Welcome to our dedicated page for Americn Electric news (Ticker: AEP), a resource for investors and traders seeking the latest updates and insights on Americn Electric 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) 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.
American Electric Power (AEP) has issued a request for proposals (RFP) for coal supply to its generating stations across various coal regions. The proposal aims for delivery in 2022 to 2024, with specific tonnages outlined for the Central Appalachian, Illinois, Powder River, and Northern Appalachian Basins. Notably, AEP seeks 1 million tons in 2022 from the Central Appalachian Basin, 3 million tons in 2022 from the Powder River Basin, and more for subsequent years. Proposals must be submitted by May 26, 2021, and remain valid until June 18, 2021.
The St. Joseph Solar Farm in South Bend, Indiana, launched by Indiana Michigan Power, a subsidiary of American Electric Power (AEP), is now operational, generating emission-free renewable energy. This 20-megawatt facility is AEP's largest solar project to date and utilizes 57,720 solar panels, enough to power 2,700 homes annually. Notre Dame will support 40% of the renewable energy certificates generated. The project aligns with AEP's commitment to reach net-zero carbon emissions by 2050, promoting sustainability while servicing local energy needs.
AEP Energy, part of American Electric Power (AEP), has signed a long-term renewable energy purchase agreement with Doral LLC for the Mammoth Solar project in Indiana. The first phase, Mammoth Solar 1, will produce 480 MWdc and is part of a larger 1.65 GWdc initiative. Construction is set to begin in Q4 2021, with commercial operation expected by Q2 2023. This agreement is one of the largest in the PJM market and will significantly reduce greenhouse gas emissions and save water. The project is projected to create jobs and invest hundreds of millions into the local economy.
American Electric Power (AEP) reported Q1 2021 earnings of $575 million or $1.16 per share, a significant increase from $495 million or $1.00 per share in Q1 2020. Operating earnings rose to $571 million or $1.15 per share, compared to $504 million or $1.02 per share a year earlier. Revenue increased to $4.3 billion from $3.7 billion, reflecting strong performance in their Transmission Holding Co. business, contributing 35 cents per share. AEP reaffirmed its 2021 operating earnings guidance between $4.55 to $4.75 per share.