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March 29, 2023

AEP Recognized for Employee Engagement Efforts, Receives Gallup's Exceptional Workplace Award

COLUMBUS, Ohio, March 29, 2023 - American Electric Power (Nasdaq: AEP) has received the 2023 Gallup Exceptional Workplace Award, which recognizes organizations that incorporate employee engagement into core business values. This is the fourth consecutive year AEP has been honored with the award.

Organizations that administered Gallup’s Q12 employee engagement survey, achieved a participation rate of 80% or higher and received a GrandMean above a certain threshold were invited to apply for the award. A panel evaluated applicants and assessed them against criteria established by Gallup’s employee engagement and performance data study. Applicants were compared to Gallup’s extensive database of the world’s most productive and profitable companies, and only organizations in the top tier of the database qualified to win. AEP was one of 57 companies selected to receive the award.

Gallup’s research indicated the engagement level among Exceptional Workplace award winners is 72%. On average, award winners have 18 engaged employees for every one actively disengaged employee, which is 10 times the rate in the U.S. and 16 times the global average.

  “A key part of our strategy to drive growth is to create a high-performance work culture where all employees feel valued,” said Julie Sloat, AEP president and chief executive officer. “Our ability to execute and deliver for our customers and communities relies upon attracting and retaining top talent. We’re proud to be recognized as an exceptional workplace and will continue to invest in building an engaged workforce focused on safety, collaboration and innovation.”

Learn more about AEP’s efforts to create the workforce of the future.

American Electric Power, based in Columbus, Ohio, is powering a cleaner, brighter energy future for its customers and communities. AEP’s approximately 17,000 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 5.6 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 6,900 megawatts of renewable energy. The company’s plans include growing its renewable generation portfolio to approximately 50% of total capacity by 2032. 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.

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May 13, 2024

AEP Signs Agreement to Sell Distributed Resources Business to Basalt

American Electric Power has entered into an agreement to sell its distributed resources business, AEP OnSite Partners (“OnSite”), to funds advised by Basalt Infrastructure Partners LLC. AEP expects to net approximately $315 million in cash after taxes and transaction fees, subject to customary closing adjustments. The sale is expected to close in the third quarter of 2024, pending regulatory approvals.

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