AEP

American Electric Power Company, Inc. operates as one of the largest electric utility holding companies in the United States, delivering electricity to approximately 5.6 million customers across 11 states. Headquartered in Columbus, Ohio, AEP owns the nation's largest electricity transmission system, spanning more than 40,000 miles of high-voltage lines. The company generates electricity through a diverse portfolio that includes natural gas, coal, nuclear, hydro, wind, and solar resources, with a total generating capacity exceeding 24,000 megawatts. AEP operates through two primary business segments: its Vertically Integrated Utilities, which provide generation, transmission, and distribution services, and its Transmission and Distribution Utilities, which focus on regulated transmission and distribution operations. The company employs approximately 16,500 people and generates annual revenues exceeding $17 billion. AEP has undertaken significant strategic initiatives to modernize its infrastructure and transition toward cleaner energy sources, including substantial investments in renewable energy projects and grid modernization efforts. The utility has committed to reducing carbon dioxide emissions 80% by 2050 from 2000 levels. AEP's regulated utility model provides relatively stable cash flows through cost-recovery mechanisms approved by state utility commissions, positioning the company as a core holding for income-focused investors seeking exposure to the essential services sector.