Reports related to this article:
Project(s): View 11 related projects in PECWeb
Plant(s): View 8 related plants in PECWeb
en
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.
Click on the image at right for a graph detailing AEP's active projects across the U.S., by project type.
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.
Texas accounts for more AEP investment in T&D projects than any other U.S. state, driven by sharp industrial growth along the Gulf Coast and in the state's prosperous shale plays. AEP's Corpus Christi North Shore Transmission Improvement Project is designed to support load growth in the southernmost tip of the Lone Star State through the addition of three transmission lines, accompanied by a series of substation additions and upgrades. The new lines include a 19-mile stretch from Gregory to Sinton; a 17-mile stretch from Refugio to Sinton; and a 3.2-mile stretch from Gregory to Ingleside.
To accommodate these additions, AEP is preparing to begin construction on the Naismith Substation in Gregory, the Angstrom Substation in Sinton and the Grissom Substation in Refugio, and is preparing for upgrades to the Resnik Substation in Ingleside. Subscribers to Industrial Info's Global Market Intelligence (GMI) Power Project Database can read detailed reports on the Gregory-to-Sinton, Refugio-to-Sinton, and Gregory-to-Ingleside lines, and the Naismith, Angstrom, Grissom and Resnik substations.
Farther north along the border with Mexico, AEP expects to finish construction toward the end of the year on its 42-mile Brackettville-to-Escondido line, which will increase the reliability of electric service in the surrounding areas. The project has been under construction since early 2023, about two years after it received its permit from the Public Utility Commission of Texas. Subscribers can learn more from a detailed project report.
Ohio follows Texas in AEP's T&D investments, with the 30-mile upgrade of a line from Hillsboro to Lucasville nearing completion and the proposed 88-mile rebuild of a line from Wheelersburg to South Point under review. Both projects are intended to address outdated components and potential overload issues. Subscribers can read detailed reports on the Hillsboro-to-Lucasville line, which began construction in September 2022, and the Wheelersburg-to-South Point line, for which the company continues to seek permits.
Earlier this summer, the Louisiana Public Service Commission approved plans from AEP subsidiary Southwestern Electric Power Company to develop the 200-megawatt (MW) Mooringsport Solar Farm in Shreveport, Louisiana. The project is part of AEP's ongoing shift toward renewable energy, with plans to spend about $8.6 billion on renewable projects through 2027. AEP aims to reduce its carbon emissions 80% from 2005 levels by 2030. Subscribers can learn more from a detailed project report.
"We've made significant progress on our five-year, $8.6 billion regulated renewables investment plan, with $6 billion in approved projects and $800 million currently pending commission approval," said Julie Sloat, the chief executive officer of AEP, in a quarterly earnings-related press release. "These projects provide fuel savings for our customers and are aligned with our integrated resource plans."
Subscribers to Industrial Info's GMI Project Database can click here for a full list of detailed reports for projects mentioned in this article, and click here for a full list of related plant profiles.
Subscribers can click here for a full list of reports for active and planned projects from AEP.
Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) platform helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking more than 200,000 current and future projects worth $17.8 trillion (USD).
Click on the image at right for a graph detailing AEP's active projects across the U.S., by project type.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.
Texas accounts for more AEP investment in T&D projects than any other U.S. state, driven by sharp industrial growth along the Gulf Coast and in the state's prosperous shale plays. AEP's Corpus Christi North Shore Transmission Improvement Project is designed to support load growth in the southernmost tip of the Lone Star State through the addition of three transmission lines, accompanied by a series of substation additions and upgrades. The new lines include a 19-mile stretch from Gregory to Sinton; a 17-mile stretch from Refugio to Sinton; and a 3.2-mile stretch from Gregory to Ingleside.
To accommodate these additions, AEP is preparing to begin construction on the Naismith Substation in Gregory, the Angstrom Substation in Sinton and the Grissom Substation in Refugio, and is preparing for upgrades to the Resnik Substation in Ingleside. Subscribers to Industrial Info's Global Market Intelligence (GMI) Power Project Database can read detailed reports on the Gregory-to-Sinton, Refugio-to-Sinton, and Gregory-to-Ingleside lines, and the Naismith, Angstrom, Grissom and Resnik substations.
Farther north along the border with Mexico, AEP expects to finish construction toward the end of the year on its 42-mile Brackettville-to-Escondido line, which will increase the reliability of electric service in the surrounding areas. The project has been under construction since early 2023, about two years after it received its permit from the Public Utility Commission of Texas. Subscribers can learn more from a detailed project report.
Ohio follows Texas in AEP's T&D investments, with the 30-mile upgrade of a line from Hillsboro to Lucasville nearing completion and the proposed 88-mile rebuild of a line from Wheelersburg to South Point under review. Both projects are intended to address outdated components and potential overload issues. Subscribers can read detailed reports on the Hillsboro-to-Lucasville line, which began construction in September 2022, and the Wheelersburg-to-South Point line, for which the company continues to seek permits.
Earlier this summer, the Louisiana Public Service Commission approved plans from AEP subsidiary Southwestern Electric Power Company to develop the 200-megawatt (MW) Mooringsport Solar Farm in Shreveport, Louisiana. The project is part of AEP's ongoing shift toward renewable energy, with plans to spend about $8.6 billion on renewable projects through 2027. AEP aims to reduce its carbon emissions 80% from 2005 levels by 2030. Subscribers can learn more from a detailed project report.
"We've made significant progress on our five-year, $8.6 billion regulated renewables investment plan, with $6 billion in approved projects and $800 million currently pending commission approval," said Julie Sloat, the chief executive officer of AEP, in a quarterly earnings-related press release. "These projects provide fuel savings for our customers and are aligned with our integrated resource plans."
Subscribers to Industrial Info's GMI Project Database can click here for a full list of detailed reports for projects mentioned in this article, and click here for a full list of related plant profiles.
Subscribers can click here for a full list of reports for active and planned projects from AEP.
Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) platform helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking more than 200,000 current and future projects worth $17.8 trillion (USD).
