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) is part of the Electric Highway Coalition, a group of six major utilities committed to creating a seamless network of DC fast chargers for electric vehicles (EVs) across the U.S. This initiative aims to facilitate long-distance travel for EV drivers, addressing concerns over charging station availability. AEP plans to replace 2,300 vehicles with EV models by 2030 and is working with regulators to promote EV adoption through various customer programs. The coalition anticipates significant growth in EV usage, with an estimated 18 million EVs on U.S. roads by 2030.
American Electric Power (AEP) announced its fourth-quarter 2020 results, showing GAAP earnings of $436 million ($0.88 per share), a substantial increase from $154 million ($0.31 per share) in Q4 2019. For the full year, GAAP earnings reached $2.2 billion ($4.44 per share), up from $1.921 billion ($3.89 per share) in 2019. The company raised its 2021 earnings guidance to $4.55 to $4.75 per share. AEP plans to add over 10,000 megawatts of renewable energy by 2030 and aims for an 80% reduction in carbon emissions by 2030, moving towards net-zero by 2050.
American Electric Power (AEP) has scheduled its quarterly earnings conference call for 9 a.m. ET on February 25, 2021. The call will be available via live webcast, featuring audio and visuals of charts referenced by AEP management. AEP operates the largest electricity transmission system in the U.S., serving nearly 5.5 million customers across 11 states, with significant generating capacity including over 5,300 megawatts from renewable sources. The recorded call will be archived for later access on the AEP website.
American Electric Power (AEP) has announced the impending sale of its 48-MW hydroelectric Racine Plant in Ohio to Eagle Creek Renewable Energy. This move is part of AEP's strategy to focus on regulated operations and invest in infrastructure and renewable energy. The deal is set to close in Q2 2021, pending Federal Energy Regulatory Commission approval, but the sale price remains undisclosed. AEP Generation Resources has retired or sold most of its capacity, with only the 595-MW Cardinal Plant Unit 1 expected to retire in 2030.
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On January 19, 2021, American Electric Power Co. (Nasdaq: AEP) announced a quarterly cash dividend of 74 cents per share, marking its 443rd consecutive dividend. This dividend will be paid on March 10, 2021, to shareholders on record as of February 10, 2021. AEP has maintained dividend payments since July 1910, showcasing its long-standing financial commitment. With a robust energy infrastructure, AEP services nearly 5.5 million customers and has a generating capacity of around 30,000 megawatts, including over 5,300 megawatts from renewable sources.
American Electric Power (AEP) announces key leadership changes effective January 1, 2021. Julie A. Sherwood will become the senior vice president of Treasury & Risk, succeeding Julie Sloat, who will assume the role of executive vice president and chief financial officer. Melissa A. McHenry is appointed senior vice president of Communications & Marketing, replacing retiring Dale E. Heydlauff. These changes aim to strengthen AEP's financial management and enhance its communications strategy as the company focuses on delivering innovative energy solutions.
Daryl Roberts has been elected to the Board of Directors of American Electric Power (Nasdaq: AEP). With over 20 years in leadership roles at DuPont and Arkema, he brings extensive experience in operations and compliance. AEP's chairman, Nicholas K. Akins, noted that Roberts' insights will be valuable as the company pushes for cleaner energy technologies and an improved energy system. AEP serves 5.5 million customers across 11 states and is one of the largest electricity producers in the U.S., with significant renewable generation capabilities.
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