American Electric Power (AEP) is one of the largest electric utility companies in the United States. The company has a rich history dating back to 1906 when it was founded as American Gas and Electric Company. In 1958, the company changed its name to American Electric Power Company, Inc., which is the name it still goes by today. AEP is listed on the New York Stock Exchange (NYSE) under the ticker symbol "AEP." It is also a component of the S&P 500 index, a benchmark for the overall performance of the U.S. stock market.
AEP is headquartered in Columbus, Ohio, and operates in 11 states, serving more than five million customers. The company's primary business is the generation, transmission, and distribution of electricity. AEP owns and operates a diverse portfolio of power plants, including coal, natural gas, nuclear, and renewable energy sources. The company's power transmission network covers thousands of miles, allowing it to efficiently deliver electricity to its customers.
Over the years, AEP has been recognized for its commitment to providing reliable and affordable energy to its customers. The company has made significant investments in upgrading and modernizing its power generation and transmission infrastructure to meet the growing energy demands and to enhance grid reliability.
AEP has also been actively involved in the expansion of renewable energy sources, including wind and solar power. The company has set ambitious goals to reduce its carbon emissions and transition towards cleaner energy options in alignment with changing market trends and increasing environmental concerns.
AEP continues to play a crucial role in the nation's energy landscape and remains committed to delivering reliable and sustainable electricity to its customers while exploring innovative solutions to address the challenges posed by climate change and the transition to a greener future.