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 (Nasdaq: AEP) has updated its operating earnings guidance for 2022, now projected between $4.97 and $5.07 per share, with a 2023 forecast of $5.19 to $5.39 per share. The company is prioritizing investments totaling $40 billion from 2023-2027, focusing on transmission, distribution, and renewable energy. AEP has also accelerated its carbon reduction goals, aiming for an 80% reduction in emissions by 2030 and achieving net-zero by 2045. Strategic divestitures are set to streamline the business, enhancing shareholder value.
American Electric Power (Nasdaq: AEP) appointed Juliet Majtenyi as vice president of Project Solutions, Generation, effective Oct. 22, 2022. She replaces Frank Pifer, who retires after over 35 years. Majtenyi will oversee project management and capital excellence activities, reporting to Paul Chodak, executive vice president. Her extensive experience in project controls since joining AEP in 2006 positions her to support AEP's shift toward a cleaner energy future, with plans to increase renewable generation capacity to 50% by 2030.
American Electric Power (AEP) has signed an amended agreement for the sale of its Kentucky operations to Liberty, with a closing expected in January 2023, pending Federal Energy Regulatory Commission (FERC) approval by December 16. Liberty will acquire Kentucky Power and AEP Kentucky Transco for $2.646 billion, with AEP receiving about $1.2 billion in cash after taxes and fees. AEP anticipates a pre-tax GAAP loss of $180 million to $220 million in Q3 2022 due to this amendment. The deal is expected to enhance customer benefits in Eastern Kentucky and support AEP's future investments.
American Electric Power (AEP) has announced significant organizational changes to align with its strategic goals. Peggy Simmons has been appointed executive vice president – Utilities, overseeing utility company presidents and customer service. Chris Beam becomes executive vice president – Energy Services. Leigh Anne Strahler will replace Simmons as president and COO of Public Service Company of Oklahoma, while Aaron Walker succeeds Beam at Appalachian Power. The executive vice president and COO role is being eliminated, with Lisa Barton transitioning until November 1. AEP aims for cleaner energy solutions and enhanced customer satisfaction.
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American Electric Power (AEP) announced a request for proposal (RFP) for coal supply to its generating stations across multiple regions, including the Central Appalachian, Illinois, Powder River, and Northern Appalachian Basins. Proposals are requested for the balance of 2022 through 2025, and submissions must be received by 5 p.m. ET on September 28, 2022. The proposals will remain open until 5 p.m. ET on November 4, 2022. This initiative aligns with AEP's plans to enhance its energy portfolio, which includes a commitment to 50% renewable energy by 2030 and an 80% reduction in carbon emissions by 2030.
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American Electric Power (Nasdaq: AEP) has announced a leadership transition with Julie A. Sloat appointed as president and CEO effective January 1, 2023. She succeeds Nicholas K. Akins, who will become executive chair after serving as CEO since 2011. Sloat has been CFO since January 2021 and is credited with enhancing financial performance. AEP plans to invest in clean energy technologies and aims for 50% renewable generation by 2030, targeting 80% carbon dioxide emission reductions from 2000 levels. AEP serves 5.5 million customers across 11 states.
American Electric Power (Nasdaq: AEP) has finalized the sale of the 595-megawatt Cardinal Plant Unit 1 in Brilliant, Ohio, to Buckeye Power, completing its exit from competitive generation ownership in Ohio. The deal, approved by the Federal Energy Regulatory Commission on May 19, includes a power purchase agreement allowing AEP Generation Resources to buy 100% of Unit 1's output through 2028. This move emphasizes AEP's focus on regulated operations and future renewable energy growth, with plans to increase renewable generation capacity to 50% by 2030.
American Electric Power (AEP) has appointed Renee V. Hawkins as vice president – Finance & Treasury, effective Aug. 6, 2022. Previously managing director of Corporate Finance, Hawkins brings over 26 years of experience in the energy sector. Her responsibilities will include cash management and corporate finance, reporting to Julie Sherwood, senior VP – Treasury & Risk. AEP aims for an 80% reduction in carbon emissions by 2030 and plans to grow its renewable capacity to approximately 50% of total capacity by the same year.