AEP Energy

About AEP Energy

AEP Energy is a retail power marketer, which is a company that operates in deregulated electricity markets where customers are able to purchase electricity from multiple different providers. A total of 595,394 customers (487,469 residential customers and 107,925 commercial customers) receive their electricity from the company. The average electricity only residential rate for consumers of AEP Energy is approximately 8.13 cents per kilowatt hour. This is 31.93% less than the nationwide average electricity only rate of 11.95 cents, which ranks the provider 21st lowest for average electricity only rate out of 142 providers in the United States. There were a total of 22,708,055 megawatt hours sold to retail customers in 2023 by the supplier. Wholesale power purchases made up 100.00% of the total electricity sourced and 22,708,055 megawatt hours were purchased by way of wholesale channels. They earned $1,456,240,900 in 2023, which they earned entirely from sales to retail customers.

The average residential power bill for an electricity only customer of AEP Energy is $67.96 per month. Patrons of the company pay a 19.12% reduction compared to other residents of the United States. Electricity production is not part of the AEP Energy business plan, as they purchase power at wholesale rates from other companies and then resell to their end users.