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AEP Posts Higher Q2 Total Electricity Deliveries, Expands Growth Pipeline

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American Electric Power (AEP) reported Q2 earnings Thursday, showing total electricity deliveries at its vertically integrated utilities of 26.382 terawatt-hours, up from 25.276 TWh a year earlier.

Retail electricity deliveries at the company's vertically integrated utilities increased to 22.832 TWh for the quarter ended June 30, up from 21.833 TWh a year earlier, while wholesale electricity deliveries rose to 3.550 TWh from 3.443 TWh.

Residential electricity deliveries at the company's vertically integrated utilities increased to 6.443 TWh for the quarter ended June 30, up from 6.372 TWh a year earlier.

Commercial deliveries rose to 7.238 TWh from 6.297 TWh, while industrial deliveries edged down to 8.584 TWh from 8.595 TWh for the same quarter last year.

Total electricity deliveries at the company's transmission and distribution utilities increased to 27.611 TWh for the quarter, up from 25.025 TWh a year earlier.

At its transmission and distribution utilities, total retail electricity deliveries increased to 27.355 TWh in Q2, up from 24.561 TWh a year earlier, while wholesale electricity deliveries declined to 256 gigawatt-hours from 464 GWh.

Residential deliveries at the company's transmission and distribution utilities declined to 6.119 TWh from 6.299 TWh, while commercial deliveries climbed to 12.961 TWh from 11.042 TWh.

Industrial electricity deliveries at the company's transmission and distribution utilities increased to 8.104 TWh from 7.048 TWh a year earlier.

AEP expanded its contracted load growth outlook to 69 gigawatts through 2030 after signing an additional 6 GW of load agreements during the quarter, primarily in Texas.

The agreements include hyperscalers, data centers and industrial customers.

The company secured about 13 GW of gas-fired turbine capacity for potential deployment through 2031 after adding 3 GW during the quarter.

AEP also continues to evaluate opportunities to secure up to 10 GW of additional turbine capacity through 2035 to support rising electricity demand.

AEP plans to invest $78 billion between 2026 and 2030 and has identified over $10 billion of additional capital opportunities, including the Wyoming fuel cell project, the Piketon transmission project in Ohio and incremental generation projects across its service territory.

The company also secured a $3.3 billion US Department of Energy loan to support almost 100 transmission projects in Texas.

Across its portfolio, AEP has obtained about $5 billion in Department of Energy loans and nearly $400 million in grants, which it expects will generate about $1.4 billion in customer savings.

Price: $127.82, Change: $-1.59, Percent Change: -1.22%

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