Statement From AEP About Investigation Of Ohio H.B. 6

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Jul 27, 2020, 13:43 ET

COLUMBUS, Ohio, July 27, 2020 /PRNewswire/ -- Nicholas K. Akins, American Electric Power (NYSE: AEP) Chairman, President and Chief Executive Officer, issued the following statement today regarding the investigation surrounding Ohio House Bill 6.

"I want to be clear that as the investigation of the activities surrounding House Bill 6 continues, none of the alleged wrongful conduct in the criminal complaint involves AEP or its subsidiaries. We engaged and participated in the legislative process surrounding H.B. 6 legally and ethically. To date, we have not been contacted by the authorities conducting the investigation, but if at any point we are, we will cooperate fully and transparently," Akins said.

"Neither AEP nor any of its subsidiaries made any contributions to Generation Now. AEP has made contributions to Empowering Ohio's Economy to support its mission of promoting economic and business development and educational programs in Ohio. These contributions were done appropriately, and we have every reason to believe that the organizations we support have acted in a lawful and ethical manner," Akins added.

AEP, its affiliated political action committees and AEP executives actively participate in the political process in accordance with local, state and federal laws in the states we serve. Political contributions made by AEP are disclosed in the company's Corporate Accountability Report. AEP has contributed to a variety of 501(c)(4) social welfare organizations to promote economic development and educational programs across our service territories.

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 30,000 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