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AEP Provides Update On Sale Of Retail Energy Business
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In reporting quarterly earnings, AEP provided a status update on the sale of its retail energy business, AEP Energy
"We closed on the sale of our New Mexico solar assets in February and continue to work through
the final phases of the process for the AEP Energy retail and AEP OnSite Partners distributed resources
businesses. We expect to conclude that process by our second quarter earnings call this year," the company said
The second quarter earnings call typically occurs around the last week of July or first week of August.
Previously, AEP had set an expectation that the sale of the retail energy business would be concluded by the end of the second quarter of 2024, which would be June 30, 2024
Compared to the first quarter of 2023, AEP's retail energy business during the first quarter of 2024 increased its contribution to earnings by $0.02 per share
AEP listed the book value of AEP’s investment for the Retail business as of 3/31/2024 as $237M
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April 30, 2024
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Copyright 2010-24 EnergyChoiceMatters.com
Reporting by Paul Ring • ring@energychoicematters.com
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