American Electric Power (NYSE: AEP) is a major investor-owner electric utility in various parts of the United States. AEP ranks among the nation's largest generators of electricity, owning nearly 38,000 megawatts of generating capacity in the U.S. AEP also owns the nation's largest electricity transmission system, a nearly 39,000-mile (63,000 km) network that includes 765 kilovolt ultra-high voltage transmission lines; more than all other U.S. transmission systems combined. AEP's transmission system directly or indirectly serves about 10 percent of the electricity demand in the Eastern Interconnection, the interconnected transmission system that covers 38 eastern and central U.S. states and eastern Canada, and approximately 11 percent of the electricity demand in ERCOT, the transmission system that covers much of Texas. AEP's utility units operate as AEP Ohio, AEP Texas, Appalachian Power (in Virginia, West Virginia, and Tennessee), Indiana Michigan Power, Kentucky Power, Public Service Company of Oklahoma, and Southwestern Electric Power Company (in Arkansas, Louisiana and east Texas). AEP's headquarters are in Columbus, Ohio.
American Electric Power was the first utility to utilize 345KV transmission lines which took place in 1953.
American Electric Power Company, Inc. (AEP), incorporated in 1906, is a holding company. The Company’s public utility subsidiaries include Appalachian Power Company (APCo), Columbus Southern Power Company (CSPCo), Indiana Michigan Power Company (I&M), Kentucky Power Company (KPCo), Kingsport Power Company (KgPCo), Ohio Power Company (OPCo), Public Service Company of Oklahoma (PSO), Southwestern Electric Power Company (SWEPCo), AEP Texas Central Company (TCC), AEP Texas North Company (TNC), Wheeling Power Company (WPCo) and AEP Generating Company (AEGCo). The service areas of AEP’s public utility subsidiaries cover portions of the states of Arkansas, Indiana, Kentucky, Louisiana, Michigan, Ohio, Oklahoma, Tennessee, Texas, Virginia and West Virginia. The generating and transmission facilities of AEP’s public utility subsidiaries are interconnected and their operations are coordinated. Transmission networks are interconnected with distribution facilities in the territories served. The subsidiaries of AEP provide electric service, consisting of generation, transmission and distribution, on an integrated basis to their retail customers.
The American Electric Power System (AEP System) is an integrated electric utility system. As a result, the member companies of the AEP System have contractual, financial and other business relationships with the other member companies, such as participation in the AEP System savings and retirement plans and tax returns, sales of electricity and transportation and handling of fuel. AEP also owns a service company subsidiary, American Electric Power Service Corporation (AEPSC). AEPSC provides accounting, administrative, information systems, engineering, financial, legal, maintenance and other services at cost to the AEP affiliated companies.
APCo is engaged in the generation, transmission and distribution of electric power to approximately 957,000 retail customers in the southwestern portion of Virginia and southern West Virginia, and in supplying and marketing electric power at wholesale to other electric utility companies, municipalities and other market participants. The principal industries served by APCo include paper, rubber, coal mining, textile mill products and stone, clay and glass products. In addition to its AEP System interconnections, APCo is interconnected with the unaffiliated utility companies, which include Carolina Power & Light Company, Duke Carolina and Virginia Electric and Power Company. APCo has several points of interconnection with Tennessee Valley Authority (TVA).
CSPCo is engaged in the generation, transmission and distribution of electric power to approximately 749,000 retail customers in Ohio, and in supplying and marketing electric power at wholesale to other electric utilities, municipalities and other market participants. CSPCo’s service area is consists of two areas in Ohio, which include portions of 25 counties. One area includes the City of Columbus and the other is a rural area in south central Ohio. The principal industries served by CSPCo include primary metals, chemicals and allied products, health services and electronic machinery. In addition to its AEP System interconnections, CSPCo is interconnected with unaffiliated utility companies, which include Duke Energy Ohio, Inc. (Duke Ohio), DP&L and Ohio Edison Company.
