COLUMBUS, Ohio, Feb. 1, 2023
/PRNewswire/ -- American Electric Power (Nasdaq: AEP) was included
in Fortune magazine's 2023 World's Most Admired Companies
list, which evaluates companies' financial performance and
corporate reputation. This is the 10th consecutive year
the company is being recognized in the list's electric and gas
utilities sector.
Each year, Fortune asks top executives, directors and
financial analysts to provide their opinions about the companies in
their industry based upon nine criteria: financial soundness, use
of corporate assets, long-term investment value, quality of
management, quality of products and services, people management,
innovation, social responsibility, and global competitiveness. AEP
was one of 645 companies from 27 countries surveyed for inclusion
on this year's list.
"AEP's strategic vision prioritizes delivering clean, reliable
energy and investing in an efficient, resilient energy system to
benefit our customers," said Julie
Sloat, AEP president and chief executive officer. "We've
received this recognition for a decade, which speaks to our ability
to execute and deliver value to our stakeholders. We look forward
to continuing this legacy by powering the communities we serve,
leading the transition to a clean energy economy and strengthening
our commitment to operational excellence."
American Electric Power, based in Columbus, Ohio, is powering a cleaner,
brighter energy future for its customers and communities. AEP's
approximately 17,000 employees operate and maintain the nation's
largest electricity transmission system and more than 224,000 miles
of distribution lines to safely deliver reliable and affordable
power to 5.5 million regulated customers in 11 states. AEP also is
one of the nation's largest electricity producers with
approximately 31,000 megawatts of diverse generating capacity,
including more than 6,900 megawatts of renewable energy. The
company's plans include growing its renewable generation portfolio
to approximately 50% of total capacity by 2032. AEP is on track to
reach an 80% reduction in carbon dioxide emissions from 2005 levels
by 2030 and has committed to achieving net zero by 2045. AEP is
recognized consistently for its focus on sustainability, community
engagement, and diversity, equity and inclusion. AEP's family of
companies includes utilities AEP Ohio, AEP Texas, Appalachian Power
(in Virginia and West Virginia), AEP Appalachian Power (in
Tennessee), Indiana Michigan
Power, Kentucky Power, Public Service Company of Oklahoma, and Southwestern Electric Power
Company (in Arkansas, Louisiana, east Texas and the Texas
Panhandle). AEP also owns AEP Energy, which provides
innovative competitive energy solutions nationwide. For more
information, visit aep.com.
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SOURCE American Electric Power