Welcome to our dedicated page for American Electric Power news (Ticker: AEP), a resource for investors and traders seeking the latest updates and insights on American Electric Power stock.
American Electric Power Company, Inc. reports regulated-utility developments across electricity generation, transmission and distribution. The company serves more than 5 million customers in 11 states and operates through utility businesses that include AEP Ohio, Indiana Michigan Power, Appalachian Power, AEP Texas and Southwestern Electric Power Co.
Recurring AEP news covers earnings, operating guidance, common stock dividends, capital investment plans, high-voltage transmission projects, customer load growth and data center-related power demand. Company updates also address operating-company leadership, state regulatory and stakeholder matters, and infrastructure planning tied to reliability and system expansion.
American Electric Power (AEP) has signed a deal to sell its 1,365 MW unregulated renewables portfolio to IRG Acquisition Holdings for an enterprise value of $1.5 billion. The transaction, expected to close in Q2 2023, will net AEP approximately $1.2 billion in cash after taxes and fees. This sale aligns with AEP's strategy to focus on regulated businesses and invest about $40 billion in new generation resources over the next five years, aiming to add 17,000 MW and enhance infrastructure. The portfolio includes 14 projects across 11 states, with long-term contracts.
American Electric Power (AEP) has scheduled a quarterly earnings conference call for Feb. 23, 2023, at 9 a.m. ET, to discuss financial results with analysts. The call will be accessible live via webcast, featuring audio and visuals. AEP, headquartered in Columbus, Ohio, delivers power to 5.5 million customers across 11 states and operates the largest electricity transmission system in the U.S. The company aims to increase its renewable generation portfolio to 50% by 2032 and target an 80% reduction in carbon emissions by 2030, committing to net-zero emissions by 2045.
On February 13, 2023, American Electric Power (AEP) and Liberty filed a new application with the Federal Energy Regulatory Commission (FERC) to expedite the sale of AEP's Kentucky operations. This follows FERC's earlier denial in December 2022, which required additional customer protection information. AEP aims to finalize the transaction by April 26, 2023. The new application assures no adverse impact on customer rates and outlines financial measures from Liberty, including a $40 million fund for volatile fuel rates. The deal promises economic benefits for eastern Kentucky, such as new jobs and local service enhancements.
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.
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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.
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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.
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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.