Strategy & Future Outlook
The energy industry is in the midst of a historic transformation, driven by changing customer needs, policy demands, demographics, competitive offerings, technologies and commodity prices. Amid this changing landscape, AEP is also transforming to be more agile and customer-focused as a valued provider of energy solutions.
AEP’s strategy for growth and the way we will evolve our business model are changing as we plan for a future that is much different from the previous century. For example, our capital investments once focused primarily on large, central generation – building new capacity and controlling existing units to comply with environmental regulations and keep them running longer. Today, we are looking across the value stream of generation, transmission and distribution and are bringing our investments closer to what customers want and value most. At the same time, we are reducing our environmental footprint and reducing risk in our business, to the benefit of customers and shareholders.
To support this, we established new strategic goals and initiatives to enable us to adapt to this new landscape and be the energy company of the future. These goals do not change the fundamental business of what we do, but they do alter how we do it and how we will respond to the changing forces on our business.
Our core principles of Zero Harm, employee engagement, continuous improvement and business transformation are critical to our success.