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PR Newswire·

AEP Texas Advances Reliability and Growth with Federal Funding Expected to Save Customers $685 Million

  • AEP Texas secured a loan agreement of up to $3.26 billion from the U.S. Department of Energy's Office of Energy Dominance Financing.
  • The funding aims to improve grid resiliency & deliver an estimated $685 million in total customer savings over 30 years.
  • The loan will finance nearly 100 projects to enhance reliability & support growth in one of the nation's fastest growing regions.
  • AEP Texas has signed letters of agreement supporting up to 41 gigawatts of potential new load additions through 2030.
  • Funds will be used to rebuild, reconductor, or construct approximately 2,800 miles of new transmission lines.
  • The investment is projected to increase transmission capacity & reduce power interruptions for customers.
  • This initiative aligns with AEP's broader 11-state strategy to secure federal funding for cost reduction & reliability investments.
  • AEP Texas serves over one million customers across nearly 100,000 square miles in south & west Texas.