Their ROE was above authorized due to favorable regulatory items and a transmission true-up, partially offset by the roll-off of legacy fuel and capacity carrying charge recoveries.We expect the year-end ROE to trend around authorized levels of 10% as we maintain concurrent capital recovery of distribution and transmission investment.In June 2020, as I said earlier, we filed a rate case in Ohio. Thanks, Darcy. It seems like year-to-date, if you just look at it on an after-tax basis, you guys are already kind of running above that kind of $100 million sort of run rate.How should we, I guess, think about the nontracked O&M versus the additional O&M that you are actually pulling out in response to COVID?And as we think about 2021, is there any guidance, I guess, you could give us on how much of that you think will be retainable as we move into next year?--------------------------------------------------------------------------------Brian X. Tierney, American Electric Power Company, Inc. - Executive VP & CFO [23]--------------------------------------------------------------------------------Yes.
"What you get from AEP is our consistent focus on being a positive tone, attitude and performance that will help our communities and customers get through this pandemic and the culture issues that's scarring our society.We will continue to be uniquely qualified to bring stakeholders together to move toward a clean energy future for our customers and again provide the quality dividends and earnings that our shareholders expect.--------------------------------------------------------------------------------Brian X. Tierney, American Electric Power Company, Inc. - Executive VP & CFO [4]--------------------------------------------------------------------------------Thank you, Nick, and good morning, everyone.
But I'll say the incremental $100 million that we're able to garner is a combination of sustainable and one-timers.And I think it's a matter of managing our way through the downturn in normalized load and just working as hard as we can to pull out all the stops to make sure that we meet our commitments to shareholders and really target the middle part of that range without impacting customers.And so far, we've been able to do that.
Operating earnings through June were $2.10 per share or $1 billion compared to $2.19 per share or $1.1 billion in 2019.Looking at the drivers by segment. Our overall regulated operations, ROE is currently 9.1%. As far as load is concerned, we continue to see the arbitrage between residential load and negative industrial and commercial load during the quarter.As we continue to look for leading indicators as to the health of the state economies, we have been pleased to see the new customer connections remain stable and some jurisdictions increasing from 2019 levels.Looking forward, we expect to see a continued shift to a certain degree from residential load back to commercial and industrial albeit these shifts will be dependent upon the nature of the pandemic recovery.During the COVID-19 crisis, we continue to take all appropriate measures to ensure the safety of our employees, both in the field and for those who can work from home. Additionally, attendees will have access to session recordings and handouts. Our earnings release, presentation slides and related financial information are available on our website at aep.com.Today, we will be making forward-looking statements during the call. We have not been contacted by any authorities conducting the investigation.If at any point we are, we will cooperate fully. If you have a position you would like to advertise please contact aepcentral@gmail.com. I'm just curious about -- maybe I can ask you more of a high-level question. And there's no question that we have the foundation to be able to do it.----------------------------------------------------------------------------------------------------------------------------------------------------------------Next, we will go to the line of Durgesh Chopra with Evercore ISI.--------------------------------------------------------------------------------Durgesh Chopra, Evercore ISI Institutional Equities, Research Division - Associate [30]----------------------------------------------------------------------------------------------------------------------------------------------------------------Nicholas K. Akins, American Electric Power Company, Inc. - Chairman, President & CEO [31]----------------------------------------------------------------------------------------------------------------------------------------------------------------Durgesh Chopra, Evercore ISI Institutional Equities, Research Division - Associate [32]--------------------------------------------------------------------------------Okay. The AEP community offers an invaluable forum for sharing best practices and exchanging ideas. And we're now supporting recovery efforts in the Northeast as well.
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