I&M is engaged in the generation, transmission and distribution of electric power to approximately 582,000 retail customers in northern and eastern Indiana and southwestern Michigan, and in supplying and marketing electric power at wholesale to other electric utility companies, rural electric cooperatives, municipalities and other market participants. The principal industries served by I&M include primary metals, transportation equipment, electrical and electronic machinery, fabricated metal products, rubber and chemicals and allied products, rubber products and transportation equipment. In addition to its AEP System interconnections, I&M is interconnected with the unaffiliated utility companies, which include Central Illinois Public Service Company, Duke Ohio, Commonwealth Edison Company, Consumers Energy Company, Illinois Power Company, Indianapolis Power & Light Company, Louisville Gas and Electric Company, Northern Indiana Public Service Company, Duke Indiana and Richmond Power & Light Company.
KPCo is engaged in the generation, transmission and distribution of electric power to approximately 174,000 retail customers in an area in eastern Kentucky, and in supplying and marketing electric power at wholesale to other electric utility companies, municipalities and other market participants. The principal industries served by KPCo include petroleum refining, coal mining and chemical production. In addition to its AEP System interconnections, KPCo is interconnected with the unaffiliated utility companies, which include Kentucky Utilities Company and East Kentucky Power Cooperative Inc. KPCo is also interconnected with TVA. KgPCo provides electric service to approximately 47,000 retail customers in Kingsport and eight neighboring communities in northeastern Tennessee. KgPCo does not own any generating facilities. KgPCo purchases electric power from APCo for distribution to its customers.
OPCo is engaged in the generation, transmission and distribution of electric power to approximately 706,000 retail customers in the northwestern, east central, eastern and southern sections of Ohio, and in supplying and marketing electric power at wholesale to other electric utility companies, municipalities and other market participants. The principal industries served by OPCo include primary metals, chemical manufacturing, petroleum refining, and rubber and plastic products. In addition to its AEP System interconnections, OPCo is interconnected with the unaffiliated utility companies, which include Duke Ohio, The Cleveland Electric Illuminating Company, DP&L, Duquesne Light Company, Kentucky Utilities Company, Monongahela Power Company, Ohio Edison Company, The Toledo Edison Company and West Penn Power Company.
PSO is engaged in the generation, transmission and distribution of electric power to approximately 532,000 retail customers in eastern and southwestern Oklahoma, and in supplying and marketing electric power at wholesale to other electric utility companies, municipalities, rural electric cooperatives and other market participants. The principal industries served by PSO are paper manufacturing and timber products, natural gas and oil extraction, transportation, non-metallic mineral production, oil refining and steel processing. In addition to its AEP System interconnections, PSO is interconnected with Empire District Electric Company, Oklahoma Gas and Electric Company, Southwestern Public Service Company and Westar Energy, Inc.
SWEPCo is engaged in the generation, transmission and distribution of electric power to approximately 520,000 retail customers in northeastern and panhandle of Texas, northwestern Louisiana and western Arkansas, and in supplying and marketing electric power at wholesale to other electric utility companies, municipalities, rural electric co-operatives and other market participants. The principal industries served by SWEPCo include natural gas and oil production, petroleum refining, manufacturing of pulp and paper, chemicals, food processing, and metal refining. The territory served by SWEPCo also includes several military installations, colleges and universities. SWEPCO also owns and operates a lignite coal mining operation. In addition to its AEP System interconnections, SWEPCo is interconnected with Cleco Corp., Empire District Electric Co., Entergy Corp. and Oklahoma Gas & Electric Co. TCC is engaged in the transmission and distribution of electric power to approximately 766,000 retail customers through Texas retail electricity provider (REPs) in southern Texas. The principal industries served by TCC are chemical and petroleum refining, chemicals and allied products, oil and gas extraction, food processing, metal refining, plastics, and machinery equipment.
TNC is engaged in the transmission and distribution of electric power to approximately 186,000 retail customers through Texas retail electricity providers (REPs) in west and central Texas. The principal industries served by TNC are petroleum refining, agriculture and the manufacturing or processing of cotton seed products, oil products, precision and consumer metal products, meat products and gypsum products. The territory served by TNC also includes several military installations and correctional facilities. WPCo provides electric service to approximately 41,000 retail customers in northern West Virginia. WPCo does not own any generating facilities. WPCo purchases electric power from OPCo for distribution to its customers. AEGCo is an electric generating company. AEGCo sells power at wholesale to I&M, CSPCo and KPCo.
