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AEP Energy Reports Competitive Retail Customer Growth

AEP Plans To Invest $2.1 Billion In Competitive, Contracted Renewables


November 9, 2020

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Copyright 2010-20 EnergyChoiceMatters.com
Reporting by Paul Ring • ring@energychoicematters.com

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In a newly released investor presentation, AEP Energy listed its competitive retail customer count as 524,144. This total includes approximately 83,500 retail gas accounts

That compares to approximately 470,000 customer accounts as of December 31, 2019

AEP Energy reported that 83% of customer accounts are residential, and 17% are C&I.

AEP Energy reported that 19% of delivered load is residential, and 81% is C&I.

AEP Energy detailed its geography of customers as follows:

Ohio                53.9%
Illinois            23.6%
Pennsylvania        14.7%
Maryland             5.5%
New Jersey           2.1%
Delaware             0.2%
Washington D.C.      0.04%

In the presentation, AEP Energy listed its volumes as 25.8 TWh for electricity and 14.9 Bcf for gas. Year-to-date (as of September 30, 2020) load served was 18.8 TWh

In providing an investor update, AEP said that it will focus investment on its regulated businesses and renewable generation.

The company plans to invest $37 billion in capital from 2021 through 2025, with the bulk allocated to regulated businesses and renewables. AEP's capital plan includes $26.7 billion in transmission and distribution operations investments, "to continue updating infrastructure and implementing new technologies to benefit customers." During the same period, AEP plans to invest $2.8 billion in regulated renewable generation

AEP plans to invest $2.1 billion in competitive, contracted renewable projects during the same period

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