AEP has turned the utility growth story into a transmission-led data-center and industrial load story, lifting its 2026-2030 capital plan to $78 billion while preserving 2026 guidance. The investment case now depends on rate recovery, balance-sheet funding and whether signed load becomes real demand.
References
Sources used in this report
SEC APISEC company tickers exchange dataset2026-05-14 · Ticker, issuer name, exchange and CIK confirmation.SEC APISEC submissions for AEP2026-05-14 · Issuer identity, SIC, fiscal year end and filing sequence.SEC XBRL APISEC companyfacts for AEP2026-05-14 · Tagged revenue, earnings, assets, liabilities, equity, cash and debt facts.SEC annual filingAEP fiscal 2025 Form 10-K2026-02-12 · Business overview, service territory, utility assets, rate recovery, capital market dependence and risk factors.SEC quarterly filingAEP Q1 2026 Form 10-Q2026-05-05 · Latest quarterly financial statements, assets, liabilities, equity and debt.Company Form 8-K exhibitAEP Q1 2026 earnings release2026-05-05 · Q1 earnings, guidance, $78 billion capital plan, load additions and transmission plan.Company Form 8-K exhibitAEP FY2025 and Q4 2025 earnings release2026-02-12 · 2025 GAAP and operating earnings, sales volume and prior $72 billion capital plan context.Proxy filingAEP 2026 proxy statement2026-03-18 · Board, CEO, shares outstanding, beneficial ownership and governance context.SEC prospectus supplementAEP May 2026 prospectus supplement2026-05-13 · Forward common stock offering, expected proceeds, settlement timing and use of proceeds.Peer annual filingDuke Energy fiscal 2025 Form 10-K2026-02-26 · Regulated utility peer context.Peer annual filingSouthern Company fiscal 2025 Form 10-K2026-02-19 · Regulated utility peer context and large-load risk framing.Peer annual filingExelon fiscal 2025 Form 10-K2026-02-12 · Wires-utility rate-base and infrastructure investment context.