UTILITY OPERATIONS
Utility operations constitute most of AEP’s business operations. Utility operations include the generation, transmission and distribution of electric power to retail customers, and the supplying and marketing of electric power at wholesale (through the electric generation function) to other electric utility companies, municipalities and other market participants. AEPSC, as agent for AEP’s public utility subsidiaries, performs marketing, generation dispatch, fuel procurement and power-related risk management and trading activities. AEP’s public utility subsidiaries own or lease approximately 37,000 MW of domestic generation.
As agent for AEP’s public utility subsidiaries, AEPSC sells excess power into the market and engages in power, natural gas, coal and emissions allowances risk management and trading activities focused in regions, in which AEP traditionally operates and in adjacent regions. These activities primarily involve the purchase and sale of electricity (and to a lesser extent, natural gas, coal and emissions allowances) under physical forward contracts at fixed and variable prices. These contracts include physical transactions, over-the-counter swaps and exchange-traded futures and options. The sources of fuel used by the AEP System include coal and lignite, natural gas, nuclear, and hydroelectric and other.
AEP’s public utility subsidiaries (other than AEGCo) own and operate transmission and distribution lines and other facilities to deliver electric power. Most of the transmission and distribution services are sold, in combination with electric power, to retail customers of AEP’s public utility subsidiaries in their service territories. AEP’s public utility subsidiaries (other than AEGCo) hold franchises or other rights to provide electric service in various municipalities and regions in their service areas. In some cases, these franchises provide the utility with the exclusive right to provide electric service. These franchises have varying provisions and expiration dates. In general, the operating companies consider their franchises to be adequate for the conduct of their business. APCo, CSPCo, I&M, KPCo and OPCo operate their transmission lines as a single interconnected and coordinated system in the AEP East transmission zone. In addition to providing transmission services in connection with their own power sales, AEP’s public utility subsidiaries through RTOs also provide transmission services for non-affiliated companies.
AEP RIVER OPERATIONS
The Company’s AEP River Operations LCC (AEP River Operations) segment transports coal and dry bulk commodities primarily on the Ohio, Illinois, and lower Mississippi rivers. Almost all of its customers are non-affiliated third-parties who obtain the transport of coal and dry bulk commodities for various uses. The Company permits AEP utility subsidiary affiliates to use certain of its equipment at rates. Its affiliated utility customers procure the transport of coal for use as fuel in their respective generating plants. AEP River Operations includes approximately 2,581 barges, 45 towboats and 26 harbor boats that it owns or leases. These assets are separate from the barges and towboats dedicated to transporting coal for use as fuel in the Company’s own generating facilities.
GENERATION AND MARKETING
The Company’s generation and marketing segment consists of non-utility generating assets, and a power supply and energy trading and marketing business. The Company enters into short and long-term transactions to buy or sell capacity, energy and ancillary services primarily in the Electric Reliability Council of Texas (ERCOT) market, and to a lesser extent Ohio in PJM Interconnection, L.L.C. and Midwest Independent Transmission System Operator. As of December 31, 2010, the assets utilized in this segment included approximately 31 megawatt of company owned domestic wind power facilities, 177 megawatt of domestic wind power from long-term purchase power agreements, and 377 megawatt of coal-fired capacity, which was obtained through an agreement that transferred TNC’s interest in the Oklaunion power station to AEP Energy Partners, Inc. The power obtained from the Oklaunion power station is marketed and sold in ERCOT. During the year ended December 31, 2010, the Company started operations of a retail energy business in the State of Ohio. The purpose of this operation is to sell power supply to residential, commercial and industrial customers in the deregulated areas of Ohio.
