American Electric Power raises five-year spending by 8% to meet 63 GW of new load from data centers by 2030.
American Electric Power (NASDAQ:AEP) increased its five-year capital investment plan to $78 billion, up 8% from its previous forecast three months ago. The revision reflects surging demand from data centers, which account for nearly 90% of the expected 63 GW incremental load by 2030.
The company secured 7 GW of new large-scale energy project agreements in Q1, primarily in Ohio and Texas. AEP cited transmission investments in PJM and SPP regions, along with new natural gas-fired generation in Indiana, as key drivers of the spending boost.
AEP’s updated plan positions it as a direct beneficiary of AI infrastructure growth, as grid expansion becomes critical for data-center development. The utility serves regulated markets across multiple U.S. states, including high-demand regions for hyperscalers and industrial customers.