I have a feeling more layoffs are coming. Probably going to be some changes people won’t like either way.
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Completely unknown. We’ll see how interest rates and winter weather look, but IT was the only really bloated org. It’s a skeleton crew in most other places, especially at the OpCos
AEP, and every other electric utility, is very sensitive to interest rates because rates are built into the model. AEP borrows to build out generation, wires, and substations, and the interest expense is baked into the rates that customers pay. With high rates, customer bills go up, and public commissions push back not allowing full recovery. Think about how ApCo just had a bad outcome in its rate case.
As such, AEP has to save money elsewhere.
A really cold winter with more electric usage would help too.
If not, I would not put it past them to offer some early retirements and continue to run as lean as possible. The layoffs are only a temporary bandaid on a structural problem.
I'm asking primarily about the next few months.