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American Electric Power (AEP)

American Electric Power (AEP)

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American Electric Power Profile

American Electric Power (AEP.xnys) is an investor-owned electric utility company headquartered in Ohio, the United States. AEP owns the most extensive electricity transmission system in the United States and has about 16,800 employees across 39 locations. American Electric Power provides electricity and other related services to more than 5.5 million U.S. customers, although its 2020 annual revenue of $14.92B (USD) had a 4% decrease compared to the 2019 report. American Electric Power (AEP.xnys) is traded on NASDAQ as a component of the Dow Jones Utility Average Index (DJUA), component of the NASDAQ-100 Index (^NDX), the Standard and Poor’s 500 Index (S&P-500) and its current market cap are $44.61B (USD). In 2018, American Electric Power announced plans of an 80% carbon emissions reduction by 2050 and the start of the installation program of electric vehicle infrastructure by investing $10M (USD) to install up to 375 electric vehicle charging stations even though AEP has come under criticism in the past for attacking rooftop solar and introducing bills through legislators, designed to weaken or repeal renewable energy mandates. In March 2021, the Electric Highway Coalition (EHC) began its membership with American Electric Power to enable long-distance electric vehicle (EV) travel through a network of fast-charging stations connecting major highway systems. Doral LLC and American Electric Power announced in August 2021 that they have signed an additional long-term renewable energy purchase agreement for the second phase of a Mammoth solar project in Indiana.

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