AEP Initiating Sale Process For Portion Of Unregulated Business -- EnergyChoiceMatters.com

AEP Initiating Sale Process For Portion Of Unregulated Business

Retail Supplier AEP Energy Reports Customer Growth

February 24, 2022

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Copyright 2010-21 EnergyChoiceMatters.com
Reporting by Paul Ring • ring@energychoicematters.com

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In announcing fourth quarter and full year earnings today, AEP announced that it is initiating a sale process for a portion of its unregulated business to de-risk and simplify its portfolio

"In line with our commitment to prioritize investments in our regulated businesses, AEP is beginning a process to sell all or a portion of our unregulated contracted renewables portfolio," AEP said

"This move will simplify and de-risk the company while allowing us to redeploy capital to our regulated businesses, where we see a meaningful pipeline of investment opportunities to enhance service for customers across our footprint," AEP said

"We are shifting $1.5 billion in our five-year capital plan to transmission and eliminating growth capital in the unregulated contracted renewables business. This brings our planned transmission capital investment to $14.4 billion as we advance projects that modernize the grid and support the clean energy transition," AEP said

As of December 31, 2021, AEP Renewables owned projects operating in 11 states, including approximately 1,435 MWs of installed wind capacity and 165 MWs of installed solar capacity.

Separately, AEP disclosed growth in its retail energy supply business AEP Energy

AEP Energy had approximately 552,000 customer accounts as of December 31, 2021, compared to 510,000 customer accounts as of December 31, 2020

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