American Electric Power Company has just announced that they will be purchasing solar energy from another company in Turning Point Solar LLC. This would be known as the largest solar development east of the Rocky Mountains in years. Though in the past few years, AEP has been hurt from a fast drop in power demand because of the recession, this purchase with Turning Point Solar LLC will help AEP rise once again. The trend of this company is on the rise after about a couple years declining because of the recession.
Michael G. Morris has been the Chairman and CEO of AEP since 2004 and has made this company one of the largest providers of electricity in the US. Morris has earned almost a total compensation of a little over $7 million, which also includes a base salary of about $1.5 million.
AEP's mission statement is to, "bring comfort to our customers, supporting business and commerce, and building stronger communities." This statement has been apart of this company for a long time and they instill it with their employees and with their marketing tactics.
http://www.aep.com/
http://online.wsj.com/article/SB10001424052748703843804575534323343145464.html?mod=WSJ_Energy_leftHeadlines
-Michael Sheinfeld
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