wiUSA December 2013

INDEX

Power grid improvements

American Electric Power Company Inc plans to invest over $11 billion on capital improvement projects over the next three years, with much of the money aimed at upgrading the company’s electricity transmission system. AEP made its plans known at the Edison Institute financial conference in Orlando. The Columbus-based company said it will have capital budgets of $3.8 billion a year in 2014, 2015 and 2016. “Nearly 40 percent of that money will be for transmission upgrades,” said AEP spokesman Melissa McHenry, adding that work will include

power line upgrades and investments in new transmission projects approved by PJM Interconnection. Of the total, $2.13 billion will be spent on projects in Ohio. In a press release, AEP CEO Nick Akins said the company’s infrastructure investment will be aimed at improving the reliability of electric service to customers. He said the company expects to invest nearly $5 billion in its AEP Transmission Holding Co unit, adding that the holding company’s contribution to earnings will almost double in 2014.

wiredInUSA - December 2013

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