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December 14, 2020
AEP Releases Corporate Accountability Year-end Update
COLUMBUS, Ohio, December 14, 2020 – American Electric Power (Nasdaq: AEP) has issued its Corporate Accountability Report Year-End Update, which highlights significant developments in the company’s environmental, social and corporate governance (ESG) efforts since releasing its 2020 Corporate Accountability Report in May.
The update details the company’s response to the COVID-19 pandemic, including its outreach to customers and communities and its proactive focus on the safety of employees, and explains AEP’s efforts to foster diversity, equity and inclusion in the workplace.
The company made progress in its clean energy transition, receiving regulatory approvals to move forward with the 1,485-megawatt North Central Wind projects to serve customers in Louisiana, Oklahoma and Texas. AEP also announced its plan to retire an additional 1,633 megawatts (MW) of coal-fueled generation by 2028. In addition, AEP is reducing its carbon footprint by accelerating electric vehicle (EV) purchases and will replace its entire fleet of cars and light-duty trucks with EV alternatives within the next decade.
AEP was awarded numerous recognitions for its commitment to excellence in ESG, including the North American Pollinator Protection Campaign’s 2020 Pollinator Electric Power Award, the 2020 CR Reporting Award second runner-up for the Best ESG Report, and inclusion on the Forbes JUST 100 2021 and Newsweek’s Most Responsible Companies lists.
“We have started new initiatives and reached some major milestones since our Corporate Accountability Report was published in May 2020,” said Nicholas K. Akins, AEP chairman, president and chief executive officer, in the report’s introduction. “Our commitment to our customers, communities and to each other underpins our mission to redefine the future of energy and develop innovative solutions that power communities and improve lives. As we reflect on what we’ve achieved and where we still need to go, our employees will lead the way forward to a new and brighter future for our customers and communities.”
American Electric Power, based in Columbus, Ohio, is focused on building a smarter energy infrastructure and delivering new technologies and custom energy solutions to our customers. AEP’s approximately 17,000 employees operate and maintain the nation’s largest electricity transmission system and more than 221,000 miles of distribution lines to efficiently deliver safe, reliable power to nearly 5.5 million regulated customers in 11 states. AEP also is one of the nation’s largest electricity producers with approximately 30,000 megawatts of diverse generating capacity, including more than 5,300 megawatts of renewable energy. AEP’s family of companies includes utilities AEP Ohio, AEP Texas, Appalachian Power (in Virginia and West Virginia), AEP Appalachian Power (in Tennessee), Indiana Michigan Power, Kentucky Power, Public Service Company of Oklahoma, and Southwestern Electric Power Company (in Arkansas, Louisiana, east Texas and the Texas Panhandle). AEP also owns AEP Energy, AEP Energy Partners, AEP OnSite Partners, and AEP Renewables, which provide innovative competitive energy solutions nationwide. For more information, visit aep.com.