Overview
American Electric Power Co Inc (AEP) is a U.S. investor-owned electric utility holding company. Its core business is providing electricity through regulated generation, transmission and distribution, alongside retail energy supply. AEP serves customers across 11 states: Arkansas, Indiana, Kentucky, Louisiana, Michigan, Ohio, Oklahoma, Tennessee, Texas, Virginia and West Virginia.[1][2][3][4]
AEP’s stated purpose is “We power life’s possibilities”; its mission is to bring comfort to customers, support business and commerce, and build strong communities. In 2025, the company reported $21.876 billion in revenue and approximately 17,000 employees. Its history dates to 1906, when predecessor American Gas and Electric Company was incorporated.[5][6][7][8] [1][2][3][4][5][6][7][8]
Products & services
American Electric Power’s offerings include regulated retail electricity for residential, commercial and industrial customers, wholesale electricity generation and transmission service, and competitive retail, trading and marketing. For the six months ended June 30, 2026, reported revenues included $3.831 billion residential, $2.533 billion commercial and $1.624 billion industrial retail; $697 million generation; $881 million transmission; and $1.336 billion retail, trading and marketing. These are reported revenue categories rather than named products.[9]
AEP Energy supplies competitive retail electricity and natural gas, while AEP Energy Partners offers customized wholesale power products, including solar, wind and energy-storage solutions.[10][11] AEP’s 1Q 2026 presentation reports 32 GW of owned and contracted generation capacity, 40,000 transmission miles and 252,000 distribution miles.[12] Its Q2 2026 filing also lists 1,808 MW of approved renewable projects not yet in service, including 224 MW of owned battery energy storage; these are planned projects, not operating capacity.[13] [9][13][10][11][12]
Geographic presence
American Electric Power’s regulated utility subsidiaries serve portions of 11 U.S. states: Arkansas, Indiana, Kentucky, Louisiana, Michigan, Ohio, Oklahoma, Tennessee, Texas, Virginia and West Virginia.[14] Its service areas include South and West Texas; eastern and southwestern Oklahoma; western Arkansas, Louisiana and northeast Texas; eastern Kentucky; northern and eastern Indiana and southwestern Michigan; 61 counties in Ohio; and parts of Virginia, West Virginia and Tennessee.[15][16][17][18][19][20][21]
The operating-company table lists approximately 5.67 million retail customers across AEP’s utilities, with the largest customer bases in Ohio Power/AEP Ohio (about 1.55 million), AEP Texas (1.13 million) and Appalachian Power (971,000).[22] AEP reported 17,581 subsidiary employees at year-end 2025; employees are distributed across its operating utilities, while the parent holding company itself has no employees.[23][22]
AEP’s listed principal office is at 1 Riverside Plaza in Columbus, Ohio.[24] Its 2025 revenue disclosure is organized by business segment and customer class rather than geography, so it does not provide a state-, region- or country-level revenue breakdown.[25] [14][22][23][24][25][15][16][17][18][19][20][21]
Business segments
AEP reports four consolidated reportable segments. Vertically Integrated Utilities (VIU) combines generation, transmission and distribution for retail and wholesale customers [26]. Transmission and Distribution Utilities (T&D) provides transmission and distribution service to retail and wholesale customers [27]. AEP Transmission Holdco (AEPTHCo) develops, constructs and operates transmission facilities, including through transmission-only joint ventures [28][29]. Generation & Marketing (G&M) includes marketing, risk-management and retail activities in ERCOT, MISO, PJM and SPP, as well as competitive generation in PJM [30][31].
Based on 2025 external-customer revenue of $21.876 billion, approximate shares were VIU: $12.556 billion (57.4%); T&D: $6.097 billion (27.9%); AEPTHCo: $493 million (2.3%); and G&M: $2.697 billion (12.3%) [32]. These are revenue shares, not earnings shares. Corporate and Other contributed $33 million, about 0.2% of consolidated revenue, but is not a reportable segment [32][33]. [26][27][28][29][30][31][32][32][32][32][32][32][32][33]
Company history
American Electric Power traces its origins to American Gas and Electric Company, incorporated in 1906. In 1911, its predecessor placed in service a 33,000-volt transmission line linking Marion and Muncie, Indiana, forming its first interconnected system.[8][34]
The company’s shares began trading on the New York Stock Exchange in 1949, and shareholders adopted the American Electric Power name in 1958.[34][35] In 1969, AEP energized a 765-kilovolt transmission line between Kentucky and Ohio, a major milestone in high-voltage transmission.[36] AEP agreed to merge with Central and South West in 1997; the merger took effect in 2000 and expanded the company’s service area into the Southwest.[37][38] In 2019, AEP completed the purchase of wind and battery assets from Sempra Renewables, adding approximately 724 megawatts of operating assets.[39] [8][34][35][36][37][38][39]
Sources
- AMERICAN ELECTRIC POWER CO INC — Full financial report (2025 Y)
- www.aep.com[3]
- www.aep.com[4]
- www.aep.com[5]
- docs.aep.com[6]
- www.aep.com[7]
- pr.aep.com[8]
- AMERICAN ELECTRIC POWER CO INC — Full financial report (2026 Q 2)[9][13]
- www.aep.com[10]
- www.aep.com[11]
- docs.aep.com[12]
- www.aep.com[15]
- www.aep.com[16]
- www.aep.com[17]
- www.aep.com[18]
- www.aep.com[19]
- www.aep.com[20]
- www.aep.com[21]
- www.aep.com[34]
- www.swepco.com[35]
- www.aep.com[36]
- www.aep.com[37]
- www.appalachianpower.com[38]
- www.aep.com[39]
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