American Electric Power Named One Of Fortune's World's Most Admired Companies For Fourth Consecutive Year
American Electric Power (NYSE: AEP) has been named to Fortune magazine's World's Most Admired Companies list in the electric and gas utilities sector for the fourth year in a row. The survey measures nine attributes related to financial performance and corporate reputation.
"This recognition reflects our employees' commitment to producing and delivering the safe, reliable energy that powers our homes and businesses, while investing in our communities and providing solid returns to our shareholders," said Nicholas K. Akins, AEP's chairman, president and chief executive officer. "AEP has a rich history of innovation, operational excellence and financial strength. As we transform into a next generation energy company, we are building upon this legacy and developing a smarter energy system to provide our customers with new technologies, more flexibility and cleaner sources of energy than ever before."
Each year, Fortune surveys top executives, directors and financial analysts 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. A total of 680 companies from 28 countries were surveyed to arrive at this year's list.
American Electric Power is one of the largest electric utilities in the United States, delivering electricity and custom energy solutions to nearly 5.4 million customers in 11 states. AEP owns the nation's largest electricity transmission system, a more than 40,000-mile network that includes more 765-kilovolt extra-high voltage transmission lines than all other U.S. transmission systems combined. AEP also operates 224,000 miles of distribution lines. AEP ranks among the nation's largest generators of electricity, owning approximately 26,000 megawatts of generating capacity in the U.S. AEP also supplies 3,200 megawatts of renewable energy to customers. AEP's utility units operate as 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's headquarters are in Columbus, Ohio.
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