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 announced a quarterly earnings conference call scheduled for 9 a.m. ET on July 22, 2021. The call will be accessible online, providing audio and visual content, and will be archived for future access. AEP, based in Columbus, Ohio, operates the largest electricity transmission system in the U.S., serving 5.5 million customers. The company aims to increase its renewable energy capacity to 50% of its total by 2030 and has committed to achieving net zero carbon emissions by 2050.
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MGM Resorts International has launched a groundbreaking 100-megawatt solar array, marking the largest directly sourced renewable electricity project in the hospitality industry. This array powers up to 90% of MGM Resorts' daytime energy needs for its 13 properties on the Las Vegas Strip, which collectively house over 36,000 rooms. The array features 323,000 solar panels across 640 acres and significantly advances MGM's sustainability goals, including a 50% reduction in greenhouse gas emissions by 2030 and sourcing 100% renewable electricity in the U.S. by 2030.
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.
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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.