Business Model Evolution
For more than a century, we have focused our business on the assets we built and the one-way flow of power to our customers from those assets. Today, we are thinking differently. Infrastructure development is central to our growth strategy, but the focus is on how the system responds to and meets customer demand; we are transforming our system to become the solutions-oriented energy provider of choice for our customers.
We have built a strong foundation for the future with a focus on enhancing the customer experience and creating shareholder value.
Our financial health is solid and we have a Regulatory Compact that supports investments in infrastructure to improve the customer experience and reliability of the grid. We are focused on bringing our investments closer to what our customers want and value, while advocating for policies that value the power grid. We are also building a culture of engagement, continuous improvement, innovation and Zero Harm among our employees.
Today, we are investing in infrastructure that makes the power grid more flexible and an optimizer of all resources and technologies. We are developing new skills in big data and analytics to help us better understand and serve our customers’ needs, and leveraging the foundation we already put in place (through gridSMART® initiatives) to improve operational performance and reliability. And we are working with our regulators and policymakers to redefine the rules to support grid modernization. We are also investing in and partnering with companies to bring next-generation technologies to market faster, such as our investment in energy storage.
At the heart of our strategy is our people; an engaging culture is a prerequisite for everything we do. It drives continuous improvement, agility, our focus on safety, innovation and competitiveness. We are transforming our culture to be more customer-centric to address changing customer needs. As we do this, we are boldly transforming AEP to be the next-generation energy company.
We are investing in infrastructure to make the power grid more flexible, reliable, secure and an optimizer of all resources.
Resource diversity is essential to provide access to safe, reliable, secure electricity for all customers and to achieve environmental goals.
We have significant opportunities to continue enhancing customer and shareholder value as we make strategic investments to deploy new technologies, generate reliable, cleaner energy and deliver solutions to meet customers' needs.
We have a firm foundation in which to invest on behalf of customers, earn a fair return and grow earnings.