Nicholas Akins on renewable energy strategy
From American Electric Power CEO: Electric vehicles | Mad Money | CNBC · · CNBC Television
“We were getting out ahead of our resource plans. We file individual resource plans in all the jurisdictions in eleven jurisdictions that we serve. This was a unique opportunity to get out ahead in many of those aspects, but the risk parameters around this project became such that we had to really quantify those risks. It was great for customers, but we also wanted to make sure it was great for investors.”
On , Nicholas Akins, Former Chairman, President & Chief Executive Officer at American Electric Power, spoke about renewable energy strategy during American Electric Power CEO: Electric vehicles | Mad Money | CNBC on CNBC Television.
About Nicholas Akins
In a September 2018 interview, Akins discussed American Electric Power's response to Hurricane Florence, comparing it to past storms such as Sandy and Harvey. He said the industry had made progress since Sandy by establishing regional response networks, deploying technology to track employees and contractors, and coordinating with government agencies including the Department of Energy and FEMA. He noted that Florence's flooding presented challenges similar to Harvey, and that some customers could be without power for weeks due to the need for water to recede before restoration. In a May 2019 interview, Akins reiterated the company's target of five to seven percent earnings growth, supported by a capital forecast extended to 2021. He described the cancelled Windcatcher project as a disappointment but said the company would focus on smaller renewable investments and transmission projects that carry less risk for investors. Akins also characterized electric vehicles as a growth channel for the utility industry and announced plans to build charging stations in Ohio. He contrasted the risk profile of large central-station