American Electric to support continued 5%-7% operating earnings growth
American Electric Power is increasing capital investment in its regulated operations over the next five years to provide more advanced, resilient and cleaner energy solutions for its customers. The company reaffirmed its 2019 operating earnings - excluding special items - guidance range of $4-$4.20 per share, and its projected annual operating earnings growth rate of 5%-7%. AEP plans to invest $33B in capital from 2019 through 2023, with 75% of that investment focused on its transmission and distribution operations to enhance service for customers. The company has $2.7B in new renewable generation in its capital plan during this same period, including approximately $2.2B for competitive, contracted renewable projects. AEP intends to work with regulators to identify additional opportunities to add renewable generation in its regulated jurisdictions.