarter and $119 million for the year when compared to the same periods in 2006 primarily because of PJM Interconnection's implementation of marginal-loss dispatch and settlement implemented in June 2007.

Other Operating Revenue - Other Operating Revenues were lower in fourth- quarter 2007 than in the prior period because of lower third-party and miscellaneous revenues. For the year, Other Operating Revenues were higher than in 2006 because of increased securitization revenue at AEP Texas Central, partially offset by fewer sales of emissions allowances.

Operations & Maintenance Expense - Operations & Maintenance Expenses were higher during the fourth quarter and year as compared with the same periods in 2006 primarily because of higher steam production expenses and costs for storm damage repair in Oklahoma. The full-year comparison includes storm damage repair for ice storms in Oklahoma in January 2007 as well as the large storm in December 2007.

Depreciation & Amortization - Depreciation & Amortization expenses were lower for fourth-quarter 2007 when compared to the same period in 2006 primarily because of lower depreciation expense in Indiana and Michigan brought by the change in depreciation rates approved in June 2007 by the Indiana Utility Regulatory Commission and in September 2007 by the Michigan Public Service Commission, lower depreciation expense in Virginia as a result of the base rate case final order in May 2007, and lower depreciation in Oklahoma because of a base rate case final order received in October 2007. For the 12 -month period, Depreciation & Amortization expenses were higher in 2007 than in 2006 primarily because of increases in regulatory amortizations, primarily related to securitization at AEP Texas Central, and higher depreciable property balances, somewhat offset by the lower depreciation rates mentioned above.

Interest Expense & Preferred Dividends - The increase in Interest Expense for the 12 -month period is primarily because of increased long-term debt, higher interest rates on variable-rate debt and the issuance of securitization bonds at AEP Texas Central.

Other Income & Deductions - The decrease in Other Income & Deductions in fourth-quarter 2007 from the same period in 2006 is primarily attributed to the reinstatement in fourth-quarter 2006 of environmental and reliability deferred carrying costs for Appalachian Power in Virginia. These costs had previously been written off. The decrease for the year from the same period of 2006 is because of the lower earnings-sharing payment received from Centrica and lower carrying-cost income being recorded after AEP Texas Central began recovering stranded costs during fourth-quarter 2006.

Income Taxes - Income taxes for 2007's fourth quarter and 12 -month period were lower than those in the same periods of 2006 primarily because of unfavorable federal income tax adjustments in 2006 and favorable amended state tax return adjustments in 2007.

WEBCAST

American Electric Power's quarterly conference call with financial analysts will be broadcast live over the Internet at 9 a.m. EST today at http://www.aep.com/go/webcasts. The webcast will include audio of the conference call and visuals of charts and graphics referred to by AEP management during the call. The charts and graphics will be available for download at http://www.aep.com/go/webcasts .

The call will be archived on http://www.aep.com/go/webcasts for use by those unable to listen during the live webcast. Archived calls also are available as podcasts.

Minimum requirements to listen to broadcast: The Windows Media Player software, free from http://windowsmedia.com/download, and at least a 56Kbps connection to the Internet.



American Electric Power is one of the largest electric utilities in the United States, delivering electricity to more than 5 million customers in 11 states. AEP ranks among the nation's largest generators of electricity, owning more than 38,000 megawatts of generating capacity in the U.S. AEP also owns the nation's largest electricity transmission system, a nearly 39,000 -mile network that includes more 765 kilovolt extra-high voltage transmission lines than all other U.S. transmission systems combined. AEP's transmission system directly or indirectly serves about 10 percent of the electricity demand in the Eastern Interconnection, the interconnected transmission system that covers 38 eastern and central U.S. states and eastern Canada, and approximately 11 percent of the electricity demand in ERCOT, the transmission system that covers much of Texas. AEP's utility units operate as AEP Ohio, AEP Texas, Appalachian Power (in Virginia and West Virginia), AEP Appalachian Power (in Tennessee), Indiana Michigan Power, Kentucky Power, Public Service Company of Oklahoma, and Southwestern Electric Power Company (in Arkansas, Louisiana and east Texas). AEP's headquarters are in Columbus, Ohio.



