American Electric Power
American Electric Power (AEP) is a leading public utility holding company that operates one of the nation's largest electricity transmission and distribution networks. The company provides integrated electric services, including generation, transmission, and distribution, to millions of retail and wholesale customers across 11 states. AEP is currently undergoing a strategic transformation to diversify its generation fleet by increasing renewable energy capacity and reducing carbon emissions.
Financials
Based on Q1 2026 filing
Revenue
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Vertically Integrated Utilities
primaryOperates as integrated electricity providers involving the generation, transmission, and distribution of power to retail and wholesale customers in regulated jurisdictions.
Retail Electric Service, Wholesale Electric Sales, Off-system Sales
Residential, Commercial, Industrial, Municipalities, Rural Electric Cooperatives
Transmission and Distribution Utilities
majorFocuses on the delivery of electricity through transmission and distribution assets in states where generation has been unbundled from delivery services.
Electricity Transmission, Electricity Distribution
Retail Electric Providers (REPs), Residential, Commercial, Industrial
AEP Transmission Holdco
moderateDevelops and owns new transmission assets through state-specific transmission companies, primarily physically connected to the AEP System.
Transmission Grid Infrastructure, Interconnection Services
Affiliated Utilities, Regional Transmission Organizations
Generation & Marketing
moderateManages non-regulated generation assets, renewable energy projects, and energy marketing and trading activities.
Renewable Generation, Energy Marketing, Distributed Solar, Energy Efficiency Solutions
Wholesale Market Participants, Large Retail Customers, Competitive Generation Suppliers
Segment Financials
Generation and Marketing — Utility Plant Generation Resources
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View metricGeneration and Marketing — Cost of Purchased Power from Affiliate
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Competitive Position
AEP maintains a dominant position as a regulated utility provider in its service territories with a significant competitive advantage in large-scale transmission infrastructure.
Geographies
United States, Arkansas, Indiana, Kentucky, Louisiana, Michigan, Ohio, Oklahoma, Tennessee, Texas, Virginia, West Virginia
Customer Segments
Residential, Commercial, Industrial, Governmental
Upstream Dependencies
Fuel Suppliers (Coal, Natural Gas), Renewable Energy Equipment Manufacturers, Power Plant Engineering Firms, Transmission Equipment Suppliers
Downstream Customers
Residential Households, Manufacturing Facilities, Data Centers, Military Installations, Municipalities
Competitors & Partners
Competitors
Duke Energy
DUK
Peer regulated utility holding company
Exelon
EXC
Major multi-state utility peer
FirstEnergy
FE
Peer utility and competitor for transmission projects in the PJM region.
Southern Company
SO
Peer regulated utility holding company
Dominion Energy
D
Peer regulated utility in Virginia and neighboring states
PPL
PPL
Regional utility peer and competitor in transmission projects
Nextra Energy
NEE
Peer utility and renewable energy developer
Partners
Algonquin Power & Utilities
AQN
Acquirer of AEP's Kentucky operations (KPCo and KTCo)
Gallup, Inc.
Provider of employee culture and engagement surveys
PJM Interconnection
Regional Transmission Organization for AEP's eastern footprint
Southwest Power Pool (SPP)
Regional Transmission Organization for AEP's western footprint
Electric Reliability Council of Texas (ERCOT)
Independent System Operator for Texas operations
Subsidiaries
AEP Texas
Transmission and distribution utility in Texas
Appalachian Power Company (APCo)
Vertically integrated utility in VA and WV
Indiana Michigan Power (I&M)
Vertically integrated utility in IN and MI
Ohio Power Company (OPCo)
Transmission and distribution utility in Ohio
Public Service Company of Oklahoma (PSO)
Vertically integrated utility in Oklahoma
Southwestern Electric Power Company (SWEPCo)
Vertically integrated utility in TX, LA, and AR
AEP Service Corporation (AEPSC)
Internal shared services provider
AEP Renewables
Competitive renewable energy development unit
AEP OnSite Partners
Distributed energy and customer solutions provider
American Electric Power FAQ
Common questions about American Electric Power
American Electric Power (AEP) is a leading public utility holding company that operates one of the nation's largest electricity transmission and distribution networks. The company provides integrated electric services, including generation, transmission, and distribution, to millions of retail and wholesale customers across 11 states. AEP is currently undergoing a strategic transformation to diversify its generation fleet by increasing renewable energy capacity and reducing carbon emissions.
American Electric Power (AEP) has a market capitalization of $71.6B and trades on NASDAQ.
American Electric Power generated $22.4B in trailing twelve-month revenue with net income of $3.2B, representing a net margin of 14.2%, with free cash flow of $2.7B. These figures are based on the Q1 2026 filing.
American Electric Power's key competitors include Duke Energy, Exelon Corporation, FirstEnergy Corp., and others. These companies compete in similar markets and product categories.
American Electric Power has approximately 16,800 employees.