October 31, 2022
AEP Recognized As a Best ESG Company by Investor's Business Daily
American Electric Power (Nasdaq: AEP) has been named one of the Best ESG Companies by Investor’s Business Daily. The list recognizes publicly traded companies that combine high Dow Jones sustainability scores with strong financial performance.
IBD evaluated 1,693 companies based on their Dow Jones Newswire environmental, social and governance (ESG) sustainability scores and selected the top 15%, then narrowed the list to 100 companies with the highest IBD Composite Rating. The 100 companies then were ranked by Dow Jones' ESG score.
“Our strategic vision for a cleaner, brighter energy future focuses on advancing environmental, social and economic change, while also maintaining a strong balance sheet and our reputation of operational excellence,” said Nicholas K. Akins, AEP chair and chief executive officer. “We’re pleased to receive this recognition, which is a reflection of our continued efforts to deliver value to our customers, communities and shareholders.”
AEP is recognized regularly for its commitment to corporate responsibility and sustainability and has been named one of America’s Most Just Companies by JUST Capital and one of America’s Most Responsible Companies by Newsweek.
Learn more about AEP’s ESG initiatives.
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 2030. 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