American Electric Power

AEP’s Data Revolution: Partnering with Lucasys to Prepare for the Next Leap in Tax Technology

Retrieved on: 
Tuesday, April 2, 2024
American Electric Power, Accounting, Data management, AEP, Growth

As the utility grew, the tax function became the recipient of increasingly diverse data sources which formed the basis of key tax compliance, accounting, and planning processes.

Key Points: 
  • As the utility grew, the tax function became the recipient of increasingly diverse data sources which formed the basis of key tax compliance, accounting, and planning processes.
  • Recognizing the need for streamlined operations and cohesive data management, AEP engaged Lucasys to optimize internal processes, cleanse disparate data sets, and realize greater technological efficiencies.
  • AEP has expanded its collaboration with Lucasys, including the design, development, and execution of a plan to standardize and cleanse its tax fixed asset and tax accounting data.
  • The successful collaboration with Lucasys has helped position AEP to leverage its data as a strategic asset for the future.

Appeals Court Rules Winter Storm Uri Cases Can Move Forward Against Transmission and Distribution Utilities

Retrieved on: 
Wednesday, April 3, 2024
Legal, Professional Services, Storm, Electricity, Winter storm, CenterPoint Energy, Personal injury, Luminant, NRG, American Electric Power, Supreme Court of Texas, Death, Freezing, Oncor Electric Delivery, ERCOT, Exelon, Tobacco

A three-judge panel of the Texas 14th Court of Appeals in Houston has unanimously ruled that Winter Storm Uri-related lawsuits against Texas electric transmission and distribution utilities (TDUs) can move forward to trial.

Key Points: 
  • A three-judge panel of the Texas 14th Court of Appeals in Houston has unanimously ruled that Winter Storm Uri-related lawsuits against Texas electric transmission and distribution utilities (TDUs) can move forward to trial.
  • “It was a conscious decision to cut off power to certain neighborhoods and several people lost their lives as a result.
  • In 2023, the Texas Supreme Court found that ERCOT, the nonprofit corporation operating the state’s electrical grid, qualified for sovereign immunity from litigation.
  • Winter Storm Uri brought near-zero-degree temperatures and freezing rain to Texas in February 2021.

AEP Named Leader on New JUST Jobs Scorecard

Retrieved on: 
Thursday, April 4, 2024
American Electric Power, Electricity, Health, AEP, Carbon, Investment, Multimedia

COLUMBUS, Ohio, April 4, 2024 /PRNewswire/ -- American Electric Power (Nasdaq: AEP) is one of six companies to earn the JUST Jobs Leader designation on the JUST Jobs Scorecard released today.

Key Points: 
  • COLUMBUS, Ohio, April 4, 2024 /PRNewswire/ -- American Electric Power (Nasdaq: AEP) is one of six companies to earn the JUST Jobs Leader designation on the JUST Jobs Scorecard released today.
  • The JUST Jobs Scorecard is a new, data-driven tool that helps companies prioritize investments in their employees.
  • "Investing in our employees is a top priority, and it's an honor to be named as a leader on the new JUST Jobs Scorecard," said Phil Ulrich, AEP's chief human resources officer.
  • Additionally, AEP earned a maximum score of 4 in two topic areas, employee wellness and training and development, and was named a top performer in those categories.

Natixis Corporate & Investment Banking leads $1.27Bn construction financing of four renewable energy projects for Invenergy

Retrieved on: 
Friday, March 22, 2024
AEP, Natixis, American Electric Power, Diversion, PSO, Public service company, Wind, Investment banking, Senior, Capital market, SWEPCO, Renewable energy

NEW YORK, March 22, 2024 /PRNewswire/ -- Natixis Corporate and Investment Banking (Natixis CIB) has closed a series of financings to support the development and construction of Invenergy's renewable power projects in Kansas and Texas.

Key Points: 
  • NEW YORK, March 22, 2024 /PRNewswire/ -- Natixis Corporate and Investment Banking (Natixis CIB) has closed a series of financings to support the development and construction of Invenergy's renewable power projects in Kansas and Texas.
  • Diversion, a 200 MW wind project located in Baylor and Wilbarger Counties, Texas.
  • Flat Ridge IV, a 135 MW wind project located in Harper and Kingsman Counties, Kansas.
  • This series of financings demonstrates Natixis' commitment to accelerating the energy transition and supporting its clients along the way," said James Kaiser, Managing Director, and Head of North America Infrastructure & Energy Finance at Natixis CIB.

OLD REPUBLIC ANNOUNCES THE ADDITION OF THERACE M. RISCH TO THE BOARD OF DIRECTORS

Retrieved on: 
Monday, March 18, 2024
Old Republic International, Audit, Digital, Executive, American Electric Power, Insurance, Country Financial, Management

CHICAGO, March 18, 2024 /PRNewswire/ -- Old Republic International Corporation (NYSE: ORI) today announced Therace M. Risch (51) has joined its Board of Directors as of March 18, 2024.

Key Points: 
  • CHICAGO, March 18, 2024 /PRNewswire/ -- Old Republic International Corporation (NYSE: ORI) today announced Therace M. Risch (51) has joined its Board of Directors as of March 18, 2024.
  • She has concurrently been appointed to the Board's Audit and Governance and Nominating Committees, as well as to the Directorship of ORI's major regulated insurance company subsidiaries.
  • Including Therace Risch, ORI has added six new, highly qualified individuals to ORI and its major regulated insurance company subsidiaries' Boards of Directors in the last 5 years.
  • ORI continues to make significant progress to provide greater diversity of talents, professions, and other backgrounds to the Board.

