Company Overview

American Electric Power Company, Inc. (AEP) is a large, investor-owned electric utility engaged primarily in the generation, transmission, and distribution of electricity. The company operates within the regulated electric utilities industry and serves residential, commercial, and industrial customers. AEP’s core business is providing reliable electric service across a multi-state service territory, with revenues predominantly derived from regulated utility operations approved by state and federal regulators.

Founded in 1906 as American Gas and Electric Company, AEP evolved through mergers and expansions into one of the largest electric utilities in the United States. The company is notable for owning and operating one of the nation’s largest electricity transmission systems, which provides a strategic advantage in grid reliability and regional power delivery. Over time, AEP has shifted its generation portfolio toward a lower-carbon mix while maintaining a strong focus on regulated assets to support stable, predictable earnings.

Business Operations

AEP conducts operations primarily through its regulated utility subsidiaries, with business activities organized around Vertically Integrated Utilities, Transmission and Distribution Utilities, and Generation Resources. The company generates revenue mainly through state-regulated electric rates, transmission tariffs regulated at the federal level, and long-term power supply arrangements. AEP owns significant regulated transmission assets that form a substantial portion of its earnings base.

Operations are primarily domestic, with assets concentrated in the United States. AEP controls a diversified mix of generation assets, including natural gas, coal, nuclear (through ownership interests), renewables such as wind and solar, and hydroelectric facilities. The company operates through multiple regulated subsidiaries, including Appalachian Power, Indiana Michigan Power, Public Service Company of Oklahoma, Southwestern Electric Power Company, and Ohio Power Company, each serving distinct state or regional markets.

Strategic Position & Investments

AEP’s strategy emphasizes regulated growth, grid modernization, and capital investment in transmission and distribution infrastructure. The company has pursued long-term capital investment plans focused on improving grid resilience, expanding high-voltage transmission, and supporting the integration of renewable energy resources. These initiatives are designed to align with evolving regulatory frameworks and increasing electricity demand from data centers, industrial electrification, and economic development.

The company has made targeted investments and portfolio adjustments to reduce exposure to unregulated generation while increasing its regulated transmission footprint. AEP has also invested in renewable energy projects, both directly and through power purchase agreements, and has exited or restructured certain merchant generation assets as part of its long-term strategic realignment toward lower risk, regulated businesses.

Geographic Footprint

AEP’s headquarters are located in Columbus, Ohio, and the company operates across the Midwest, South, and Appalachian regions of the United States. Its regulated utilities serve customers in more than ten states, including Ohio, Indiana, Michigan, West Virginia, Kentucky, Virginia, Tennessee, Arkansas, Louisiana, Oklahoma, and Texas.

The company’s transmission network spans multiple regional transmission organizations, giving AEP a broad operational influence across central and eastern United States power markets. While AEP does not have significant international utility operations, its scale and transmission assets make it a key participant in U.S. energy infrastructure and interstate electricity markets.

Leadership & Governance

AEP is governed by a board of directors and managed by an executive leadership team focused on safety, regulatory engagement, financial discipline, and long-term infrastructure investment. The company’s leadership emphasizes operational excellence, grid reliability, and a balanced approach to energy transition that aligns with regulatory and customer requirements.

Key executives include:

• Julie A. Sloat – President and Chief Executive Officer
• Aaron A. Reid – Executive Vice President and Chief Financial Officer
• Nicholas K. Akins – Executive Chair
• Lisa M. Barton – Executive Vice President and Chief Operating Officer
• Sandra J. (Sandy) McDonald – Executive Vice President and Chief Human Resources Officer

The leadership team’s strategic vision centers on strengthening regulated operations, maintaining financial stability, and positioning AEP to meet long-term electricity demand through disciplined capital investment and regulatory collaboration.