OVERALL
Beta: 0.59
Market Cap (Mil.): $17,502.55
Shares Outstanding (Mil.): 481.10
Annual Dividend: 1.84
Yield (%): 5.06
FINANCIALS
AEP.N Industry Sector
P/E (TTM): 14.01 22.92 22.22
EPS (TTM): -13.95 -- --
ROI: 2.85 0.95 1.36
ROE: 9.30 2.15 2.91
Statistics:
Public Company
Incorporated: 1906 as American Gas & Electric Company
Employees: 26,376
Sales: $13.69 billion (2000)
Stock Exchanges: New York
Ticker Symbol: AEP
NAIC: 551112 Public Utility Holding Companies
Key Dates:
1906: American Gas & Electric Company (AG&E) is incorporated.
1925: The company reincorporates after merging with Appalachian Securities Corporation.
1926: The company acquires additional properties in Virginia, West Virginia, and Kentucky.
1935: AG&E is forced to dispose of two noncontiguous companies--Atlantic City Electric and Scranton Electric.
1958: AG&E changes its name to American Electric Power Company (AEP).
1975: AEP opens its 2.13 million-kilowatt Cook nuclear plant in Michigan.
1980: AEP moves its headquarters to Columbus and acquires Columbus and Southern Ohio Electric Company.
1986: AEP's 2,022-mile-long, 765,000-volt transmission network stretching from Virginia to Michigan begins operation.
1996: Subsidiary AEP Communications is formed.
1997: The company acquires Yorkshire Electricity with New Century Energies for $2.8 billion.
2000: AEP acquires the utility holding company Central and South West Corp.
Name Age Since Current Position
Morris, Michael 64 2011 Independent Chairman of the Board, Chief Executive Officer
Akins, Nicholas 50 2011 President
English, Carl 64 2010 Vice Chairman
Tierney, Brian 43 2009 Chief Financial Officer, Executive Vice President
Tomasky, Susan 57 2008 President – AEP Transmission
Powers, Robert 53 2008 President - AEP Utilities
Miller, D. Michael 63 2010 Senior Vice President, General Counsel, Secretary
Hudson, Lester 71 1987 Independent Director
Sullivan, Kathryn 59 1997 Independent Director
Brooks, E. 72 2000 Independent Director
Carlton, Donald 73 2000 Independent Director
Sandor, Richard 69 2000 Independent Director
Nowell, Lionel 56 2004 Independent Director
Goodspeed, Linda 49 2005 Independent Director
Crosby, Ralph 63 2006 Independent Director
Hoaglin, Thomas 61 2008 Independent Director
Turner, John 69 2008 Independent Director
Tucker, Sara 55 2009 Independent Director
Cordes, James 70 2009 Independent Director
Address:
1 Riverside Plaza
Columbus, Ohio 43215-2373
U.S.A.
American Electric Power was the first utility to utilize 345KV transmission lines which took place in 1953.
American Electric Power Company, Inc. (AEP), incorporated in 1906, is a holding company. The Company’s public utility subsidiaries include Appalachian Power Company (APCo), Columbus Southern Power Company (CSPCo), Indiana Michigan Power Company (I&M), Kentucky Power Company (KPCo), Kingsport Power Company (KgPCo), Ohio Power Company (OPCo), Public Service Company of Oklahoma (PSO), Southwestern Electric Power Company (SWEPCo), AEP Texas Central Company (TCC), AEP Texas North Company (TNC), Wheeling Power Company (WPCo) and AEP Generating Company (AEGCo). The service areas of AEP’s public utility subsidiaries cover portions of the states of Arkansas, Indiana, Kentucky, Louisiana, Michigan, Ohio, Oklahoma, Tennessee, Texas, Virginia and West Virginia. The generating and transmission facilities of AEP’s public utility subsidiaries are interconnected and their operations are coordinated. Transmission networks are interconnected with distribution facilities in the territories served. The subsidiaries of AEP provide electric service, consisting of generation, transmission and distribution, on an integrated basis to their retail customers.
The American Electric Power System (AEP System) is an integrated electric utility system. As a result, the member companies of the AEP System have contractual, financial and other business relationships with the other member companies, such as participation in the AEP System savings and retirement plans and tax returns, sales of electricity and transportation and handling of fuel. AEP also owns a service company subsidiary, American Electric Power Service Corporation (AEPSC). AEPSC provides accounting, administrative, information systems, engineering, financial, legal, maintenance and other services at cost to the AEP affiliated companies.
