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January 22, 2019

AEP Named One of Fortune's World's Most Admired Companies for Sixth Consecutive Year

COLUMBUS, Ohio, Jan. 22, 2019 - American Electric Power (NYSE: AEP) has been named to Fortune magazine’s World’s Most Admired Companies list in the electric and gas utilities sector for the sixth year in a row. The survey measures nine attributes related to financial performance and corporate reputation.

 “For more than a century, AEP has proudly powered millions of homes and businesses,” said Nicholas K. Akins, AEP’s chairman, president and chief executive officer. “Our pursuit of operational excellence and wise use of corporate assets continue to benefit both our customers and our shareholders. We look forward to building upon our successes as we work to deliver the smarter, cleaner energy system our customers want, while also empowering positive social and economic change in the communities we serve.”

Each year, Fortune surveys top executives, directors and financial analysts about the companies in their industry based upon nine criteria: financial soundness, use of corporate assets, long-term investment value, quality of management, quality of products and services, people management, innovation, social responsibility, and global competitiveness. A total of 680 companies from 30 countries were surveyed for inclusion on this year’s list.

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 more than 18,000 employees operate and maintain the nation’s largest electricity transmission system and more than 219,000 miles of distribution lines to efficiently deliver safe, reliable power to nearly 5.4 million regulated customers in 11 states. AEP also is one of the nation’s largest electricity producers with approximately 32,000 megawatts of diverse generating capacity, including more than 4,300 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.

MEDIA CONTACT:                                                  

Sarah Devine

Corporate Media Relations    

614/716-2011  

Other News Releases

October 04, 2022

AEP Shares Updates on Strategic Initiatives, Highlights Planned Capital Investments in Renewables and Energy Grid

  • 2022 operating earnings guidance narrowed to $4.97-$5.07 per share and midpoint raised to $5.02; 2023 operating earnings guidance range of $5.19 to $5.39 announced
  • Emission reduction targets accelerated, including new net zero goal by 2045 and 80% reduction in full Scope 1 emissions by 2030 from 2005 baseline
  • Strategic review of retail energy business will begin; company on track to divest unregulated renewable assets and complete Kentucky sale

American Electric Power  plans to invest in its regulated businesses, accelerate its carbon reduction targets and streamline the business to drive value for customers, communities and investors. AEP leadership will share the company’s financial plan and strategy with analysts in New York City today. The presentation will be webcast live at 1:30 p.m. ET at https://aep.com/investors/events.

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September 30, 2022

AEP and Liberty Reach Amended Agreement on Sale of Kentucky Operations

American Electric Power has signed an amended agreement on the sale of its Kentucky operations to Liberty and expects to close on the sale in January 2023 following approval of the transaction from the Federal Energy Regulatory Commission (FERC), which is due by Dec. 16. The amendment has no impact on AEP’s planned equity needs or operating earnings guidance.

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