COLUMBUS, Ohio, May 3, 2018 /PRNewswire/ -- American Electric Power (NYSE: AEP) issued its 12th annual Corporate Accountability Report to provide a comprehensive view of AEP's progress as a business and community partner.
The report details AEP's developments in energy and technology, social responsibility, community investments and environmental stewardship, as well as information on the company's business strategy, governance and financial performance.
"We're committed to creating the energy infrastructure and providing the services needed to support vibrant communities. Beyond the sale and delivery of electricity, we are collaborating with communities to support economic and business growth, working to increase mobility in underserved areas, investing in education and supporting cultural and community initiatives," said Nicholas K. Akins, AEP chairman, president and chief executive officer, in the report's introduction.
The report's theme, "Shaping a Brighter Energy Future Together," reflects AEP's commitment to its customers and communities and to building the modern energy infrastructure needed to support advancements in technology and a smarter, more reliable system. This year's report also introduces new sustainability goals, developed by AEP employees, demonstrating shared value for AEP and its stakeholders.
The report details AEP's progress on its strategic plans and four key principles of the company's sustainable development strategy: being a catalyst for change, supporting environmental stewardship, supporting strong local communities, and building a brighter energy future together with its customers. Highlights include:
- AEP employees' commitment to restoring power to customers. In 2017, Hurricanes Harvey, Irma and Maria left millions of customers without power. Despite the damage and challenging conditions, AEP's employees worked diligently to safely restore power while demonstrating compassion and mutual care to customers, communities and one another.
- AEP's new sustainability goals. The goals reflect AEP's commitment to the environment; efficient use of energy; safety, health and well-being of employees and the public; supplier diversity; community building; the customer experience; and economic development.
- AEP's commitment to reduce carbon dioxide emissions by 60 percent by 2030 and 80 percent by 2050 (both from a 2000 baseline) from its generating facilities.
- AEP's focus on advancing technology and innovation and its commitment to partnerships to develop smart, comprehensive and sustainable infrastructure solutions.
The 2018 Corporate Accountability Report, as well as more details about AEP's sustainable development strategy, can be found at www.aepsustainability.com.
American Electric Power, based in Columbus, Ohio, is focused on building a smarter energy infrastructure and delivering new technologies and custom energy solutions to our customers. AEP's more than 17,000 employees operate and maintain the nation's largest electricity transmission system and more than 224,000 miles of distribution lines to efficiently deliver safe, reliable power to nearly 5.4 million regulated customers in 11 states. AEP also is one of the nation's largest electricity producers with approximately 33,000 megawatts of diverse generating capacity, including 4,200 megawatts of renewable energy. AEP's family of companies includes utilities AEP Ohio, AEP Texas, Appalachian Power (in Virginia and West Virginia), AEP Appalachian Power (in Tennessee), Indiana Michigan Power, Kentucky Power, Public Service Company of Oklahoma, and Southwestern Electric Power Company (in Arkansas, Louisiana and east Texas). AEP also owns AEP Energy, AEP Energy Partners, AEP OnSite Partners and AEP Renewables, which provide innovative competitive energy solutions nationwide.
SOURCE American Electric Power