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4-Traders Homepage  >  Equities  >  Nyse  >  American Electric Power Company Inc    AEP

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American Electric Power : Red Clay Consulting Successfully Upgrades American Electric Power Meter Data Management System

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05/22/2017 | 10:07am CEST

Columbus, OH (PRWEB) May 22, 2017

Today Red Clay Consulting, a Gold Level Oracle Partner, has announced it has completed the successful upgrade of American Electric Power's meter data management system from Oracle Utilities Meter Data Management (MDM) version 1.6 to the platform's new version 2.1.0.3.

The upgrade project was aimed at converting historical usage and customer data into the latest MDM version to meet AEP and market requirements. The effort was completed in approximately six weeks and successfully converted nearly 2 million active AMI meters and corresponding customer data across four unique AEP operating companies and five states. The new MDM version will allow AEP to better serve their clients and further enable smart meter technology within the company.

According to Paul Marnell, Managing Partner at Red Clay Consulting, "This was an outstanding conversion from LODESTAR to the newest version of Oracle Utilities MDM for American Electric Power. Red Clay and AEP successfully partnered to make this project a success, while supporting all market and settlement requirements for the Texas ERCOT market. With this implementation, we have added to an impressive delivery record stretching more than ten years of implementing these products. AEP was an exceptional partner, and I'm thrilled we could once again deliver a successful project."

About Red Clay Consulting
Red Clay, a leading consultancy for utilities, delivers seamless integrations of leading software systems. Industry experience, technical expertise, and an unyielding commitment to client success combine to deliver turnkey solutions that maximize value. As a Gold Level member of the Oracle Partner Network (OPN), Red Clay Consulting is the preferred choice among utilities for software integration and managed services. Red Clay's unparalleled experience, expertise, and execution fuel project success. To learn more about Red Clay, visit: http://www.redclay.com.

About AEP
American Electric Power is one of the largest electric utilities in the United States, delivering electricity and custom energy solutions to nearly 5.4 million customers in 11 states. AEP owns the nation's largest electricity transmission system, a more than 40,000-mile network that includes more 765-kilovolt extra-high voltage transmission lines than all other U.S. transmission systems combined. AEP also operates 224,000 miles of distribution lines. AEP ranks among the nation's largest generators of electricity, owning approximately 26,000 megawatts of generating capacity in the U.S. AEP also supplies 3,200 megawatts of renewable energy to customers. AEP's utility units operate as AEP Ohio, AEP Texas, Appalachian Power (in Virginia and West Virginia), AEP Appalachian Power (in Tennessee), Indiana Michigan Power, Kentucky Power, Public Service Company of Oklahoma, and Southwestern Electric Power Company (in Arkansas, Louisiana and east Texas). AEP's headquarters are in Columbus, Ohio.

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Read the full story at http://www.prweb.com/releases/RedClayConsulting/AEP-MDM-Upgrade/prweb14344935.htm

(c) 2017 PRWEB.COM Newswire, source Press Releases

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Financials ($)
Sales 2017 15 399 M
EBIT 2017 3 396 M
Net income 2017 1 790 M
Debt 2017 19 884 M
Yield 2017 3,42%
P/E ratio 2017 19,12
P/E ratio 2018 17,89
EV / Sales 2017 3,51x
EV / Sales 2018 3,48x
Capitalization 34 218 M
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Mean consensus OUTPERFORM
Number of Analysts 19
Average target price 70,5 $
Spread / Average Target 1,3%
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NameTitle
Nicholas K. Akins Chairman, President & Chief Executive Officer
Brian X. Tierney Chief Financial Officer & Executive Vice President
Alberto G. Ruocco Chief Information Officer & Vice President
Lionel L. Nowell Independent Director
Linda A. Goodspeed Independent Director
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