COLUMBUS, Ohio, Feb. 19, 2015 – American Electric Power (NYSE: AEP) has been named to Fortune magazine’s 2015 World’s Most Admired Companies list in the electric and gas utilities sector. This was AEP’s second year participating in the survey, which measures nine attributes related to financial performance and corporate reputation.
“This honor recognizes our commitment to providing safe, reliable and affordable electricity to our customers, rewarding our shareholders, and fostering a culture that enables each of our talented employees to thrive,” said Nicholas K. Akins, chairman, president and chief executive officer. “We’re focused on continuing AEP’s legacy of operational excellence and innovation while transforming our business in ways that ensure we will be well-positioned to serve our customers’ energy needs for the next century.”
Each year, Fortune surveys top executives, directors and financial analysts about the companies in their industry based upon nine criteria: financial soundness, ability to attract and retain talented people, quality of management, long-term investment value, quality of products or services, innovativeness, wise use of corporate assets, social responsibility to the community and environment, and global competitiveness. A total of 668 companies from 29 countries were surveyed to arrive at this year’s list.
American Electric Power is one of the largest electric utilities in the United States, delivering electricity to more than 5.3 million customers in 11 states. AEP ranks among the nation’s largest generators of electricity, owning nearly 38,000 megawatts of generating capacity in the U.S. AEP also owns the nation’s largest electricity transmission system, a 40,000-mile network that includes more 765 kilovolt extra-high voltage transmission lines than all other U.S. transmission systems combined. AEP’s transmission system directly or indirectly serves about 10 percent of the electricity demand in the Eastern Interconnection, the interconnected transmission system that covers 38 eastern and central U.S. states and eastern Canada, and approximately 11 percent of the electricity demand in ERCOT, the transmission system that covers much of Texas. AEP’s utility units operate as 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 and east Texas). AEP’s headquarters are in Columbus, Ohio.