AEP Releases 2020 Corporate Accountability Report

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May 20, 2020, 08:23 ET

COLUMBUS, Ohio, May 20, 2020 /PRNewswire/ -- American Electric Power (NYSE: AEP) issued its 2020 Corporate Accountability Report, an annual assessment of its performance as a public company and a community partner. This is the 14th year of AEP's report, which details developments in energy and technology, social responsibility, community investments and environmental stewardship.

The report's theme, "Moving Forward Together for a Brighter Future," reflects AEP's goal of delivering clean, reliable and affordable energy, while also providing value to its customers, shareholders and the communities it serves. This year's report also addresses the impact of the COVID-19 pandemic on the company, its employees, customers and communities and details AEP's response to ensure the health and wellness of its workforce and the public, while maintaining critical customer services.

"Energy is an essential service that is life-sustaining and crucial to our nation's health and economic well-being. Our vision for a sustainable energy future is unwavering, and we believe it is more important than ever," said Nicholas K. Akins, AEP chairman, president and chief executive officer, in the report's introduction.

The company continues to reduce its carbon footprint by retiring coal-fired generation units, investing in renewable energy and setting aggressive emissions reduction goals. AEP has cut its carbon dioxide emissions 65% from 2000 levels. The company also is conducting a scenario analysis of how climate-related risks and opportunities may play out under different circumstances. AEP expects to publish the findings by the end of 2020.

"At AEP, we never have been more certain of our responsibility to ensure a sustainable future for our customers, communities and employees. We will continue to take steps to reduce our carbon footprint, to empower customers and to value and develop our workforce," Akins said.

AEP also enhanced its environmental, social & governance (ESG) disclosure efforts by creating an ESG Data Center that houses relevant metrics. This effort reflects the company's commitment to transparency by proactively sharing data and information about its sustainability goals, strategy and ESG performance.

View the 2020 Corporate Accountability Report and learn more about AEP's sustainable development strategy.

American Electric Power, based in Columbus, Ohio, is focused on building a smarter energy infrastructure and delivering new technologies and custom energy solutions to our customers. AEP's approximately 17,400 employees operate and maintain the nation's largest electricity transmission system and more than 221,000 miles of distribution lines to efficiently deliver safe, reliable power to nearly 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 5,200 megawatts of renewable energy. 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, AEP Energy Partners, AEP OnSite Partners, and AEP Renewables, which provide innovative competitive energy solutions nationwide. For more information, visit aep.com.

SOURCE American Electric Power