AEP Provides Timeline For Strategic Review Of Retail Supply Business

In reporting third quarter earnings today, AEP provided a timeline for its previously announced strategic review of its retail supply business, AEP Energy

AEP expects to complete the strategic evaluation of AEP Energy in the first half of 2023

"AEP has initiated a strategic evaluation for its ownership in AEP Energy, a wholly-owned retail energy supplier that supplies electricity and/or natural gas to residential, commercial and industrial customers. AEP Energy provides various energy solutions in Illinois, Pennsylvania, Delaware, Maryland, New Jersey, Ohio and Washington, D.C. AEP Energy had approximately 672,000 customer accounts as of September 30, 2022. Potential alternatives may include, but are not limited to, continued ownership or a sale of all or a part of AEP Energy. Management has not made a decision regarding the potential alternatives, but expects to complete the strategic evaluation in the first half of 2023," AEP said

For the quarter ending September 30, 2022, the retail segment reported higher retail margins and contributed an additional $0.05 per share (about $25 million) to the earnings of the Generation & Marketing segment versus the contribution in the year-ago quarter