January 10, 2023
AEP Named One of America's Most Just Companies for Third Consecutive Year, Ranked First in Utilities Category
COLUMBUS, Ohio, Jan. 10, 2023 – American Electric Power (Nasdaq: AEP) has been named to the JUST 100 2023 list, which recognizes America’s best corporate citizens, and received the top ranking in the utilities category.
The JUST 100 identifies companies that set the standard in commitment to their stakeholders. JUST Capital, in partnership with CNBC, assessed 951 of the nation’s largest publicly traded companies across 20 stakeholder-focused issues identified through public opinion research. Companies were evaluated on their performance in job creation; diversity, equity and inclusion; worker health and safety; environmental sustainability and other metrics.
“Whether it’s reducing our carbon footprint, building an engaged, inclusive workforce or enabling economic development opportunities, AEP is focused on delivering energy solutions that empower our customers and communities,” said Julie Sloat, president and chief executive officer of AEP. “We’re proud to be recognized as an industry leader for corporate accountability practices and remain committed to innovating as we work to meet the changing expectations of our customers, communities and investors.”
Learn more about AEP’s corporate accountability strategy.
American Electric Power, based in Columbus, Ohio, is powering a cleaner, brighter energy future for its customers and communities. AEP’s approximately 16,700 employees operate and maintain the nation’s largest electricity transmission system and more than 224,000 miles of distribution lines to safely deliver reliable and affordable power to 5.5 million regulated customers in 11 states. AEP also is one of the nation’s largest electricity producers with approximately 31,000 megawatts of diverse generating capacity, including more than 7,100 megawatts of renewable energy. The company’s plans include growing its renewable generation portfolio to approximately 50% of total capacity by 2032. AEP is on track to reach an 80% reduction in carbon dioxide emissions from 2005 levels by 2030 and has committed to achieving net zero by 2045. AEP is recognized consistently for its focus on sustainability, community engagement, and diversity, equity and inclusion. 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, which provides innovative competitive energy solutions nationwide. For more information, visit aep.com.
Other News Releases
February 27, 2024
AEP Completes Sale of New Mexico Solar Assets
American Electric Power has completed the sale of its 50% interest in New Mexico Renewable Development, LLC (NMRD) to Exus North America Holdings, LLC (Exus). AEP nets approximately $104 million in cash after tax, transaction fees and other customary adjustments.
February 26, 2024
AEP Reports 2023 Earnings Results
- Year-end 2023 GAAP earnings of $4.26 per share; operating earnings of $5.25 per share
- 2024 operating earnings (non-GAAP) guidance range reaffirmed at $5.53 to $5.73 per share with long-term growth rate of 6% to 7% and FFO/Debt target of 14% to 15%
- Company advances strategic initiatives including de-risking the business, controlling costs and investing in a modern and reliable grid to benefit customers