U.S. utilities need more capacity as data centers use more electricity. Morningstar analysts expect data-center electricity demand to quadruple by 2030 and rise sixfold by 2035. According to estimates, data centers could potentially account for 24% of U.S. electricity use by 2030, with utilities planning to spend $240 billion in 2026 and $1.4 trillion through 2030 on upgrading the grid and transmission infrastructure.
American Electric Power (AEP) is part of that spending push. Based in Columbus, Ohio, the company operates about 225,000 circuit miles of distribution lines, serves 5.6 million customers, and has a market capitalization of roughly $70.6 billion. On Oct. 20, American Electric Power raised its quarterly dividend to $0.97 per share, up 2.1% from its previous $0.95 payout.
