Who We Are
“Our job is generating electricity and getting it to where it's used. We're in this business because it is concerned with the supply of a fundamental requirement of modern living, because it's an honorable one, because we like it, and because we want to earn a living at it.
‘We aim to give one kind of service to everyone... the best that's possible. That means supplying our customers with what they want when they want it. It means being courteous at all times and maintaining attractive, easy-to-do-business-with offices.
‘It means doing everything we can to keep complaints from arising, and it means prompt and fair handling of those that do.
‘We are a citizen of each community we serve and take an active part in its affairs. Like any other citizen, we want our neighbors to think well of us. Besides, it makes good business sense. We prosper only as the community prospers; so we help it thrive in every way we can.
‘Such is our job as we see it. We are trying to do it well and to do it better all the time.”
Our commitment to our customers and our contributions to society as described by George N. Tidd, president of American Gas & Electric, in 1934. The company was renamed American Electric Power in 1958. This philosophy continues to guide us today and keeps us grounded in a fast-changing environment.
AEP has been in business for more than a century. We are dedicated to delivering safe, reliable and cost-effective electricity to our customers and value to our shareholders – that’s our business. Our history is rich with ingenuity and technology breakthroughs that have enhanced the quality of life for our customers, significantly reduced our environmental impacts and developed a highly skilled work force. Our industry is experiencing a renaissance and the future is looking much different than it did a few years ago. The business model that made us so successful during the first 107 years is undergoing its own transformation. We continue to navigate these changes and build a new model for the future.
Although we are still at the beginning of this transformation, our vision is clear: We will be a cleaner, stronger regulated utility that invests in the grid to modernize it and make it more resilient. We will enable new technologies and deliver superior service to our customers through an engaged and entrepreneurial work force. We will continue to be a solid investment choice for investors. We don’t yet have all the signposts identified, but we know we are on the right path. Our increasing share price indicates investors’ confidence that our strategic direction is sound – for AEP it is all about discipline and execution.
We adopted a revised set of values this year that better reflect our culture and who we are today as we set a course for the future. We also articulated our purpose more clearly. Fundamentally, our values have not changed. Rather, we redefined what they mean in this new business environment. They also shape our culture.
Our new purpose statement – We power life’s possibilitiesSM – defines what we do and why we are here as a company. Our employees are proud to work for AEP and they wanted the purpose statement to reflect their pride and speak to the noble business we are in. Our employees took part in focus groups to help us create this purpose statement and to provide feedback as we redefined our values.