AEP Ramps Up T&D Projects in High-Growth Areas, Adds Renewables

November 3, 2023--Researched by Industrial Info Resources (Sugar Land, Texas)--American Electric Power Company Incorporated (NASDAQ:AEP) (AEP) (Columbus, Ohio) grew its customer base and saw stronger earnings in third-quarter 2023 when compared with the same period last year, despite substantially higher costs spurred by rising interest rates. It was a tricky balancing act, but AEP managed to add customers while increasing electricity rates in a way that did not prove too burdensome to users.

Industrial Info is tracking nearly $10 billion worth of active and planned projects from AEP, about two-thirds of which is attributed to transmission and distribution (T&D) projects. In the near term, AEP is focused on improving its T&D assets in areas where demand is growing most rapidly. The company also hopes to add renewable assets while reducing its exposure to riskier investments.