COLUMBUS, Ohio, May 25, 2017 – American Electric Power (NYSE: AEP) issued its 2017 Corporate Accountability Report today, the 11th annual assessment of AEP’s stewardship as a public company and a community partner. It is accessible online at www.aepsustainability.com.
The report explores AEP’s business strategy, governance, financial performance, corporate culture and social responsibilities in 2016. AEP made a positive economic, environmental and social impact on the communities it serves, while delivering positive financial returns to shareholders.
“Our basic responsibility is keeping the lights on,” said Nicholas K. Akins, AEP chairman, president and chief executive officer in the report’s introduction. “But we strive to go beyond the basics to support strong and vibrant communities, advocate for education and opportunity, help the less fortunate, care for our employees, exceed our customers’ expectations and protect the environment.”
The report details the progress on the company’s strategic plans to become the nation’s premier regulated energy company, including its efforts to provide the new energy solutions and technologies customers want and to transform the grid to provide cleaner, safer, more reliable and affordable power to communities. Here are some highlights:
- AEP has achieved a 44 percent reduction in carbon dioxide emissions since 2000.
- AEP is making its generation resource mix more diverse with $1.5 billion in investments planned in renewables from 2017 through 2019. The company also is investing $13 billion in its transmission and distribution systems to make the grid smarter, more efficient, more resilient and more responsive to new resources and technologies.
- AEP is piloting new customer engagement technology that enables round-the-clock monitoring and management of energy usage, including automated dimming of lights and thermostat adjustments during peak hours for participating customers.
- An AEP Transmission project in Texas won the 2016 Edison Award from the Edison Electric Institute, the industry group’s highest honor. The project was the longest live-line re-conductoring project in North America – a pair of 120-mile, 345-kilovolt transmission lines that stretch from Corpus Christi to the Lower Rio Grande Valley.
For more details about the company’s strategic goals and its progress, the full report is available online at www.aepsustainabilty.com.
American Electric Power is one of the largest electric utilities in the United States, delivering electricity and custom energy solutions to nearly 5.4 million customers in 11 states. AEP owns the nation’s largest electricity transmission system, a more than 40,000-mile network that includes more 765-kilovolt extra-high voltage transmission lines than all other U.S. transmission systems combined. AEP also operates 224,000 miles of distribution lines. AEP ranks among the nation’s largest generators of electricity, owning approximately 26,000 megawatts of generating capacity in the U.S. AEP supplies 3,200 megawatts of renewable energy to customers. 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.