AEP's earnings are prepared in accordance with accounting principles generally accepted in the United States and represent the company's earnings as reported to the Securities and Exchange Commission. AEP's management believes that the company's ongoing earnings, or GAAP earnings adjusted for certain items as described in the news release and charts, provide a more meaningful representation of the company's performance. AEP uses ongoing earnings as the primary performance measurement when communicating with analysts and investors regarding its earnings outlook and results. The company also uses ongoing earnings data internally to measure performance against budget and to report to AEP's board of directors.



This report made by AEP and its Registrant Subsidiaries contains forward- looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934. Although AEP and each of its Registrant Subsidiaries believe that their expectations are based on reasonable assumptions, any such statements may be influenced by factors that could cause actual outcomes and results to be materially different from those projected. Among the factors that could cause actual results to differ materially from those in the forward-looking statements are: electric load and customer growth; weather conditions, including storms; available sources and costs of, and transportation for, fuels and the creditworthiness and performance of fuel suppliers and transporters; availability of generating capacity and the performance of AEP's generating plants; AEP's ability to recover regulatory assets and stranded costs in connection with deregulation; AEP's ability to recover increases in fuel and other energy costs through regulated or competitive electric rates; AEP's ability to build or acquire generating capacity (including AEP's ability to obtain any necessary regulatory approvals and permits) when needed at acceptable prices and terms and to recover those costs through applicable rate cases or competitive rates; new legislation, litigation and government regulation including requirements for reduced emissions of sulfur, nitrogen, mercury, carbon, soot or particulate matter and other substances; timing and resolution of pending and future rate cases, negotiations and other regulatory decisions (including rate or other recovery for new investments, transmission service and environmental compliance); resolution of litigation (including pending Clean Air Act enforcement actions and disputes arising from the bankruptcy of Enron Corp. and related matters); AEP's ability to constrain operation and maintenance costs; the economic climate and growth in AEP's service territory and changes in market demand and demographic patterns; inflationary and interest rate trends; AEP's ability to develop and execute a strategy based on a view regarding prices of electricity, natural gas and other energy-related commodities; changes in the creditworthiness of the counterparties with whom AEP has contractual arrangements, including participants in the energy trading market; actions of rating agencies, including changes in the ratings of debt; volatility and changes in markets for electricity, natural gas and other energy-related commodities; changes in utility regulation, including the potential for new legislation in Ohio and membership in and integration into regional transmission organizations; accounting pronouncements periodically issued by accounting standard-setting bodies; the performance of AEP's pension and other postretirement benefit plans; prices for power that AEP generates and sells at wholesale; changes

(MORE TO FOLLOW) Story 0283 AEP Earnings Increase for Fourth Quarter, Year; -3 - in technology, particularly with respect to new, developing or alternative sources of generation; other risks and unforeseen events, including wars, the effects of terrorism (including increased security costs), embargoes and other catastrophic events.




American Electric Power
Financial Results for 4th Quarter 2007 Actual vs 4th Quarter 2006 Actual




2006 Actual 2007 Actual
($ millions) EPS ($ millions) EPS


UTILITY OPERATIONS:
Gross Margin:
1 East Regulated Integrated
Utilities 565 582
2 Ohio Companies 525 582
3 West Regulated Integrated
Utilities 230 230
4 Texas Wires 114 133
5 Off-System Sales 144 204
6 Net Transmission Revenue 52 19
7 Other Operating Revenue 146 121
8 Utility Gross Margin 1,776 1,871

9 Operations & Maintenance (885) (957)
10 Depreciation & Amortization (375) (361)
11 Taxes Other than Income Taxes (178) (188)
12 Interest Exp & Preferred
Dividend (195) (191)

13 Other Income & Deductions 75 31
14 Income Taxes (92) (53)
15 Utility Operations On-Going
Earnings 126 0.31 152 0.38

NON-UTILITY OPERATIONS:
16 MEMCO 26 0.07 21 0.05
17 Generation & Marketing 2 0.01 20 0.05

18 Parent & Other On-Going
Earnings (3) (0.01) 16 0.04

19 ON-GOING EARNINGS 151 0.38 209 0.52

Note: For analysis purposes, certain financial statement amounts have been
reclassified for this effect on earnings presentation.



