American Electric Power announced a $100 billion investment plan for 2027–2031 on October 28 as it reported higher quarterly earnings and increased its long-term growth outlook.
The utility said the plan includes about $37 billion for transmission, $36 billion for generation and $22 billion for distribution. These are planned investments, rather than completed projects.
AEP said it signed 15 gigawatts of new electricity demand commitments during the third quarter. It expects incremental contracted demand to reach 84 gigawatts by 2031, counting projects backed by executed service agreements or letters of agreement.
For the quarter ended September 30, reported earnings rose to $1.187 billion, or $2.18 per share, from $972 million, or $1.82 per share, a year earlier. Revenue increased to $6.832 billion from $6.011 billion.
AEP expects 2026 operating earnings at or above the $6.55 high end of its guidance range. It forecast annual operating earnings growth of 9%–11% from 2027 through 2031.
Operating earnings exclude specified gains, losses and other items. The company cautioned that projected data center demand may develop at a different pace or scale than expected.
Sources: AEP results and investment-plan release.