APCo is engaged in the generation, transmission and distribution of electric power to approximately 957,000 retail customers in the southwestern portion of Virginia and southern West Virginia, and in supplying and marketing electric power at wholesale to other electric utility companies, municipalities and other market participants. The principal industries served by APCo include paper, rubber, coal mining, textile mill products and stone, clay and glass products. In addition to its AEP System interconnections, APCo is interconnected with the unaffiliated utility companies, which include Carolina Power & Light Company, Duke Carolina and Virginia Electric and Power Company. APCo has several points of interconnection with Tennessee Valley Authority (TVA).
CSPCo is engaged in the generation, transmission and distribution of electric power to approximately 749,000 retail customers in Ohio, and in supplying and marketing electric power at wholesale to other electric utilities, municipalities and other market participants. CSPCo’s service area is consists of two areas in Ohio, which include portions of 25 counties. One area includes the City of Columbus and the other is a rural area in south central Ohio. The principal industries served by CSPCo include primary metals, chemicals and allied products, health services and electronic machinery. In addition to its AEP System interconnections, CSPCo is interconnected with unaffiliated utility companies, which include Duke Energy Ohio, Inc. (Duke Ohio), DP&L and Ohio Edison Company.
I&M is engaged in the generation, transmission and distribution of electric power to approximately 582,000 retail customers in northern and eastern Indiana and southwestern Michigan, and in supplying and marketing electric power at wholesale to other electric utility companies, rural electric cooperatives, municipalities and other market participants. The principal industries served by I&M include primary metals, transportation equipment, electrical and electronic machinery, fabricated metal products, rubber and chemicals and allied products, rubber products and transportation equipment. In addition to its AEP System interconnections, I&M is interconnected with the unaffiliated utility companies, which include Central Illinois Public Service Company, Duke Ohio, Commonwealth Edison Company, Consumers Energy Company, Illinois Power Company, Indianapolis Power & Light Company, Louisville Gas and Electric Company, Northern Indiana Public Service Company, Duke Indiana and Richmond Power & Light Company.
KPCo is engaged in the generation, transmission and distribution of electric power to approximately 174,000 retail customers in an area in eastern Kentucky, and in supplying and marketing electric power at wholesale to other electric utility companies, municipalities and other market participants. The principal industries served by KPCo include petroleum refining, coal mining and chemical production. In addition to its AEP System interconnections, KPCo is interconnected with the unaffiliated utility companies, which include Kentucky Utilities Company and East Kentucky Power Cooperative Inc. KPCo is also interconnected with TVA. KgPCo provides electric service to approximately 47,000 retail customers in Kingsport and eight neighboring communities in northeastern Tennessee. KgPCo does not own any generating facilities. KgPCo purchases electric power from APCo for distribution to its customers.
OPCo is engaged in the generation, transmission and distribution of electric power to approximately 706,000 retail customers in the northwestern, east central, eastern and southern sections of Ohio, and in supplying and marketing electric power at wholesale to other electric utility companies, municipalities and other market participants. The principal industries served by OPCo include primary metals, chemical manufacturing, petroleum refining, and rubber and plastic products. In addition to its AEP System interconnections, OPCo is interconnected with the unaffiliated utility companies, which include Duke Ohio, The Cleveland Electric Illuminating Company, DP&L, Duquesne Light Company, Kentucky Utilities Company, Monongahela Power Company, Ohio Edison Company, The Toledo Edison Company and West Penn Power Company.
PSO is engaged in the generation, transmission and distribution of electric power to approximately 532,000 retail customers in eastern and southwestern Oklahoma, and in supplying and marketing electric power at wholesale to other electric utility companies, municipalities, rural electric cooperatives and other market participants. The principal industries served by PSO are paper manufacturing and timber products, natural gas and oil extraction, transportation, non-metallic mineral production, oil refining and steel processing. In addition to its AEP System interconnections, PSO is interconnected with Empire District Electric Company, Oklahoma Gas and Electric Company, Southwestern Public Service Company and Westar Energy, Inc.