American Electric Power

Financial Results for the 4th Quarter 2007
Reconciliation of On-going to Reported Earnings




2007
Gener-
ation
and Parent
Marke- & All
Utility MEMCO ting Other Total EPS
($ millions)

On-going Earnings 152 21 20 16 209 $0.52
Dispositions:
Gain on Sale of UK
Operations - - - 18 18 $0.05
Gain on Sale of
Sweeny Plant - - 30 - 30 $0.08
Gain on Sale of
Seeboard - - - 4 4 $0.01
Bank of America /
HPL gas storage
reservoir - - - (30) (30) $(0.08)
- - - - - $-

Total Special Items - - 30 (8) 22 $0.06


Reported Earnings 152 21 50 8 231 $0.58



Financial Results for the 4th Quarter 2006
Reconciliation of On-going to Reported Earnings

2006
Gener-
ation
and Parent
Marke- & All
Utility MEMCO ting Other Total EPS
($ millions)

On-going Earnings 126 26 2 (3) 151 $0.38

Dispositions:
Gain on Sale of UK
Operations - - - (1) (1) $-
Gain on Sale of ICE
Shares - - - 15 15 $0.04



Gain on Sale of
Seeboard - - - 5 5 $0.01
Gain on Sale of
Pacific Hydro - - - 7 7 $0.02
Adjustments to Prior
Dispositions - - - 4 4 $0.01

Total Special Items - - - 30 30 $0.08

Reported Earnings 126 26 2 27 181 $0.46



American Electric Power
Summary of Selected Sales Data
For Domestic Operations
(Data based on preliminary, unaudited results)

3 Months Ended December 31,
2006 2007 Change

ENERGY & DELIVERY SUMMARY Retail - Domestic Electric (in
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[Seminole Red]

Entergy Reports Fourth Quarter Earnings
01/29 7:00 am (PR)
Story 0350 (ETR)

NEW ORLEANS, Jan. 29 /PRNewswire-FirstCall/ -- Entergy Corporation (NYSE: ETR) today reported fourth quarter 2007 as-reported earnings of $193.9 million, or 96 cents per share, compared with $268.3 million, or $1.27 per share, for fourth quarter 2006. On an operational basis, Entergy's fourth quarter 2007 earnings were $225.9 million, or $1.12 per share, compared with $166.9 million, or 79 cents per share, in fourth quarter 2006.

For the year, Entergy's as-reported earnings were $1.1 billion, or $5.60 per share, and operational earnings were $1.2 billion, or $5.76 per share. These results compare with 2006 as-reported earnings of $1.1 billion, or $5.36 per share, and operational earnings of $997.7 million, or $4.72 per share.



Consolidated Earnings - Reconciliation of GAAP to Non-GAAP Measures Fourth Quarter and Year-to-Date 2007 vs. 2006 (Per share in U.S. $)


Fourth Quarter Year-to-Date
2007 2006 Change 2007 2006 Change
As-Reported Earnings 0.96 1.27 (0.31) 5.60 5.36 0.24
Less Special Items (0.16) 0.48 (0.64) (0.16) 0.64 (0.80)



Operational Earnings 1.12 0.79 0.33 5.76 4.72 1.04
*GAAP refers to United States generally accepted accounting principles.


Operational Earnings Highlights for Fourth Quarter 2007
-- Utility, Parent & Other had lower earnings primarily due to higher
income tax expense.
-- Entergy Nuclear earnings increased as a result of higher revenue from
pricing, production from the Palisades plant acquired in second quarter
2007, and lower income tax expense.
-- Entergy's Non-Nuclear Wholesale Assets business reported higher results
due primarily to lower income tax expense.



"2007 closed with constructive resolution of numerous regulatory matters positioning our utility to advance its growth strategy," said J. Wayne Leonard, Entergy's chairman and chief executive officer. "In addition, the actions necessary to complete the planned non-utility nuclear spin-off remain on track for a third quarter 2008 close. Consistent with that, the Entergy Board of Directors has granted authority for $0.5 billion of the anticipated post-spin $2.5 billion share repurchase program."




