Americn Electric Stock Price, News & Analysis

Southwestern Electric Power Co. (SWEPCO), a subsidiary of American Electric Power (AEP), announced on June 28, 2021, three Requests for Proposals (RFP) for renewable and short-term generating capacity. The RFPs aim to procure up to 3,000 MW of wind resources, 300 MW of solar resources, and 250 MW of short-term capacity. Proposals must meet specific criteria including minimum capacity and location. The deadline for submissions is August 12, 2021, pending regulatory approvals. SWEPCO serves over 543,000 customers across the south-central U.S.

The American Electric Power Foundation has awarded a $1 million grant to the YWCA in Columbus, Ohio. This grant is part of a $5 million commitment under the foundation's Delivering on the Dream initiative, aimed at advancing social and racial justice over five years. The YWCA will use the funds for housing justice and economic mobility for women and people of color, emphasizing Diversity, Equity & Inclusion training and civic engagement. This initiative reflects AEP's commitment to improving community outcomes and addressing systemic issues.

American Electric Power (AEP) announces plans to sell approximately 3.1 million gallons of Dyed No. 2 Fuel Oil from its Riverside Plant in Jenks, Oklahoma, starting July 21, 2021. Interested buyers must submit fixed price bids via email by noon CT on July 13, 2021, with bids remaining effective until noon CT on July 20, 2021. Proposals should comply with specific requirements, including the provision of a calibrated flow gauge meter. For further details, bidders can contact Grant Circle at (614) 216-9195 or visit AEP's official website.

American Electric Power (AEP) announced leadership changes effective July 31, aimed at enhancing skills within its management team as part of succession planning. Mark McCullough, EVP of Energy Delivery, is retiring after 40 years. Toby Thomas will transition to Senior VP of Energy Delivery, while Raja Sundararajan becomes Senior VP of Regulatory and Customer Solutions. Janelle Coleman is now VP of Community Engagement, Diversity & Inclusion. Marc Reitter is promoted to President and COO for AEP Ohio. The company emphasizes its commitment to clean energy and infrastructure improvements.

American Electric Power (AEP) announced key executive leadership changes, effective July 1, 2021. Therace M. Risch is promoted to executive vice president and chief information & technology officer, overseeing technology and security initiatives. Charles E. Zebula becomes executive vice president – Portfolio Optimization, while Greg B. Hall is named executive vice president – Energy Supply. Notably, the position of Brian X. Tierney, the former executive vice president – Strategy, is eliminated. These changes aim to enhance AEP's strategic direction and operational efficiency to support growth.

Cardinal Operating Company, representing AEP Generation Resources (AEPGR), is soliciting bids for barging and harbor services starting January 1, 2022. The contracts will last three to five years, and bidders can submit proposals for either or both services. The deadline for proposals is June 14, 2021, and chosen bids will remain open for acceptance until July 16, 2021. AEP Energy Supply oversees Cardinal Unit 1, while Buckeye Power manages Units 2 and 3. AEP operates the largest electricity transmission system in the U.S., serving 5.5 million customers across 11 states.

Cardinal Operating Company (COC), on behalf of AEP Generation Resources, is inviting bids for coal supply to Cardinal Power Plant Units 1, 2, and 3. The bid period includes spot coal for delivery starting Q4 2021 and term coal starting Q1 2022, lasting up to three years. Proposals must be submitted by 5 p.m. on June 7, 2021, and will remain open until July 16, 2021. AEP is a major electricity producer in the U.S. with a capacity of approximately 30,000 megawatts, including over 5,500 megawatts in renewable energy.

American Electric Power (AEP) released its 2021 Corporate Accountability Report, marking 15 years of sustainability reporting. The report emphasizes AEP's commitment to clean, reliable energy, targeting an 80% reduction in emissions by 2030 and net zero by 2050. AEP plans to add 16,600 MW of renewable energy by 2030, aiming for 51% of total capacity from renewables. The AEP Foundation contributed nearly $4 million in COVID-19 emergency funds and launched a $5 million grant program for equity and justice initiatives.