SWEPCo is engaged in the generation, transmission and distribution of electric power to approximately 520,000 retail customers in northeastern and panhandle of Texas, northwestern Louisiana and western Arkansas, and in supplying and marketing electric power at wholesale to other electric utility companies, municipalities, rural electric co-operatives and other market participants. The principal industries served by SWEPCo include natural gas and oil production, petroleum refining, manufacturing of pulp and paper, chemicals, food processing, and metal refining. The territory served by SWEPCo also includes several military installations, colleges and universities. SWEPCO also owns and operates a lignite coal mining operation. In addition to its AEP System interconnections, SWEPCo is interconnected with Cleco Corp., Empire District Electric Co., Entergy Corp. and Oklahoma Gas & Electric Co. TCC is engaged in the transmission and distribution of electric power to approximately 766,000 retail customers through Texas retail electricity provider (REPs) in southern Texas. The principal industries served by TCC are chemical and petroleum refining, chemicals and allied products, oil and gas extraction, food processing, metal refining, plastics, and machinery equipment.
TNC is engaged in the transmission and distribution of electric power to approximately 186,000 retail customers through Texas retail electricity providers (REPs) in west and central Texas. The principal industries served by TNC are petroleum refining, agriculture and the manufacturing or processing of cotton seed products, oil products, precision and consumer metal products, meat products and gypsum products. The territory served by TNC also includes several military installations and correctional facilities. WPCo provides electric service to approximately 41,000 retail customers in northern West Virginia. WPCo does not own any generating facilities. WPCo purchases electric power from OPCo for distribution to its customers. AEGCo is an electric generating company. AEGCo sells power at wholesale to I&M, CSPCo and KPCo.
UTILITY OPERATIONS
Utility operations constitute most of AEP’s business operations. Utility operations include the generation, transmission and distribution of electric power to retail customers, and the supplying and marketing of electric power at wholesale (through the electric generation function) to other electric utility companies, municipalities and other market participants. AEPSC, as agent for AEP’s public utility subsidiaries, performs marketing, generation dispatch, fuel procurement and power-related risk management and trading activities. AEP’s public utility subsidiaries own or lease approximately 37,000 MW of domestic generation.
As agent for AEP’s public utility subsidiaries, AEPSC sells excess power into the market and engages in power, natural gas, coal and emissions allowances risk management and trading activities focused in regions, in which AEP traditionally operates and in adjacent regions. These activities primarily involve the purchase and sale of electricity (and to a lesser extent, natural gas, coal and emissions allowances) under physical forward contracts at fixed and variable prices. These contracts include physical transactions, over-the-counter swaps and exchange-traded futures and options. The sources of fuel used by the AEP System include coal and lignite, natural gas, nuclear, and hydroelectric and other.
AEP’s public utility subsidiaries (other than AEGCo) own and operate transmission and distribution lines and other facilities to deliver electric power. Most of the transmission and distribution services are sold, in combination with electric power, to retail customers of AEP’s public utility subsidiaries in their service territories. AEP’s public utility subsidiaries (other than AEGCo) hold franchises or other rights to provide electric service in various municipalities and regions in their service areas. In some cases, these franchises provide the utility with the exclusive right to provide electric service. These franchises have varying provisions and expiration dates. In general, the operating companies consider their franchises to be adequate for the conduct of their business. APCo, CSPCo, I&M, KPCo and OPCo operate their transmission lines as a single interconnected and coordinated system in the AEP East transmission zone. In addition to providing transmission services in connection with their own power sales, AEP’s public utility subsidiaries through RTOs also provide transmission services for non-affiliated companies.
AEP RIVER OPERATIONS
The Company’s AEP River Operations LCC (AEP River Operations) segment transports coal and dry bulk commodities primarily on the Ohio, Illinois, and lower Mississippi rivers. Almost all of its customers are non-affiliated third-parties who obtain the transport of coal and dry bulk commodities for various uses. The Company permits AEP utility subsidiary affiliates to use certain of its equipment at rates. Its affiliated utility customers procure the transport of coal for use as fuel in their respective generating plants. AEP River Operations includes approximately 2,581 barges, 45 towboats and 26 harbor boats that it owns or leases. These assets are separate from the barges and towboats dedicated to transporting coal for use as fuel in the Company’s own generating facilities.
