American Electric Power

In 1906, several small utilities from the Atlantic to Illinois were incorporated as American Gas and Electric Company, which is now American Electric Power.⁠[1]

The company was incorporated in the state of New York on December 20, 1906.⁠[2]

The company was reorganized in 1925.⁠[3]

The company’s stock traded on the New York Stock Exchange from 1949.⁠[2]

In 1969 the company completed the world’s first 765-kV transmission line.⁠[2]

In the early 1980s the company moved its headquarters from New York City to Columbus.⁠[2]

On June 15, 2000, the company completed its $4.5 billion acquisition of Dallas-based Central and South West Corp. (CSW). The Securities and Exchange Commission had cleared the deal late the previous day, and in exchange for Federal Energy Regulatory Commission approval the company agreed to surrender operational control of its transmission system. The combined company had more than 4.8 million customers in 11 states.⁠[4]

On October 9, 2007, the company settled a Clean Air Act case brought by the United States and other plaintiffs. Under the consent decree the company would spend more than $4.6 billion on 16 coal-fired power plants, pay a $15 million civil penalty and spend $60 million on environmental mitigation projects. By several measures it was the single largest environmental enforcement settlement.⁠[5]

Nicholas Akins became president and CEO in 2011 and chairman in 2014.⁠[6]

On June 20, 2011, the U.S. Supreme Court reversed and remanded the Second Circuit’s judgment by an 8–0 vote. The opinion by Justice Ruth Bader Ginsburg held that the Clean Air Act and the EPA’s implementation of it displace any federal common-law right to seek abatement of carbon dioxide emissions from fossil-fuel power plants.⁠[7]

On September 15, 2020, the company announced that its stock listing would move from the New York Stock Exchange to NasdaqNasdaqNasdaq is an exchange operator and financial technology company headquartered in New York. It runs The Nasdaq Stock Market and other markets and provides capital markets technology, regulatory technology, and data and index services. Founded in 1971, it combined with OMX AB in 2008, and in March 2026 the U.S. Securities and Exchange Commission approved its rules for trading tokenized securities.Open the full entry effective at the opening bell on October 1, with the ticker unchanged. Nicholas K. Akins, then chairman, president and CEO, said: “Nasdaq’s tradition of innovation aligns well with our company’s strategic goals.”⁠[8]

On August 10, 2022, the board appointed Julie A. Sloat president and chief financial officer and elected her chief executive officer effective January 1, 2023. Akins ended his term as CEO on December 31, 2022, and became executive chair.⁠[6]

On April 17, 2023, the company and Liberty, a subsidiary of Algonquin Power & Utilities Corp., agreed to terminate the previously announced sale of Kentucky Power and AEP Kentucky Transco to Liberty. Sloat said: “We believe there are opportunities ahead for our Kentucky operations.”⁠[9]

On February 26, 2024, the board appointed Ben Fowke interim chief executive officer and president, effective immediately, succeeding Julie A. Sloat. Fowke had been chairman and CEO of Xcel for more than a decade until he retired as CEO in August 2021. Lead director Sara Martinez Tucker was appointed chair.⁠[10]

Sloat was removed as chair, president and CEO after about a year in the role. Fowke said the move was not due to unethical behavior, disagreements around financial policy or a violation of the company’s code of conduct. The search for a new CEO was expected to take six months to a year.⁠[11]

On June 26, 2024, the board elected Bill Fehrman president and chief executive officer effective August 1. He had been president and CEO of Centuri Holdings and of Berkshire HathawayBerkshire HathawayBerkshire Hathaway Inc. is a multinational conglomerate holding company headquartered in Omaha, Nebraska, United States (NYSE: BRK.A/BRK.B), with businesses spanning insurance, railroads, energy, manufacturing, and retail. Warren Buffett took control of the company in 1965 and ran it until 2025, and Greg Abel succeeded him as CEO at the start of 2026. The company long held stakes in several U.S. banks, including M&T (1991–2020), Bank of America, and Wells Fargo, which it successively reduced or exited between 2020 and 2024.Open the full entry Energy, and had also led MidAmerican Energy Company, PacifiCorp Energy and the Nebraska Public Power District.⁠[12]

On January 17, 2025, the company settled with the Securities and Exchange Commission, agreeing to pay a $19 million civil penalty and to cease and desist, neither admitting nor denying the SEC’s findings.⁠[13]

The SEC charged the company with making misleading statements in a July 2020 press release about its connection to Empowering Ohio’s Economy, Inc. The SEC found that the company was the group’s sole funder, that company employees directed $1.2 million of its contributions to 501(c)(4) organizations associated with politicians, and that the company failed to disclose material related-party transactions.⁠[14]

On June 5, 2025, KKRKKRKKR (Kohlberg Kravis Roberts) is an investment firm engaged in alternative asset management, capital markets services, and insurance. Jerome Kohlberg, Henry Kravis, and George Roberts co-founded the firm in 1976. Its managed funds invest in private equity, credit, and real assets, and its subsidiary Global Atlantic operates retirement, life insurance, and reinsurance businesses. KKR listed on the New York Stock Exchange in 2010 under the ticker KKR.Open the full entry and PSP Investments completed their joint $2.82 billion acquisition of a 19.9% interest in the company’s Ohio and Indiana Michigan transmission companies, a deal announced in January 2025. The proceeds were to support the company’s five-year, $54 billion capital plan. Fehrman said: “AEP built the nation’s largest transmission grid.”⁠[15]

In 2025 the company had revenues of $21,876 million ($19,721 million in 2024) and GAAP earnings of $3.58 billion, or $6.70 per share ($2.97 billion, or $5.60 per share, in 2024). It planned to invest $72 billion from 2026 through 2030.⁠[16]

As of December 31, 2025, the company’s subsidiaries had 17,581 employees, and its vertically integrated utilities owned approximately 25,400 MW of generation.⁠[3]

In the third quarter of 2026 the company had GAAP earnings of $1,187 million, or $2.18 per share ($972 million a year earlier), and revenues of $6,832 million. It expanded its five-year capital plan through 2031 to $100 billion and signed 15 GW of new load commitments in the quarter.⁠[17]