AEP HONORED AS ONE OF FORTUNE'S WORLD'S MOST ADMIRED COMPANIES FOR NINTH CONSECUTIVE YEAR

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Feb 02, 2022, 10:18 ET

COLUMBUS, Ohio, Feb. 2, 2022 /PRNewswire/ -- American Electric Power (Nasdaq: AEP) was included in Fortune magazine's 2022 World's Most Admired Companies list, which evaluates companies' financial performance and corporate reputation. This is the ninth 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 640 companies from 28 countries surveyed for inclusion on this year's list.

"AEP continues to innovate and transform as we deliver custom energy solutions for our customers and solid value for our shareholders," said Nicholas K. Akins, AEP chairman, president and chief executive officer. "Our inclusion on the Most Admired list for the ninth year in a row reflects our ongoing commitment to financial and operational excellence. As we work toward a brighter energy future, we look forward to building upon our successful track record and delivering clean, reliable and affordable energy to empower the communities we serve."

American Electric Power, based in Columbus, Ohio, is powering a cleaner, brighter energy future for its customers and communities. AEP's approximately 16,700 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 5,900 megawatts of renewable energy. The company's plans include growing its renewable generation portfolio to approximately 50% of total capacity by 2030. AEP is on track to reach an 80% reduction in carbon dioxide emissions from 2000 levels by 2030 and has committed to achieving net zero by 2050. 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.

SOURCE American Electric Power