Summary

American Electric Power is a major U.S. investor-owned electric utility with generation, transmission, and distribution operations. The company’s vertically integrated utilities and distribution utilities deliver electricity to more than 5.5 million customers in 11 states in the Midwest and Southeast. AEP ranks among the nation’s largest generators of electricity, with about 25,000 megawatts of generating capacity and 225,000 distribution lines. AEP also owns the nation’s largest electricity transmission system, with 40,000 system miles. Retail revenues account for about 70% of total revenue, while transmission and distribution utilities account for about 25%. Vertically integrated subsidiaries account for just under half of operating earnings. With the August 2022 sale of its competitive generating plant, Cardinal 1, in Ohio, the company has exited the wholesale generation business and left the Ohio competitive electricity market. AEP’s energy mix is approximately 45% coal, 7% nuclear, 28% natural gas, and 17% renewables. While still heavily reliant on coal, the company is expanding its use of renewable energy with investments in wind generation. It plans to be carbon-zero by 2050.

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Source: finance.yahoo.com