American Electric Power Co Inc distributes, generates, and transmits electricity across the United States.
The electric energy company claims to power millions of homes and businesses across 11 states of the United States and serves around 5.5 million residential and commercial customers.
The public utility holding company was founded in 1906 in New York.
The utility services provider owns and operates various electricity transmission, generation, and distribution facilities through its various subsidiaries. The holding company’s stocks are traded on the stock exchange of New York stock under the symbol ‘AEP’.
American Electric Power aims to provide innovative and sustainable energy solutions to improve lives and empower communities.
The company claims that its 40,000-mile electricity transmission network is the largest in the United States. In addition, American Electric Power operates and owns 60 power generation stations with a combined capacity of approximately 30,000 megawatts that provides energy to around 26 million customers across the country, including:
Apart from power generation, the US-based company also focuses on conserving natural resources, reclamation of land, offsetting greenhouse gas emissions, etc. The company claims that the reclaimed areas are used for recreational activities such as camping, fishing, biking, hiking, etc. It also prioritizes on safety across its energy operations.
The company also aims to contribute to economic development and reportedly provides smart infrastructure investment to encourage capital investment, attract high-quality job opportunities, and stimulate local economies.
The energy utility holding company operates through several subsidiaries, including Ohio Power Company, Appalachian Power, Kentucky Power Co, AEP Energy Partners, Inc, AEP Texas, Indiana Michigan Power, etc.
On August 9, 2021, AEP Energy and Doral LLC inked an additional purchase agreement for the previously announced Mammoth Solar Project in Indiana. The company’s subsidiary, AEP Energy, provides energy services to over 700,000 customers in six states and Washington, D.C.
It is also one of the largest wholesale suppliers in the United States that specializes in providing customized power supply products tailored to different needs of clients' electric systems.
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