Welcome to our dedicated page for Americn Electric news (Ticker: AEP), a resource for investors and traders seeking the latest updates and insights on Americn Electric stock.
American Electric Power (AEP) provides essential energy services to 5 million+ customers across 11 states through one of America's largest transmission networks. This dedicated news hub offers investors and stakeholders direct access to AEP's official communications, including earnings releases, regulatory updates, and infrastructure developments.
Our curated collection features quarterly financial results, grid modernization initiatives, and clean energy transition plans, all sourced directly from company filings and press materials. Users gain timely insights into operational milestones, rate case resolutions, and strategic investments shaping the future of this electric utility leader.
Bookmark this page for verified updates on AEP's generation portfolio diversification, transmission system expansions, and compliance with evolving energy regulations. Stay informed through primary-source documents that matter for understanding this critical infrastructure provider's market position.
AEP Ohio, part of American Electric Power, has received approval from the Public Utilities Commission of Ohio (PUCO) for new electric distribution base rates. The changes will result in a monthly decrease of $0.71 for residential customers using 1,000 kilowatt-hours, though the monthly customer charge will rise to $10. AEP Ohio plans to invest in service reliability and resiliency programs, including LED streetlight upgrades and a new EV charging program. The rate changes take effect in 14 days and mark the first update since 2011.
Indiana Michigan Power (I&M), a subsidiary of American Electric Power (AEP), has submitted a rate settlement agreement with the Indiana Utility Regulatory Commission to reduce base rates for residential customers by about 5%. The reduction includes a 1% decrease in May 2022 and a more significant cut in January 2023. I&M plans to invest over $350 million in enhancing reliability by upgrading infrastructure, including replacing power lines and installing smart meters. This settlement aims to transition to renewable energy while maintaining reliable service, pending approval from the IURC.
Public Service Company of Oklahoma (PSO), a subsidiary of American Electric Power (AEP), has initiated Requests for Proposals (RFP) for renewable energy resources totaling up to 4,150 megawatts (MW). This includes up to 2,800 MW of wind and 1,350 MW of solar energy, with minimum bid requirements of 100 MW for wind and 50 MW for solar. The proposals are due by January 13, 2022, and must connect to the Southwest Power Pool. PSO serves over 562,000 customers and has a significant focus on expanding renewable generation, targeting 50% of total capacity by 2030.
American Electric Power (AEP) announced plans to invest $38 billion from 2022 to 2026, focusing on transmission, distribution, and renewable energy. AEP's 2022 operating earnings guidance ranges from $4.85 to $5.05 per share, reflecting a growth rate of 5% to 7%. The company aims to enhance its renewable generation capacity to almost 50% by 2030. AEP recently sold its Kentucky operations for $2.846 billion to further its clean energy initiatives. AEP has consistently raised dividends, marking its 446th consecutive quarterly cash dividend.
Southwestern Electric Power Company, a subsidiary of American Electric Power (Nasdaq: AEP), will redeem $275 million of its 3.55% Senior Notes, Series I, on December 3, 2021. The redemption will occur at par value, plus accrued interest, in accordance with the indenture terms. Notices for the redemption were sent out on November 3, 2021. This strategic move reflects the company's proactive management of its debt obligations.
American Electric Power (AEP) reported third-quarter 2021 earnings of $796 million, or $1.59 per share, compared to $749 million, or $1.51 per share, in Q3 2020. Revenue increased by $0.5 billion year-over-year to $4.6 billion, while year-to-date revenue rose to $12.7 billion, up $1.4 billion from 2020. Despite the growth, operating earnings saw a slight decline from $728 million in Q3 2020 to $717 million in Q3 2021. AEP has narrowed its 2021 operating earnings guidance to $4.65 to $4.75 per share, reflecting a solid performance and robust economic recovery. A quarterly dividend increase of 4 cents was also announced.
American Electric Power (Nasdaq: AEP) has agreed to sell its Kentucky operations, which include Kentucky Power and AEP Kentucky Transco, to Liberty, a subsidiary of Algonquin Power & Utilities Corp. (NYSE: AQN), for an enterprise value of $2.846 billion. The deal is expected to close in Q2 2022, pending regulatory approvals. AEP anticipates net cash proceeds of approximately $1.45 billion after taxes and fees, which will reduce equity needs for 2022. The sale is estimated to add $0.01-$0.02 to ongoing earnings in 2022.
American Electric Power (AEP) has announced a quarterly earnings conference call scheduled for 9 a.m. ET on October 28, 2021. This live webcast will include audio and visuals, available at aep.com/webcasts. AEP boasts a robust infrastructure, operating the largest electricity transmission system in the U.S., serving 5.5 million customers across 11 states. The company aims for a 50% renewable generation portfolio by 2030 and an 80% reduction in carbon emissions from 2000 levels, targeting net-zero by 2050.
The Board of Directors of American Electric Power Co. (AEP) has declared a quarterly cash dividend of 78 cents per share, marking an increase of 4 cents. This rise reflects AEP's commitment to a 5% to 7% operating earnings growth range. The dividend will be paid on Dec. 10, 2021, to shareholders of record as of Nov. 10, 2021, representing the 446th consecutive quarterly dividend. AEP aims for a substantial increase in its renewable energy portfolio, targeting 50% of its capacity by 2030.
AEP Energy Partners, a subsidiary of American Electric Power (AEP), is soliciting proposals for renewable energy projects including solar, wind, and battery energy storage in the PJM service region. They are looking for purchase agreements lasting 10, 12, or 15 years for projects commencing between 2022 and 2024. Interested parties must submit a notice of intent by October 13, 2021, with final proposals due by October 27, 2021. AEP Energy aims to bolster its retail and wholesale load, continuing its commitment to a cleaner energy future.
