HomeJuly 27, 2023
AEP Energy Grows Customer Base By Nearly 100,000 Accounts While Working Through Sale Process
Reports Higher Retail Margins
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Retail supplier AEP Energy had approximately 844,000 customer accounts as of June 30, 2023, parent American Electric Power reported in a 10-Q.
AEP Energy had approximately 752,000 customer accounts as of March 31, 2023
As previously reported, AEP has launched a sale process for AEP Energy, and in reporting earnings today, maintained its previously announced schedule of targeting that the sales process is to be completed in the first half of 2024.
The Book value of AEP’s investment as of 6/30/2023 is $205M for the retail energy business
AEP Energy provides various energy solutions in Illinois, Pennsylvania, Delaware, Maryland, New Jersey, Ohio and Washington, D.C.
For the quarter ending June 30, 2023, AEP's competitive Retail business posted an increase in operating earnings of $0.04 per share (approximately $20 million) versus the year-ago quarter, as AEP reported higher retail power margins for the business in 2023
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