AMERICAN ELECTRIC POWER SERVICE CORPORATION SEEKS BIDS FOR COAL

Rhea-AI Summary

American Electric Power (AEP) announced a request for proposal (RFP) for coal supply to its generating stations across multiple regions, including the Central Appalachian, Illinois, Powder River, and Northern Appalachian Basins. Proposals are requested for the balance of 2022 through 2025, and submissions must be received by 5 p.m. ET on September 28, 2022. The proposals will remain open until 5 p.m. ET on November 4, 2022. This initiative aligns with AEP's plans to enhance its energy portfolio, which includes a commitment to 50% renewable energy by 2030 and an 80% reduction in carbon emissions by 2030.

Positive

• AEP's commitment to 50% renewable energy by 2030 highlights its strategic shift toward sustainability.
• The RFP represents ongoing operational needs, indicating stable demand for coal supply.

Negative

• None.

COLUMBUS, Ohio, Sept. 12, 2022 /PRNewswire/ -- American Electric Power (Nasdaq: AEP) today issued a request for proposal (RFP) for the supply of coal to one or more of its generating stations in multiple coal regions. AEP seeks proposals for the following regions and terms:

Coal Region	Term
Central Appalachian Basin	Bal 2022, 2023, 2024, 2025
Illinois Basin	Bal 2022, 2023, 2024, 2025
Powder River Basin	Bal 2022, 2023, 2024, 2025
Northern Appalachian Basin	Bal 2022, 2023, 2024, 2025

All coal proposal packages should include the provided coal proposal form included in the RFP. This information must be received no later than 5 p.m. ET, Wednesday, Sept. 28, 2022. Proposals are to be kept open until 5 p.m. ET, Friday, Nov. 4, 2022. All information must be emailed to aepfuelsrfp@aep.com. Complete details about the RFP are available at www.aep.com/go/coaloffers.

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 2000 levels by 2030 and has committed to achieving net zero by 2050. 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.

 

View original content to download multimedia:https://www.prnewswire.com/news-releases/american-electric-power-service-corporation-seeks-bids-for-coal-301622334.html

SOURCE American Electric Power

FAQ

What regions does AEP seek coal supply for?

AEP is seeking coal supply for the Central Appalachian, Illinois, Powder River, and Northern Appalachian Basins.

What is the deadline for submitting proposals to AEP?

Proposals must be submitted by 5 p.m. ET on September 28, 2022.

When will the proposals remain open until?

Proposals will remain open until 5 p.m. ET on November 4, 2022.

What are AEP's carbon reduction goals?

AEP aims for an 80% reduction in carbon dioxide emissions from 2000 levels by 2030 and has committed to achieving net zero emissions by 2050.