, Feb. 1, 2023 /PRNewswire/ -- American Electric Power (Nasdaq: AEP) was included in Fortune magazine's 2023 World's Most Admired Companies list, which evaluates companies' financial performance and corporate reputation. This is the 10th consecutive year the company is being recognized in the list's electric and gas utilities sector.
Each year, Fortune asks top executives, directors and financial analysts to provide their opinions about the companies in their industry based upon nine criteria: financial soundness, use of corporate assets, long-term investment value, quality of management, quality of products and services, people management, innovation, social responsibility, and global competitiveness. AEP was one of 645 companies from 27 countries surveyed for inclusion on this year's list.
"AEP's strategic vision prioritizes delivering clean, reliable energy and investing in an efficient, resilient energy system to benefit our customers," said Julie Sloat, AEP president and chief executive officer. "We've received this recognition for a decade, which speaks to our ability to execute and deliver value to our stakeholders. We look forward to continuing this legacy by powering the communities we serve, leading the transition to a clean energy economy and strengthening our commitment to operational excellence."
American Electric Power, based in Columbus, Ohio, is powering a cleaner, brighter energy future for its customers and communities. AEP's approximately 17,000 employees operate and maintain the nation's largest electricity transmission system and more than 224,000 miles of distribution lines to safely deliver reliable and affordable power to 5.5 million regulated customers in 11 states. AEP also is one of the nation's largest electricity producers with approximately 31,000 megawatts of diverse generating capacity, including more than 6,900 megawatts of renewable energy. The company's plans include growing its renewable generation portfolio to approximately 50% of total capacity by 2032. AEP is on track to reach an 80% reduction in carbon dioxide emissions from 2005 levels by 2030 and has committed to achieving net zero by 2045. AEP is recognized consistently for its focus on sustainability, community engagement, and diversity, equity and inclusion. 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, east Texas and the Texas Panhandle). AEP also owns AEP Energy, which provides innovative competitive energy solutions nationwide. For more information, visit aep.com.
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SOURCE American Electric Power