Americn Electric Stock Price, News & Analysis

American Electric Power (AEP) has appointed Emily J. Duncan as senior vice president, Federal Affairs, effective February 13, 2023. Duncan, previously vice president of Government Relations at National Grid, brings 15 years of experience managing energy policy issues.

She will oversee AEP's engagements with federal officials and regulatory agencies, succeeding Tony Kavanagh, who retires on June 30, 2023. Duncan's background includes roles at the Solar Energy Industries Association and leadership positions in various energy organizations.

American Electric Power (Nasdaq: AEP) has appointed Stacey Burbure as vice president of FERC and RTO Strategy and Policy, effective Feb. 4, 2023. Burbure, who previously served as senior counsel for transmission policy and rates, takes over from Amanda Conner, who is now chief of staff to Julie Sloat, AEP's president and CEO. With nearly 20 years of experience, Burbure will lead AEP's regulatory efforts at the Federal Energy Regulatory Commission and Regional Transmission Organizations. Her role will focus on developing the electric system as the company invests in infrastructure and new generation sources to provide safe and reliable electricity.

On January 24, 2023, American Electric Power (AEP) announced a quarterly cash dividend of 83 cents per share on its common stock. This dividend, marking the company's 451st consecutive quarterly payment, will be payable on March 10, 2023, to shareholders of record by February 10, 2023. AEP has consistently provided cash dividends since July 1910. The company operates the largest electricity transmission system in the U.S., serving 5.5 million customers across 11 states, and has plans to increase its renewable generation portfolio to 50% by 2032 while aiming for an 80% reduction in carbon dioxide emissions by 2030.

AEP Ohio has filed an Electric Security Plan (ESP) application with the Public Utilities Commission of Ohio, committing to invest $2.2 billion in reliability-focused projects over six years. The plan includes upgrading aging equipment, improving circuits with frequent outages, and building new lines and substations. Residential energy efficiency programs and a Senior Discount Program are also proposed. If approved, customers may see a 2% average monthly increase, approximately $4 annually. The proposal aims to enhance electric grid reliability amid growing demands.

AEP Energy Partners, a subsidiary of American Electric Power (AEP), is seeking proposals for renewable energy projects in the PJM and ERCOT regions. The company aims to secure long-term renewable energy purchase agreements, with terms ranging from 5 to 15 years, to support the growing retail and wholesale loads in Texas and Ohio. Notice of intent to bid is due by December 30, 2022, with proposal packages required by January 13, 2023. The initiative aligns with AEP's commitment to a clean energy future and expanding its renewable energy capacity.

On November 17, 2022, Public Service Company of Oklahoma (PSO) submitted a proposal to the Oklahoma Corporation Commission for a fuel-free power plan involving a $2.47 billion investment in renewable energy. The plan includes three wind farms and three solar facilities that will generate 995.5 megawatts of energy, aiming to stabilize electricity costs for customers. The average residential monthly bill is projected to rise by $3.48 (2.6%). This initiative aims to protect against market volatility in natural gas prices and is expected to save customers $1 billion in fuel costs over 30 years.