American Electric Power (AEP)

Utilities

Business overview

American Electric Power generates and delivers electricity through its utilities. Customers pay for power and for transmission and distribution services.

Revenue mix · For the fiscal year ended 31 December 2025

Vertically Integrated Utilities: 57.4%
Transmission and Distribution Utilities: 27.9%
Generation and Marketing: 12.3%
Other Revenues: 2.4%

Suppliers, customers & competitors

Key suppliers

Coal suppliers provide fuel under contracts, while railcars, barges and terminals move and store it for AEP generating plants.
Gas suppliers and pipeline/storage providers support AEP’s gas-fired plants through forward purchases, spot purchases and transport contracts.

Customers and buyers

AEP Texas serves retail electricity customers in west, central and southern Texas; Appalachian Power serves retail customers in southwestern Virginia and southern West Virginia.
AEP’s vertically integrated utilities generate and deliver electricity to retail customers in their service territories at regulated rates.
AEP Energy sells electricity or natural gas to residential, commercial and industrial buyers in several competitive state markets and Washington, D.C.

Competitors by business area

Business area	Main competitors
Competitive energy supply	Constellation’s competitive retail energy business overlaps AEP Energy in supplying customers that can choose their electricity provider. CEG
Regulated utility territories	AEP’s vertically integrated utilities generally have exclusive service rights in their territories; their retail business is not subject to competition from other vertically integrated utilities.

Reviewed 16 October 2026. Sources: AMERICAN ELECTRIC POWER CO INC 10-K, year ended 2025-12-31 (2026-02-12) · Constellation Energy Corp 10-K, year ended 2025-12-31 (2026-02-24)

Historical financial charts are unavailable for this security in the current snapshot.