AMERICAN ELECTRIC POWER SERVICE CORPORATION SEEKS BIDS FOR COAL

Rhea-AI Summary

American Electric Power (AEP) has issued a request for proposal (RFP) for coal supply to its generating stations across various coal regions. The proposal is for coal supplies in the Central Appalachian, Illinois, Powder River, and Northern Appalachian Basins for the years 2022 through 2025. Proposals must be submitted by 5 p.m. ET on April 22, 2022, and will remain open until May 27, 2022. AEP continues to focus on sustainability, aiming for a 50% renewable generation portfolio by 2030 and an 80% reduction in carbon emissions from 2000 levels. Further details can be found at their website.

Positive

• AEP seeks coal proposals for multiple basins, ensuring a steady supply for operations.
• AEP is focused on sustainability, targeting a 50% renewable energy portfolio by 2030.
• The company aims for an 80% reduction in carbon emissions, indicating a commitment to environmental goals.

Negative

• None.

COLUMBUS, Ohio, April 5, 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, Friday, April 22, 2022. Proposals are to be kept open until 5 p.m. ET, Friday, May 27, 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.

 

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SOURCE American Electric Power

FAQ

What is the purpose of AEP's recent RFP for coal?

AEP's RFP aims to secure a stable coal supply for its generating stations from 2022 to 2025.

What are the deadlines for AEP's coal proposal submissions?

Proposals must be submitted by 5 p.m. ET on April 22, 2022, and will remain open until May 27, 2022.

Which coal regions are included in AEP's RFP?

The RFP includes the Central Appalachian, Illinois, Powder River, and Northern Appalachian Basins.

How does AEP plan to reduce its carbon emissions?

AEP aims for an 80% reduction in carbon emissions from 2000 levels by 2030.

What percentage of AEP's generation capacity will be renewable by 2030?

AEP plans for approximately 50% of its total generation capacity to be renewable by 2030.