GENERATION AND MARKETING
The Company’s generation and marketing segment consists of non-utility generating assets, and a power supply and energy trading and marketing business. The Company enters into short and long-term transactions to buy or sell capacity, energy and ancillary services primarily in the Electric Reliability Council of Texas (ERCOT) market, and to a lesser extent Ohio in PJM Interconnection, L.L.C. and Midwest Independent Transmission System Operator. As of December 31, 2010, the assets utilized in this segment included approximately 31 megawatt of company owned domestic wind power facilities, 177 megawatt of domestic wind power from long-term purchase power agreements, and 377 megawatt of coal-fired capacity, which was obtained through an agreement that transferred TNC’s interest in the Oklaunion power station to AEP Energy Partners, Inc. The power obtained from the Oklaunion power station is marketed and sold in ERCOT. During the year ended December 31, 2010, the Company started operations of a retail energy business in the State of Ohio. The purpose of this operation is to sell power supply to residential, commercial and industrial customers in the deregulated areas of Ohio.
OVERALL
Beta: 0.59
Market Cap (Mil.): $17,502.55
Shares Outstanding (Mil.): 481.10
Annual Dividend: 1.84
Yield (%): 5.06
FINANCIALS
AEP.N Industry Sector
P/E (TTM): 14.01 22.92 22.22
EPS (TTM): -13.95 -- --
ROI: 2.85 0.95 1.36
ROE: 9.30 2.15 2.91
Statistics:
Public Company
Incorporated: 1906 as American Gas & Electric Company
Employees: 26,376
Sales: $13.69 billion (2000)
Stock Exchanges: New York
Ticker Symbol: AEP
NAIC: 551112 Public Utility Holding Companies
Key Dates:
1906: American Gas & Electric Company (AG&E) is incorporated.
1925: The company reincorporates after merging with Appalachian Securities Corporation.
1926: The company acquires additional properties in Virginia, West Virginia, and Kentucky.
1935: AG&E is forced to dispose of two noncontiguous companies--Atlantic City Electric and Scranton Electric.
1958: AG&E changes its name to American Electric Power Company (AEP).
1975: AEP opens its 2.13 million-kilowatt Cook nuclear plant in Michigan.
1980: AEP moves its headquarters to Columbus and acquires Columbus and Southern Ohio Electric Company.
1986: AEP's 2,022-mile-long, 765,000-volt transmission network stretching from Virginia to Michigan begins operation.
1996: Subsidiary AEP Communications is formed.
1997: The company acquires Yorkshire Electricity with New Century Energies for $2.8 billion.
2000: AEP acquires the utility holding company Central and South West Corp.
Name Age Since Current Position
Morris, Michael 64 2011 Independent Chairman of the Board, Chief Executive Officer
Akins, Nicholas 50 2011 President
English, Carl 64 2010 Vice Chairman
Tierney, Brian 43 2009 Chief Financial Officer, Executive Vice President
Tomasky, Susan 57 2008 President – AEP Transmission
Powers, Robert 53 2008 President - AEP Utilities
Miller, D. Michael 63 2010 Senior Vice President, General Counsel, Secretary
Hudson, Lester 71 1987 Independent Director
Sullivan, Kathryn 59 1997 Independent Director
Brooks, E. 72 2000 Independent Director
Carlton, Donald 73 2000 Independent Director
Sandor, Richard 69 2000 Independent Director
Nowell, Lionel 56 2004 Independent Director
Goodspeed, Linda 49 2005 Independent Director
Crosby, Ralph 63 2006 Independent Director
Hoaglin, Thomas 61 2008 Independent Director
Turner, John 69 2008 Independent Director
Tucker, Sara 55 2009 Independent Director
Cordes, James 70 2009 Independent Director
Address:
1 Riverside Plaza
Columbus, Ohio 43215-2373
U.S.A.