Other Highlights
-- Entergy won three awards from Edison Electric Institute including an
Emergency Assistance Award for power restoration efforts following a
January 2007 ice storm in Oklahoma, as well as an Advocacy Excellence
Award for its low-income initiative and an Outstanding Achievement
Award for grassroots nuclear advocacy efforts in New York.
-- Final approvals were received and the separation was completed of
Entergy Gulf States into two distinct companies, Entergy Gulf States
Louisiana, L.L.C., and a Texas company, Entergy Texas, Inc.
-- Entergy Nuclear supplemented its filing with the Nuclear Regulatory
Commission for the spin-off transaction and made related regulatory
filings in New York and Vermont.



Entergy will host a teleconference to discuss this release at 10 a.m. CST on Tuesday, Jan. 29, 2008, with access by telephone, 719 -457 -2080, confirmation code 8984015. The call and presentation slides can also be accessed via Entergy's Web site at www.entergy.com. A replay of the teleconference will be available for seven days thereafter by dialing 719 -457 - 0820, confirmation code 8984015. The replay will also be available on Entergy's Web site at www.entergy.com.

Utility, Parent & Other

In fourth quarter 2007, Utility, Parent & Other had earnings of $25.1 million, or 12 cents per share, on an as-reported basis and $38.8 million, or 19 cents per share, on an operational basis, compared to as-reported earnings of $226.6 million, or $1.08 per share, and operational earnings of $97.5 million, or 47 cents per share, in fourth quarter 2006. Earnings for Utility, Parent & Other in fourth quarter 2007 reflect higher income tax expense and the absence of a regulatory settlement included in fourth quarter 2006 results. Partially offsetting these items were higher revenue due to warmer- than-normal weather, higher transmission revenue, and increased recovery of capacity costs. The higher income tax expense resulted primarily from the absence in the current period of a tax benefit realized in fourth quarter 2006, as well as the effect of annual income tax adjustments occurring in the fourth quarter each year across the Entergy companies.

Megawatt-hour sales in the residential sector in fourth quarter 2007, on a weather-adjusted basis, showed a modest increase compared to fourth quarter 2006. Commercial and governmental sales, after adjusting for weather, were up 1 percent. Industrial sales in the current quarter equaled sales for the same period one year ago.




The residential sales sector showed a modest increase quarter to quarter. While the number of customers increased with a corresponding rise in sales volume, usage per customer showed a slight decline in the quarter. The quarter-over-quarter increase in the commercial and governmental sectors reflects a similar increase in the number of customers. Sales in the industrial sector for fourth quarter 2007 equaled those for the same quarter of 2006 as the loss of one customer to cogeneration earlier in the year was offset by high utilization in the refining segment as well as some recovery in spot sales to cogeneration customers.

For the year 2007, Utility, Parent & Other earned $540.9 million, or $2.67 per share, on an as-reported basis, compared to $838.8 million, or $3.97 per share, in 2006. Operational earnings in 2007 were $554.6 million, or $2.74 per share, compared to $676.2 million, or $3.20 per share, in 2006. The lower operational earnings in 2007 were driven by higher income taxes, non-fuel operations and maintenance, and interest expense. Partially offsetting factors were higher revenues from sales growth and regulatory actions, higher transmission revenue, and the positive effect of accretion associated with Entergy's share repurchase program.

Entergy Nuclear

Entergy Nuclear earned $141.4 million, or 70 cents per share, on an as- reported basis and $159.8 million, or 79 cents per share, on an operational basis in fourth quarter 2007, compared to $57.7 million, or 27 cents per share, for as-reported and operational earnings in fourth quarter 2006. The improved operational results in fourth quarter 2007 came from increased revenues from pricing, the production available from Palisades, which was acquired in second quarter 2007, and lower income tax expense, partially offset by higher expense primarily associated with including Palisades in the portfolio. The lower income tax expense was primarily due to a step-up in the tax basis on the Indian Point 2 non-qualified decommissioning trust fund resulting from a restructuring of the trusts. This basis change resulted in a reduction in deferred taxes on the fund and lowered current tax expense. Annual adjustments in the fourth quarter of each year for consolidated income taxes also lowered income tax expense.

