AEP Energy Reports Competitive Retail Customer Growth
AEP Plans To Invest $2.1 Billion In Competitive, Contracted Renewables
November 9, 2020 Email This Story Copyright 2010-20 EnergyChoiceMatters.com
Reporting by Paul Ring • firstname.lastname@example.org
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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:
New Jersey 2.1%
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