American Electric Power — Jul 30, 2025 release

In June, AEP completed the transaction for KKR and PSP Investments to jointly invest $2.82 billion for a 19.9% equity interest in AEP’s Ohio and Indiana Michigan transmission companies. This transaction and the $2.3 billion forward equity issuance in the first quarter puts AEP on stable credit standings with all three rating agencies. AEP is successfully executing on its $54 billion capital plan and expects to announce a new, five-year capital plan this fall of approximately $70 billion to meet the growing energy needs of customers. Examples of this new growth include large transmission infrastructure projects. In April, the Public Utility Commission of Texas selected AEP to build one of the state’s first 765-kilovolt lines, leading to future ultra high-voltage project opportunities in Texas. Planning is also underway for additional lines in Virginia and West Virginia selected earlier this year by PJM through the Valley Link joint venture. These projects will expand the transmission backbone and support increasing demand across AEP’s service territory. AEP has secured customer agreements with firm financial commitments to add 24 gigawatts of incremental load by 2030, primarily in its Indiana, Ohio and Texas high-growth service areas. This will bring AEP’s peak load to more than 60 gigawatts, which is among the fastest-growing in the industry. In addition, there are more than 190 gigawatts of load requests at various stages of development, and AEP is actively working to convert these requests into contracts to promote long-term growth well into the next decade