For the year 2007, Entergy Nuclear earned $539.2 million, or $2.66 per share, on an as-reported basis and $557.6 million, or $2.75 per share, on an operational basis, compared with $309.5 million, or $1.46 per share, for 2006 on both as-reported and operational bases. The increase in 2007 operational earnings was primarily due to increased revenue from higher contract pricing and higher generation due to the addition of Palisades to the portfolio. It was partially offset by an increase in planned and unplanned outage days in 2007 compared to 2006.




Non-Nuclear Wholesale Assets

Entergy's Non-Nuclear Wholesale Assets business earned $27.4 million, or 14 cents per share, on both as-reported and operational bases in fourth quarter 2007, compared to a loss of $16.0 million, or 8 cents per share, on an as-reported basis and earnings of $11.7 million, or 5 cents per share, on an operational basis in fourth quarter 2006. Lower income tax expense associated with annual consolidated income tax adjustments was the primary driver to higher results on a quarter-to-quarter basis.

For the year 2007, Entergy's Non-Nuclear Wholesale Assets business earned $54.8 million, or 27 cents per share, on as-reported and operational bases, compared to a loss of $15.7 million, or 7 cents per share, on an as-reported basis and earnings of $12.0 million, or 6 cents per share, on an operational basis in 2006. The increase in operational earnings in 2007 compared to 2006 is also primarily due to lower income tax expense.

Outlook

Entergy is reaffirming 2008 earnings guidance in the range of $6.50 to $6.90 per share on both as-reported and operational bases on a business as usual basis. Guidance for 2008 does not include a special item for expenses anticipated in connection with the plan to pursue separation of Entergy's non- utility nuclear business and to enter into a nuclear services joint venture, both discussed below.

Business Separation

On Nov. 3, 2007, Entergy's Board of Directors approved a plan to pursue a separation of the non-utility nuclear business from Entergy's regulated utility business through a tax-free spin-off of the non-utility nuclear business. SpinCo, the term used to identify the new company yet to be named, will be a new independent publicly traded company. In addition, SpinCo and Entergy Corporation intend to enter into a nuclear services joint venture, with equal ownership.

(MORE TO FOLLOW) Story 0351 Entergy Reports Fourth Quarter Earnings -2 -

Entergy is targeting third quarter 2008 for completion of the spin-off transaction. Progress achieved since the spin-off announcement includes:

-- A steering committee has been formed to lead the overall process and
make final recommendations on all major business and operational
issues; a project management office, with a cross-section of
organizational functions, has been established to coordinate the spin-
off process.



-- A supplement to Entergy's original filing with the Nuclear Regulatory
Commission has been provided to the NRC to reflect the spin-off
transaction.
-- Filings have been made in the states of New York and Vermont as
required under the laws of those states.



Entergy Corporation is an integrated energy company engaged primarily in electric power production and retail distribution operations. Entergy owns and operates power plants with approximately 30,000 megawatts of electric generating capacity, and it is the second-largest nuclear generator in the United States. Entergy delivers electricity to 2.7 million utility customers in Arkansas, Louisiana, Mississippi and Texas. Entergy has annual revenues of more than $11 billion and approximately 14,500 employees.

Additional information regarding Entergy's quarterly results of operations, regulatory proceedings, and other operations is available in Entergy's investor news release dated Jan. 29, 2008, a copy of which has been filed today with the Securities Exchange Commission on Form 8 -K and is available on Entergy's investor relations Web site at www.entergy.com/investor_relations.

In this press release, and from time to time, Entergy Corporation makes certain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Except to the extent required by the federal securities laws, Entergy undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.

Forward-looking statements involve a number of risks and uncertainties. There are factors that could cause actual results to differ materially from those expressed or implied in the forward-looking statements, including (a) those factors discussed in Entergy's Annual Report on Form 10 -K under (i) Forward-Looking Statements, (ii) Item 1A. Risk Factors, (iii) Item 7. Management's Financial Discussion and Analysis, and (iv) Current Report on Form 8 -K filed on November 5, 2007 and (b) the following transactional factors (in addition to others described elsewhere in this release and in subsequent securities filings): (i) risks inherent in the contemplated spin-off, joint venture and related transactions (including the level of debt incurred by SpinCo and the terms and costs related thereto), (ii) legislative and regulatory actions, and (iii) conditions of the capital markets during the periods covered by the forward-looking statements. Entergy cannot provide any assurances that the spin-off or any of the proposed transactions related thereto will be completed, nor can it give assurances as to the terms on which such transactions will be consummated. The transaction is subject to certain conditions precedent, including regulatory approvals and the final approval by the Board of Directors of Entergy.

