About the Company
American Electric Power Company (also known as AEP) is a prominent investor-owned electric utility in the USA. It provides power across 11 states to over 5.5 million customers and ranks among America’s largest electricity generators with a capacity of 26,000 megawatts as of 2020.
It maintains the largest American transmission system and distribution lines of over 219,000 miles, providing safe and reliable power to the people of Arkansas, Kentucky, Michigan, Louisiana, Indiana, Tennessee, Ohio, Virginia, Oklahoma, Texas and West Virginia. In 2019, the company’s total sales reached approximately 191 million megawatts and had operating earnings of $2.095 billion.
As of 2020 AEP Inc. has seven major operating offices - AEP Ohio, Kentucky power, Appalachian Power, Public service company of Oklahoma, AEP Texas, Indiana Michigan Power, Southwestern electric power company.
Apart from these, the company also owns several other subsidiaries like the AEP River Operations. It is also the largest shareholder in the Ohio Valley Electric Corporation, an associate company of AEP but not a subsidiary as it owns less than half of it.
The company was incorporated in 1906 under the name “American Gas and Electricity Company”. Later in 1958 it was renamed American Electric Power Company Inc. and soon replaced the Electric Company of America, which existed since 1899.
In 1923, it made history by building the world’s first plant to reheat steam, thus facilitating the process of generating electricity faster, by doubling its duty. Over the span of 1922-1997 the company has made six significant acquisitions, including Indiana and Michigan Electric, American Electric Power Company, Columbus and Southern Ohio Electric Company, Appalachian Power Company, Central and South West Corporation and Indiana Service Corporation of Fort Wayne.;
|American Electric Power Co Inc