N EWS R ELEASES

American Electric Power has been named to the JUST 100 2022 list, which recognizes companies that set the standard in commitment to their stakeholders.

American Electric Power announced today that it has successfully remarketed its 3.40% Junior Subordinated Debentures due 2024 (the “Original Debentures”), which were originally issued March 19, 2019, as a component of AEP’s Equity Units.

Appalachian Power seeks to acquire or contract for 294 megawatts (MW) of solar and 204 MW of wind power over the next three years as part of its long-range plan to meet the renewable energy targets established by the Virginia Clean Economy Act (VCEA). Passed in 2020 by the General Assembly, the law requires the utility to file an annual plan with the Virginia State Corporation Commission (SCC) outlining how it will meet key mandates as it reaches 100 percent carbon-free status by 2050.

American Electric Power today completed the sale of Racine Plant, a 48-megawatt (MW) hydroelectric facility in Racine, Ohio, from AEP Generation Resources, the company’s competitive generation affiliate, to Eagle Creek Renewable Energy.

American Electric Power has been named one of America’s Most Responsible Companies by Newsweek for the second consecutive year. AEP was one of 500 companies in 14 industries included on the list, which highlights companies that are leaders in environmental, social and corporate governance (ESG) policies.

Public Service Company of Oklahoma (PSO), a subsidiary of American Electric Power, today submitted Requests for Proposals (RFP) for renewable energy resources to supply the needs of its customers. 

American Electric Power plans to invest in its regulated businesses and renewable generation as it continues to transform and build a cleaner, more modern energy system. The company announced its 2022 operating earnings (earnings excluding special items) guidance range of $4.85 to $5.05 per share, reflecting its projected annual operating earnings growth rate of 5% to 7%. AEP has met or exceeded its earnings per share guidance every year for more than a decade. AEP management will discuss the company’s strategy and financial growth plans during the annual Edison Electric Institute Financial Conference, Nov. 7-9.

Southwestern Electric Power Company, a public utility subsidiary of American Electric Power, announced that on Dec. 3, 2021, it will redeem the entire outstanding $275 million principal amount of its 3.55 percent Senior Notes, Series I, due 2022. The notes will be redeemed at 100 percent of the principal amount 

• Third-quarter 2021 GAAP earnings of $1.59 per share and $1.43 per share operating
• Company narrows 2021 operating earnings (non-GAAP) guidance range to $4.65 to $4.75 per share, raising midpoint to $4.70
• AEP reaffirms 5% to 7% long-term growth rate

American Electric Power has entered into an agreement to sell its Kentucky operations, which include Kentucky Power and AEP Kentucky Transco, to Liberty, the regulated utility business of parent company Algonquin Power & Utilities Corp., for $2.846 billion enterprise value. The sale is expected to close in the second quarter of 2022, pending regulatory approvals.