Appendix A provides a reconciliation of GAAP as-reported earnings to non- GAAP operational earnings.



Appendix A: Consolidated Earnings - Reconciliation of GAAP to Non-GAAP
Measures
Fourth Quarter and Year-to-Date 2007 vs. 2006
(Per share in U.S. $)

Fourth Quarter Year-to-Date
2007 2006 Change 2007 2006 Change
As-Reported
Utility, Parent & Other 0.12 1.08 (0.96) 2.67 3.97 (1.30)
Entergy Nuclear 0.70 0.27 0.43 2.66 1.46 1.20
Non-Nuclear Wholesale
Assets 0.14 (0.08) 0.22 0.27 (0.07) 0.34
Consolidated
As-Reported Earnings 0.96 1.27 (0.31) 5.60 5.36 0.24

Less Special Items

Utility, Parent & Other (0.07) 0.61 (0.68) (0.07) 0.77 (0.84)
Entergy Nuclear (0.09) - (0.09) (0.09) - (0.09)
Non-Nuclear Wholesale
Assets - (0.13) 0.13 - (0.13) 0.13
Consolidated Special
Items (0.16) 0.48 (0.64) (0.16) 0.64 (0.80)

Operational

Utility, Parent & Other 0.19 0.47 (0.28) 2.74 3.20 (0.46)
Entergy Nuclear 0.79 0.27 0.52 2.75 1.46 1.29
Non-Nuclear Wholesale
Assets 0.14 0.05 0.09 0.27 0.06 0.21
Consolidated
Operational Earnings 1.12 0.79 0.33 5.76 4.72 1.04


Entergy Corporation
Consolidated Income Statement
Three Months Ended December 31
(in thousands)
%
2007 2006 Inc/(Dec)
(unaudited)



Operating Revenues:
Domestic electric $2,093,654 $2,031,364 3.1
Natural gas 48,058 20,708 132.1
Competitive businesses 590,188 428,833 37.6
Total 2,731,900 2,480,905 10.1
Operating Expenses:
Operation and maintenance:
Fuel, fuel-related expenses, and
gas purchased for resale 742,536 654,725 13.4
Purchased power 421,090 491,682 (14.4)
Nuclear refueling outage expenses 48,995 41,983 16.7
Other operation and maintenance 778,230 641,707 21.3
Decommissioning 44,391 37,097 19.7
Taxes other than income taxes 120,905 100,567 20.2
Depreciation and amortization 253,585 232,419 9.1
Other regulatory charges (credits) -
net (7,233) 1,830 (495.2)
Total 2,402,499 2,202,010 9.1
Operating Income 329,401 278,895 18.1
Other Income (Deductions):
Allowance for equity funds used during
construction 8,658 7,806 10.9
Interest and dividend income 59,186 82,146 (28.0)

Equity in earnings of unconsolidated
equity affiliates (358) 66,902 (100.5)
Miscellaneous - net (6,979) (680) 926.3
Total 60,507 156,174 (61.3)
Interest and Other Charges:
Interest on long-term debt 125,768 129,393 (2.8)
Other interest - net 37,723 27,971 34.9
Allowance for borrowed funds used
during construction (4,857) (4,943) (1.7)
Preferred dividend requirements of
subsidiaries and other 6,321 5,160 22.5
Total 164,955 157,581 4.7

Income From Continuing Operations Before
Income Taxes 224,953 277,488 (18.9)
Income Taxes 31,060 (1,126) (2,858.4)
Income From Continuing Operations 193,893 278,614 (30.4)
Loss From Discontinued Operations (net of
taxes of ($5,356)) - (10,326) -
Consolidated Net Income $193,893 $268,288 (27.7)

Earnings Per Average Common Share (from

continuing operations):



