Anti-environmental, subsidy-dependent: The growth logic of American Electric Power

This article introduces American Electric Power (AEP) and does not constitute any investment advice. Rick Larsen, a U.S. Democratic Representative and member of the House Committee on Transportation and Infrastructure (Washington’s 2nd District), purchased AEP stock on October 6, 2025. Just days after Larsen’s purchase, AEP announced on October 16 that it had secured a $1.6 billion federal loan guarantee from the U.S. Department of Energy to upgrade its power grid. Readers familiar with this author know that he frequently reports on high-quality electric utilities—and on how rising electricity prices this year have impacted electoral outcomes. This time, AEP joins the list of such quality companies. AEP is one of the largest electric utility companies in the United States, headquartered in Columbus, Ohio. Through its vertically integrated subsidiaries—engaged in generation, transmission, and distribution—AEP delivers electricity to approximately 5.6 million customers across 11 states. Its top three shareholders are BlackRock, Vanguard Group, and State Street Advisors. Fueled by AI-driven electricity demand, AEP has recently delivered solid and growing financial performance. In Q2 2025, the company reported revenue of $5.09 billion, an increase of approximately 11.1% year-on-year. Earnings per share (EPS) for the quarter reached $1.43—exceeding analysts’ consensus estimate of $1.27 and up from $1.25 in the same period last year. As an energy industry giant, AEP maintains highly active lobbying and political engagement in Washington, D.C. In 2024, AEP spent approximately $6.454 million on federal lobbying—ranking 78th among all lobbying entities.

General Electric (GE), 2006–2026: Major asset sales and acquisitions

Major acquisitions and divestitures by General Electric over the past two decades, listed chronologically by year (including transaction values and counterparties). Current market capitalizations (as of April 3, 2026) of companies formed from GE’s divested businesses (market caps reflect significance of GE’s stake in the acquiring entity): 1. Saudi Basic Industries Corporation (SABIC) (Tadawul: 2010.SR): USD 47.592 billion. 2. Comcast Corporation (NASDAQ: CMCSA): ~USD 60–70 billion at time of transaction (early 2011); currently USD 100 billion. 3. Synchrony Financial (NYSE: SYF): USD 23.7 billion. 4. Cembra Money Bank (SIX: CMBN): USD 3.5 billion. 5. Baker Hughes Company (NASDAQ: BKR): USD 59.9 billion. 6. Wabtec Corporation (NYSE: WAB): USD 43.2 billion. 7. Danaher Corporation (NYSE: DHR): USD 135.3 billion. 8. AerCap Holdings N.V. (NYSE: AER): USD 23.2 billion. 9. GE HealthCare Technologies Inc. (NASDAQ: GEHC): USD 32.1 billion. 10. GE Vernova Inc. (NYSE: GEV): USD 242.2 billion. 11. GE Aerospace (NYSE: GE): USD 293.8 billion. 2006 1. GE announced an agreement with Apollo Investment Corporation to sell its GE Advanced Materials business—including silicone and quartz operations—for USD 3.8 billion, comprising cash and securities. Upon closing, GE retained a 10% equity stake in the new company plus a USD 400 million promissory note. GE Advanced Materials generated annual revenue of USD 2.5 billion and produced silicones, silanes, sealants, polyurethanes, adhesives, high-purity fused quartz, and ceramic materials. Headquartered in Wilton, Connecticut, it employed approximately 5,000 people across 38 global locations. It held two major joint ventures: GE Toshiba Silicones Co., Ltd. (established 1971) and GE Bayer Silicones GmbH & Co. KG (established 1998). As part of the transaction, GE also agreed with Toshiba and Bayer to acquire their respective stakes in those joint ventures. 2007 1. Sold its Plastics division to Saudi Basic Industries Corporation (SABIC) for USD 11.6 billion. 2008 1. Sold its European consumer finance operations (GEMoney Germany, Finland, Austria, and UK credit card/automotive finance businesses) to Spain’s Banco Santander for approximately USD 1.55 billion. 2. Sold its Japanese consumer finance business to Shinsei Bank, Japan, for USD 5.4 billion. 2009 1. Sold a 51% controlling stake in NBCUniversal to Comcast Corporation for approximately USD 13.8 billion. NBCUniversal—a major U.S. media conglomerate—was formed in 2004 through the merger of NBC and Universal Pictures.

AEP to Buy Mobile Power Units in Deal That May Reach $4 Billion

Oct 13, 2026

American Electric Power signed an agreement to buy up to 1.6 gigawatts of mobile generators from Mainspring Energy to support AI data centers, with a potential value exceeding $4 billion by 2034.

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AEP to Buy Mobile Power Units in Deal That May Reach $4 Billion

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