American Electric Power is a major U.S. investor-owned electric utility with generation, transmission, and distribution operations and eight utility subsidiaries. The company's vertically integrated utilities and distribution utilities deliver electricity to more than 5.6 million customers in 11 states in the Midwest and Southeast. AEP ranks among the nation's largest generators of electricity, with about 29,000 megawatts of generating capacity and 225,000 distribution lines. AEP also owns the nation's largest electricity transmission system, with 40,000 system miles. In 2023, vertical utilities accounted for about 60% of total annual revenue, while transmission and distribution utilities accounted for about 30%. With the 2H23 sale of its competitive generating plant, Cardinal 1, in Ohio, the company has exited the wholesale generation business and left the Ohio competitive electricity market. AEP's 2023 generation mix is approximately 37% coal, 22% nuclear, 22% natural gas, and 19% renewables. While still heavily reliant on coal, the company is expanding its use of renewable energy with investments in wind generation. Its current renewable generation capacity is 6,100 MW and it plans to be carbon-zero by 2050. The company's market cap is $43.6 billion.

Stocks were mixed on Tuesday morning as investors await results from the Federal Reserve policy meeting. On the housing front, in February, housing starts rose to a seasonally adjusted annual rate of 1.52 million. This up from the revised 1.37 million in January and above expectations of 1.43 million. Building permits issued were at a seasonally adjusted annual rate of 1.52 million, up from January's revised 1.49 million. The Dow rose 0.6%, the S&P 500 was nearly flat and the Nasdaq lost 0.3%. Crude oil traded above $83 per barrel, while gold fell $7 to $2157 per ounce.

American Electric Power is one of the largest regulated utilities in the United States, providing electricity generation, transmission, and distribution to more than 5 million customers in 11 states. About 42% of AEP's of capacity is coal, with the remainder from a mix of natural gas (27%), renewable energy and hydro (21%), nuclear (8%), and demand response (2%). Vertically integrated utilities, transmission and distribution, and generation and marketing support earnings.

American Electric Power is one of the largest regulated utilities in the United States, providing electricity generation, transmission, and distribution to more than 5 million customers in 11 states. About 42% of AEP's of capacity is coal, with the remainder from a mix of natural gas (27%), renewable energy and hydro (21%), nuclear (8%), and demand response (2%). Vertically integrated utilities, transmission and distribution, and generation and marketing support earnings.