Basic $1.00 $1.35 (25.9)
Diluted $0.96 $1.32 (27.3)
Loss Per Average Common Share (from
discontinued operations):
Basic - (0.05) -
Diluted - (0.05) -
Earnings Per Average Common Share:
Basic $1.00 $1.30 (23.1)
Diluted $0.96 $1.27 (24.4)
Average Number of Common Shares
Outstanding - Basic 193,989,216 205,741,365
Average Number of Common Shares
Outstanding - Diluted 200,939,727 210,615,114



Entergy Corporation
Consolidated Income Statement
Twelve Months Ended December 31
(in thousands)

%
2007 2006 Inc/(Dec)

(unaudited)

Operating Revenues:
Domestic electric $9,046,301 $9,063,135 (0.2)
Natural gas 206,073 84,230 144.7
Competitive businesses 2,232,024 1,784,793 25.1
Total 11,484,398 10,932,158 5.1
Operating Expenses:
Operation and maintenance:
Fuel, fuel-related expenses, and
gas purchased for resale 2,934,833 3,144,073 (6.7)
Purchased power 1,986,950 2,138,237 (7.1)


(MORE TO FOLLOW) Story 0352 Entergy Reports Fourth Quarter Earnings -3 -

Nuclear refueling outage
expenses 180,971 169,567 6.7
Other operation and
maintenance 2,649,654 2,335,364 13.5
Decommissioning 167,898 145,884 15.1
Taxes other than income taxes 489,058 428,561 14.1
Depreciation and amortization 963,712 887,792 8.6
Other regulatory charges (credits) -
net 54,954 (122,680) (144.8)


Total 9,428,030 9,126,798 3.3
Operating Income 2,056,368 1,805,360 13.9
Other Income (Deductions):
Allowance for equity funds used during
construction 42,742 39,894 7.1
Interest and dividend income 233,997 198,835 17.7
Equity in earnings of unconsolidated
equity affiliates 3,176 93,744 (96.6)
Miscellaneous - net (24,860) 16,114 (254.3)
Total 255,055 348,587 (26.8)
Interest and Other Charges:
Interest on long-term debt 506,089 498,451 1.5
Other interest - net 155,995 75,502 106.6
Allowance for borrowed funds used
during construction (25,032) (23,931) 4.6
Preferred dividend requirements of
subsidiaries and other 25,105 27,783 (9.6)
Total 662,157 577,805 14.6

Income From Continuing Operations Before
Income Taxes 1,649,266 1,576,142 4.6
Income Taxes 514,417 443,044 16.1
Income From Continuing Operations 1,134,849 1,133,098 0.2


Loss From Discontinued Operations (net of
taxes of $67) - (496) -
Consolidated Net Income $1,134,849 $1,132,602 0.2

Earnings Per Average Common Share (from
continuing operations):
Basic $5.77 $5.46 5.7
Diluted $5.60 $5.36 4.5
Earnings Per Average Common Share (from
discontinued operations):
Basic - - -
Diluted - - -
Earnings Per Average Common Share:
Basic $5.77 $5.46 5.7
Diluted $5.60 $5.36 4.5
Average Number of Common Shares
Outstanding - Basic 196,572,945 207,456,838

Average Number of Common Shares

Outstanding - Diluted 202,780,283 211,452,455


Entergy Corporation



Utility Electric Energy Sales & Customers
Entergy New Orleans Re-consolidated

Three Months Ended December 31

%
% Weather-
2007 2006 Change Adjusted
(Millions of kwh)
Electric Energy Sales:
Residential 7,376 7,163 3.0 0.2
Commercial 6,700 6,439 4.1 1.3
Governmental 590 588 0.4 (0.7)
Industrial 9,729 9,724 - -
Total to Ultimate
Customers 24,395 23,914 2.0 0.4
Wholesale 1,666 1,470 13.3
Total Sales 26,061 25,384 2.7



Twelve Months Ended December 31
%


% Weather-
2007 2006 Change Adjusted
(Millions of kwh)
Electric Energy Sales:
Residential 33,281 32,579 2.2 1.8
Commercial 27,408 26,745 2.5 2.2
Governmental 2,339 2,212 5.7 5.7
Industrial 38,985 38,886 0.3 0.3
Total to Ultimate
Customers 102,013 100,422 1.6 1.4
Wholesale 6,145 7,137 (13.9)
Total Sales 108,158 107,559 0.6



