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AEP to invest $15B in core business


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AEP to invest $15B in core business

American ElectricPower Co. Inc. plans to invest $5 billion every year for the next threeyears to strengthen its business.

"The investments we're making to build a smarter grid, improveservice to our customers and create a balanced energy mix — coupled with our focuson controlling costs and improving the efficiency of our operations — will allowAEP to continue achieving solid financial results," AEP Chairman, Presidentand CEO Nicholas Akins told shareholders during the company's April 26 annual meeting.

During the meeting, shareholders also re-elected Akins, DavidAnderson, J. Barnie Beasley Jr., Ralph Crosby Jr., Linda Goodspeed, Thomas Hoaglin,Sandra Beach Lin, Richard Notebaert, Lionel Nowell III, Stephen Rasmussen, OliverRichard III and Sara Martinez Tucker to the board.

AEP is scheduledto release its first-quarter 2016 results on April 28.