American Electric Power

American Electric Power is an investment firm that invests in companies that focuses on clean energy and electricity distribution.American Electric Power is an investment firm that invests in companies that focuses on clean energy and electricity distribution. American Electric Power has a strong tradition of leadership, service, and contributions to the communities. Its mission is to bring comfort to our customers, supporting business and commerce, and building strongcommunities.

1906: American Electric Power was founded on December 20, 1906 and is headquartered in Columbus, OH.“ Formation of the Company: 1906 Since 1906, AEP has taken great pride in serving our customers and communities.

1910: Mitchell also applied his principle of consolidation to AG&E. By 1910 Mitchell had sold all of the gas properties included in the original acquisitions, a policy the company consistently followed in later years.

1917: Following a period of strained neutrality, the United States entered the war in 1917, and the increased demands of wartime industries caused a 40 percent increase in the demand for electricity.

1920: Mitchell was instrumental in establishing the principles upon which was based the first piece of federal legislation specifically aimed at regulating electric power, the Federal Power Act of 1920. Sporn had been an engineer with AG&E since 1920, and he was interested in the technical aspects of the power industry.

1926: By 1926 Mitchell had acquired additional properties in Virginia, West Virginia, and Kentucky.

1930: Mitchell responded by directing companies controlled by Electric Bond & Share Company to spend $97 million on construction in 1930.

1933: Mitchell retired in 1933, however.

1941: When the United States entered the war in 1941, there was a rise in power demand by wartime industries, which the utilities were able to meet.

1948: In 1948 the company bought Indiana Service Corporation in Fort Wayne and consolidated it with an AG&E subsidiary, Indiana & Michigan Electric Company.

1954: In 1954 United States President Dwight D. Eisenhower signed the Atomic Energy Act, making possible the private development of nuclear energy in the United States.

1967: To avoid these problems, AEP bought 2,200 megawatts of power equipment overseas in 1967, an unusual procedure for a United States utility.

1980: AEP moves its headquarters to Columbus and acquires Columbus and Southern Ohio Electric Company.

1982: By 1982, however, a recession severely affecting industry in AEP's territories caused a drop in industrial sales of 18 percent.

1983: For AEP, which had been granted a rate increase of $260 million in 1983, the corner had been turned.

1996: 1996: Subsidiary AEP Communications is formed.

1998: AEP moved into natural gas in 1998 with the purchase of the natural gas midstream operations of Equitable Resources in Louisiana.

2001: AEP continued to expand on a smaller scale in 2001, with the takeover of the Quaker Coal Co.

2004: On August 31, 2004, American Electric Power Company's $10 billion acquisition of the Central and South West Corporation was approved.

Based on the company website, American Electric Power mission is: “to redefine the future of energy and developing innovative solutions that power communities and improve lives.” 

According to American Electric Power, the company vision is: “power a new and brighter future for our customers and communities.”