December 31

%
2007 2006 Change
Electric Customers (End of
period):
Residential 2,284,821 2,238,379 2.1
Commercial 325,109 317,803 2.3


Governmental 14,978 14,477 3.5
Industrial 43,542 44,548 (2.3)
Total Ultimate Customers 2,668,450 2,615,207 2.0
Wholesale 29 32 (9.4)
Total Customers 2,668,479 2,615,239 2.0


Customer count data reflects estimates of customers in the hardest hit areas affected by Hurricane Katrina. Issues associated with temporary housing and resumption of service at permanent dwellings render precise counts difficult at this time.

SOURCE Entergy Corporation

/CONTACT: News Media, Yolanda Pollard, [phone], [e-mail], or Investor Relations, Michele Lopiccolo, [phone], [e-mail], both of Entergy Corporation /Web site: http://www.entergy.com/

(END)
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[Seminole Red]

what does this mean to me ?? i have 1,933 shares

Public Service Enterprise Unit To De-Register Shares
01/28 2:05 am (ON)
Story 0607 (PEG)

DOW JONES NEWSWIRES

Public Service Enterprise Group Inc. (PEG) said its PSEG Energy Holdings unit has notified the Securities and Exchange Commission that it plans to de-register its shares and suspend the filing of certain financial statements, effective immediately.

The Newark, N.J., energy holding company said Monday the change, which PSEG Energy filed Monday with the SEC, will streamline the company's financial reporting and enable it to avoid additional expenses.

The Energy Holdings unit has fewer than 300 holders for any class of its securities, meaning that Public Service Enterprise is allowed to suspend its reporting requirements under SEC rules, the company said.

Public Service Enterprise shares were recently trading up $1.04, or 1.1%, at $91.91.

-Monica M. Clark; 201 -938 -5400; [e-mail]

(END) Dow Jones Newswires

01 -28 -08 1405ET

Copyright (c) 2008 Dow Jones & Company, Inc.

[Seminole Red]

heres a cheap one...i got 9,718 shares of it.....20 bucks a share....sure would be nice to see it go up 10/15 bucks...


Xcel Energy Inc. Announces Sale of Junior Subordinated Notes
01/16 11:13 am (BW)
Story 1483 (XEL)
MINNEAPOLIS--(BUSINESS WIRE)--January 16, 2008 --


Xcel Energy Inc. (NYSE: XEL) (the "Company") announced today the sale of $400,000,000 of its 7.60% Junior Subordinated Notes, Series due 2068 (the "Notes"). The Notes were offered to the public at $25.00 per note. The Company will apply for the listing of the Notes on the New York Stock Exchange.

The Company intends to add the net proceeds from the sale of the Notes to its general funds and use those proceeds to fund equity investments in one or more of its utility subsidiaries that will be used to repay short-term debt of the subsidiary. The remaining proceeds will be used to repay commercial paper.

Morgan Stanley & Co. Incorporated and Citi acted as joint book-running managers in the offering. Morgan Stanley & Co. Incorporated and JP Morgan Securities Inc. acted as joint structuring advisors and Merrill Lynch, Pierce, Fenner & Smith Incorporated and UBS Securities LLC acted as senior co-managers in the offering.

This news release does not constitute an offer to sell or the solicitation of an offer to buy any of the Notes nor shall there be any sale of the Notes in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. The offering of the Notes may be made only by means of a prospectus supplement and accompanying prospectus.

Xcel Energy is a major U.S. electricity and natural gas company with regulated operations in eight Western and Midwestern states. Xcel Energy provides a comprehensive portfolio of energy-related products and services to 3.3 million electricity customers and 1.8 million natural gas customers through its regulated operating companies. Company headquarters are located in Minneapolis. More information is available at www.xcelenergy.com.

CONTACT: Xcel Energy Inc.




Financial analysts may call:
Paul Johnson, 612 -215 -4535
Managing Director, Investor Relations
or
Jack Nielsen, 612 -215 -4559
Director, Investor Relations
or
News media may call:
Xcel Energy Media Relations, 612 -215 -5300

SOURCE: Xcel Energy Inc. Copyright Business Wire 2008

(END)