AEP Stock Predictions: What to Expect from American Electric Power Company

AEP Stock Predictions: What to Expect from American Electric Power Company

Summary

American Electric Power is a large investor-owned American electric utility with generation, transmission and distribution operations and eight utility subsidiaries. The Company’s vertically integrated utilities and distribution utilities provide electricity to more than 5.6 million customers in 11 states in the Midwest and Southeast. AEP ranks among the nation’s largest electricity producers, with approximately 29,000 megawatts of generating capacity and 225,000 distribution lines. AEP also has the largest electric transmission network in the country, with 40,000 network miles. In 2023, utility verticals accounted for approximately 60% of total annual revenue, while transmission and distribution utilities accounted for approximately 30%. With the 2H23 sale of its competitive generating plant, Cardinal 1, in Ohio, the Company exited the wholesale generation business and exited the competitive Ohio electricity market. AEP’s production mix for 2023 is composed of approximately 37% coal, 22% nuclear, 22% natural gas and 19% renewable energy. Although it still relies heavily on coal, the company is expanding its use of renewable energy by investing in wind generation. Its current renewable energy production capacity is 6,100 MW and it plans to achieve zero carbon by 2050. The company’s market capitalization is $43.6 billion.

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