Hooper named President of We Energies and Wisconsin Public Service

Retrieved on: 
Tuesday, March 12, 2024
WEC, Ohio State University, WEC Energy Group, Business, NIPSCO, American Electric Power, Lead, Fisher College, NiSource, Megaproject, Regulation, Strategic leadership, Peoples Energy, Management

MILWAUKEE, March 12, 2024 /PRNewswire/ -- WEC Energy Group (NYSE: WEC) announced today that Michael Hooper, currently president and chief operating officer of Northern Indiana Public Service Company (NIPSCO), a subsidiary of NiSource (NYSE: NI), has been named president of We Energies and Wisconsin Public Service, effective April 1, 2024.

Key Points: 
  • MILWAUKEE, March 12, 2024 /PRNewswire/ -- WEC Energy Group (NYSE: WEC) announced today that Michael Hooper, currently president and chief operating officer of Northern Indiana Public Service Company (NIPSCO), a subsidiary of NiSource (NYSE: NI), has been named president of We Energies and Wisconsin Public Service, effective April 1, 2024.
  • "We're fortunate to have Mike join our senior leadership team," said Scott Lauber, president and chief executive officer of WEC Energy Group.
  • Hooper will have primary responsibility for the electric and gas distribution business, customer service, power generation and major projects for We Energies and Wisconsin Public Service.
  • The company's principal utilities are We Energies, Wisconsin Public Service, Peoples Gas, North Shore Gas, Michigan Gas Utilities, Minnesota Energy Resources and Upper Michigan Energy Resources.

AEP Completes Sale of New Mexico Solar Assets

Retrieved on: 
Tuesday, February 27, 2024
American Electric Power, AEP, Multimedia, Exu, Sale, Federal Energy Regulatory Commission, Carbon, Electricity, NMRD, Renewable energy

COLUMBUS, Ohio, Feb. 27, 2024 /PRNewswire/ -- American Electric Power (Nasdaq: AEP) has completed the sale of its 50% interest in New Mexico Renewable Development, LLC (NMRD) to Exus North America Holdings, LLC (Exus).

Key Points: 
  • COLUMBUS, Ohio, Feb. 27, 2024 /PRNewswire/ -- American Electric Power (Nasdaq: AEP) has completed the sale of its 50% interest in New Mexico Renewable Development, LLC (NMRD) to Exus North America Holdings, LLC (Exus).
  • AEP began the sale process in June 2023 and received necessary regulatory approval from the Federal Energy Regulatory Commission, New Mexico regulatory approvals associated with one of NMRD's projects and clearance under the Hart-Scott-Rodino Antitrust Improvement Act of 1976.
  • The sale portfolio includes nine operating solar developments totaling 185 MW and six projects under development with an estimated output of 440 MW.
  • AEP also owns AEP Energy, which provides innovative competitive energy solutions nationwide.

AEP Announces CEO Transition

Retrieved on: 
Monday, February 26, 2024
AEP, Internet, Xcel Energy, American Electric Power, Sloat, Committee on Finance, Former, Management

AEP Board Member and Former Chairman and CEO of Xcel Energy, Benjamin G.S.

Key Points: 
  • AEP Board Member and Former Chairman and CEO of Xcel Energy, Benjamin G.S.
  • Fowke III, Appointed Interim CEO & President
    COLUMBUS, Ohio, Feb. 26, 2024 /PRNewswire/ -- American Electric Power (Nasdaq: AEP) today announced that Benjamin G.S.
  • The Board determined, based on discussions with Sloat, that it is time to identify a new CEO to lead the company's next chapter.
  • "After thorough deliberation and discussions with Julie, the Board determined now is the right time to make this leadership transition to best position AEP for the future," Tucker said.

AEP Schedules Live Webcast of Quarterly Earnings Call

Retrieved on: 
Wednesday, February 21, 2024
American Electric Power, AEP, Internet, Multimedia, Carbon, Electricity, Broadcasting

COLUMBUS, Ohio, Feb. 21, 2024 /PRNewswire/ -- American Electric Power (Nasdaq: AEP) has scheduled a quarterly earnings conference call with financial analysts at 9 a.m.

Key Points: 
  • COLUMBUS, Ohio, Feb. 21, 2024 /PRNewswire/ -- American Electric Power (Nasdaq: AEP) has scheduled a quarterly earnings conference call with financial analysts at 9 a.m.
  • The webcast will include audio of the call as well as visuals of charts and graphics referred to by AEP management during the call.
  • The call will be archived on http://www.aep.com/webcasts for use by those unable to listen to the live webcast.
  • AEP also owns AEP Energy, which provides innovative competitive energy solutions nationwide.

Program Director Jeremy Cress Joins Woolpert to Support Electrical Utilities Projects

Retrieved on: 
Wednesday, February 14, 2024
Engineering, AEP, UAS, American Electric Power, Ohio University

DAYTON, Ohio, Feb. 14, 2024 /PRNewswire-PRWeb/ -- Woolpert has hired civil engineer Jeremy Cress as program director to support electrical clients, programs, and projects. Cress brings 24 years of engineering and construction management experience.

Key Points: 
  • Cress will help manage and support utilities projects and clients throughout the U.S.
    DAYTON, Ohio, Feb. 14, 2024 /PRNewswire-PRWeb/ -- Woolpert has hired civil engineer Jeremy Cress as program director to support electrical clients, programs, and projects.
  • Jeremy's surveying experience as well as his expertise in overhead electrical transmission lines and lidar technology adds an invaluable perspective and skill set to our growing utilities team.
  • Cress said that he is excited to be working with a team that is as growth-oriented, multidisciplinary, and ambitious as Woolpert's utilities team.
  • "Jeremy's surveying experience as well as his expertise in overhead electrical transmission lines and lidar technology adds an invaluable perspective and skill set to our growing utilities team," Woolpert Program Director Jason Montgomery said.