American Electric Power Co. Inc.

Overview Key strengths Key risks Mostly lower-risk electric utility holding company. Elevated capital spending program requires balanced ongoing funding and timely cost recovery. Large operational scale with a customer base of about 5.5 million, as well as solid geographic diversity with operations in 11 U.S. states. Significant remaining coal-fired generation. Operates under generally credit-supportive and constructive regulatory frameworks. Heightened operational risk stemming from its ownership of the Cook nuclear plant. Reducing its coal-fired generation through retirements while expanding its renewable generation. Financial measures are at the lower end of our benchmark range for the significant financial risk profile category. The company has a goal of reducing its coal capacity to 19% of its total generation fleet by 2030. To accomplish

...American Electric Power Co. Inc.'s (AEP) ongoing reduction of its coal-fired generation aligns with the industry's transition toward a clean energy future. The company has a goal of reducing its coal capacity to 19% of its total generation fleet by 2030. To accomplish this, AEP intends to retire 5,600 megawatts (MW) of coal generation in the next six years, including its Rockport 1 and 2 generation...

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