FINWIRES · TerminalLIVE
FINWIRES

American Electric Power Q1 Energy Delivery Mixed

By

US utility American Electric Power (AEP) on Tuesday reported its Q1 results, showing a decline over the year in energy delivered by vertically integrated utilities, and a rise in energy delivered by transmission and distribution utilities.

For the quarter ended March 31, the vertically integrated utilities segment delivered 27.777 terawatt-hours of energy, down from 28.725 TWh in the prior year, largely due to a 26% drop in wholesale volumes.

On the other hand, the transmission and distribution utilities segment delivered 26.990 TWh of energy in Q1, up from 24.194 TWh in the previous year, driven by a 33% rise in retail commercial sales.

The company said its incremental load is expected to expand to 63 gigawatts by 2030, following new load agreements, totaling 7 GW, signed in Q1.

American Electric also received a new contract award for 765-kilovolt transmission projects across SPP and PJM service areas.

To support growth, the firm said it raised its five-year capital plan to $78 billion from $72 billion, improving the compound annual growth rate of operating earnings by at least 9% through 2030.

Price: $137.14, Change: $+2.48, Percent Change: +1.84%

Related Articles

Commodities

Crescent Energy Posts Q1 Earnings, Boosted by Oil, Gas Volume Gains

Crescent Energy Company (CRGY) reported Q1 earnings Monday, showing average daily net sales volumes of 341,000 barrels of oil equivalent per day, up from 258,000 boe/d a year earlier.Crescent reported that it had outperformed average daily net sales volume estimates of 328,000 boe/d by about 4%.The company reported average daily net oil sales volumes of 140,000 barrels per day for the quarter ended March 31, up from 102,000 b/d a year earlier.Average daily net sales volumes for natural gas rose to 743 million cubic feet per day for the quarter, up from 655 MMcf/d, the company said.The company reported average daily net sales for natural gas liquids at 77,000 b/d, up from 47,000 b/d a year earlier, it added.Crescent Energy said it has achieved about $120 million in cost savings to date from its Permian integration, ahead of its original target.The company drilled 38 operated wells in Q1 and brought 37 wells online, while capital expenditures reached $385 million for the quarter, it said.Crescent Energy completed two Eagle Ford mineral acquisitions totaling about $355 million in Q1 2026, expanding its portfolio with additional exposure to undeveloped resources.

$CRGY
Commodities

Correction: New Jersey Resources Reports Q2, Reaffirms 7-9% Growth Target

(Corrects headline and paragraphs 1-4 to reflect Q2 earnings and updates figures.)New Jersey Resources (NJR) reported Q2 earnings Monday, reaffirming its Q1 multi-year growth plan targeting 7% to 9% earnings expansion, supported by a capital program of $4.8 billion to $5.2 billion through 2030.The company is expanding its utility footprint with 594,227 customers across six New Jersey counties, NJR said.NJR is advancing its solar platform with about 513 megawatts of installed capacity and a development pipeline of roughly 1.2 gigawatts, while it has already placed about 33 MW in service year to date in fiscal 2026, the company added.The company reaffirmed its fiscal 2026 capital spending plans of $775 million to $930 million and fiscal 2027 plans of $870 million to $1 billion.NJR said it is expanding storage and transportation capacity through projects such as Leaf River, which aims to increase working gas capacity by over 70% from about 32 Bcf to more than 55 Bcf, the company said.The company is also growing midstream and infrastructure assets, including Adelphia Gateway and Steckman Ridge, while targeting long-term demand growth supported by energy services, solar expansion, and pipeline investments, it said.

$NJR
Commodities

US Delays Creditor Actions on Venezuelan Bond Tied to Citgo Assets

The US has extended restrictions tied to a key Venezuelan bond, delaying creditors' ability to pursue collateral linked to the country's overseas assets, the Treasury Department said on Monday.The Treasury's Office of Foreign Assets Control said it had issued General License 5W, which authorizes certain transactions related to Venezuela's PdVSA 2020 bond only from June 19, prolonging a freeze on enforcement actions tied to the debt.The agency said transactions involving the sale or transfer of shares pledged as collateral, notably those tied to US-based refiner Citgo Petroleum, remain prohibited until June 19 unless approved by OFAC.The previous license, issued in March and continuing a series of extensions dating back to 2019, was set to expire May 5.Though the new license ultimately allows transactions related to the bond after June 19, it does not override other sanctions restrictions, meaning additional approvals may still be required.OFAC said that if creditors and Venezuela reach agreements to restructure or refinance the PdVSA 2020 bond, parties may need to seek specific licenses, adding that it would adopt a favorable licensing policy toward such arrangements.Elsewhere, the US has in recent months eased some restrictions on Venezuela's energy sector, allowing limited business with PdVSA even as core financial sanctions remain in place.