American Electric Power — May 6, 2025 release

Our capital investments are key to enhancing reliability and customer service and meeting the over 20 gigawatts of new power demand we expect by the end of the decade. With our team’s consistent focus on accountability, and commitment to finding innovative solutions to meet customers’ power needs, we continue to see potential for an additional $10 billion of investments over the next five years. In addition, we have determined that the direct tariff exposure on our $54 billion capital plan is minimal at approximately 0.3%,” Fehrman said. Supporting Significant Load Growth with a Focus on Customer Affordability In the first quarter of 2025, commercial load grew 12.3% over the same period in 2024. This continues the trend from last year, when AEP saw overall commercial load grow by 10.6%. AEP forecasts annual total retail load growth of 8% to 9% over the next three years. The historic growth continues to be driven by large-load customer demand in Indiana, Ohio, Oklahoma and Texas. AEP’s five-year capital plan includes $34 billion for distribution and transmission investments across its footprint, supporting this demand growth. AEP, through its Transource Energy joint venture, and in collaboration with other regional utilities, was selected in February by the PJM board to complete projects totaling $1.7 billion. AEP Texas received approval in April from the Public Utility Commission of Texas to construct one of the first 765-kilovolt transmission line projects in the state. Additionally, the commission approved AEP Texas' proposed grid resiliency pl