Akins said that AEP continues to invest to meet the changing needs of our economy. He said power generation has always been a capital-intensive business and with the pandemic, that trend only continues. Since Covid-19 began, Akins said power demand for residential has increased as people spend more time at home, while commercial and industrial demand has plunged. As we move into 2021, Akins said he expects both of those trends to moderate and overall demand for power to increase.
When asked about the upcoming election and how it affects their planning, Akins explained that their shareholders and customers expect a clean energy utility and they continue to focus on adding more renewables to their portfolio.
Let's check out the charts.