November 10, 2008
AEP Recognized As Military-Friendly Employer For Sixth Consecutive Year
G.I. Jobs helps provide training and career opportunities for veterans and those in transition from military to civilian employment.
This year’s honorees were selected from among approximately 2,500 corporations with annual revenues of at least $1 billion. The December 2008 edition of G.I. Jobs, which features the list of military-friendly employers, can be accessed at http://www.GIJobs.net. Four electric utility companies in addition to AEP are on the list.
“We’re very gratified to be recognized by G.I. Jobs once again,” said Michael G. Morris, AEP chairman, president and chief executive officer. “Military veterans tend to have the technical skills we need and the characteristics we value, including leadership qualities, adaptability and a belief in the importance of teamwork.”
The honored companies were selected based on their assets dedicated to military hiring, the strength of their military recruiting efforts and their policies addressing National Guard and reserve service, among other criteria.
Approximately 2,300 of AEP’s roughly 21,500 employees have served in the military.
AEP enhanced its military leave policy in 2004, extending pay differential and benefits for up to two years for reservists and National Guard members who are called to active duty in emergency situations.
American Electric Power is one of the largest electric utilities in the United States, delivering electricity to more than 5 million customers in 11 states. AEP ranks among the nation’s largest generators of electricity, owning more than 38,000 megawatts of generating capacity in the U.S. AEP also owns the nation’s largest electricity transmission system, a nearly 39,000-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.
David Hagelin
Corporate Media Relations
614/716-1938
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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