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On April 17, 2023, AEP and Liberty, a subsidiary of Algonquin Power & Utilities Corp., agreed to terminate the previously announced transaction under which AEP would sell its Kentucky operations to Liberty. Kentucky Power's distribution and transmission operations will remain AEP companies. AEP continues its commitment to providing safe and reliable service to customers in Eastern Kentucky and supporting economic growth and the energy future of the region.
"As a partner in Eastern Kentucky for more than 100 years, we're renewing our focus on bringing opportunities to the region and supporting the communities we serve. We are working diligently to reimagine our strategy with the goal of not just supporting Kentucky but being an essential part of its economic and energy future," said Julie Sloat, AEP president and chief executive officer. "We believe there are opportunities ahead for our Kentucky operations, and we will focus our efforts on economic development, reliability and controlling cost impacts to customers.
Customers do not need to take any action. They will remain Kentucky Power customers and no account, billing or payment information will change.
The leadership teams at AEP and Kentucky Power are developing a long-term strategy for Kentucky that is consistent with the goals of the Kentucky Public Service Commission. In the near-term, Kentucky Power will be focused on:
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