To be sustainable we must address the fundamental issues that make equity investors want to buy our stock and the financial community willing to lend us money. We will grow the company by putting capital to work at fair rates of return. We will retain our access to credit markets by maintaining our investment grade credit ratings. We will maintain our equity strength by rewarding our shareholders with a stable dividend. These are the hallmarks of a financially strong electric utility.

As an electric utility, our mandate is to: provide reliable, cost-effective electricity while being good environmental stewards; protect the safety and health of our employees, contractors and communities; listen, learn and engage with our various stakeholders; and, develop a work force ready for tomorrow's technologies. How well we do these things is fundamental to our ability to grow and be profitable.

We are sensitive to the fact that some of our customers have seen their rates increase between 20 and 50 percent during the last three years, driven largely by government environmental mandates and fuel costs. These costs will continue to rise, especially as our country begins to address climate change. We are aware that the recession has been difficult on our customers and the communities we serve, as well as our employees. We will continue to invest and spend prudently in order to comply with environmental laws and to fulfill our mandate to provide reliable and reasonably priced electricity. As the economy rebounds, we will be there with the electricity needed to fuel the recovery.

Our sustainability is directly linked to our financial success. That is why we report extensively on our non-financial performance annually, in addition to our regular financial reporting. We believe this provides the context needed for investors and lenders to make informed decisions and drives continuous improvement within the company.

I invite you to learn more about AEP and why we believe it is a solid long-term investment.