U.S. Secretary of Energy Chris Wright on Oct. 16 announced the Department of Energy’s Loan Programs Office closed a $1.6 billion loan guarantee to a subsidiary of American Electric Power, which will reconductor and rebuild around 5,000 miles of transmission lines across Indiana, Michigan, Ohio, Oklahoma, and West Virginia.
The AEP financial close is also the first closed loan guarantee under the Energy Dominance Financing (EDF) Program created by the Working Families Tax Cut, also known as the One Big Beautiful Bill Act. President Trump signed the legislation into law earlier this year.
All electric utilities receiving an EDF loan must provide assurance to DOE that financial benefits from the financing will be passed on to the customers of that utility.
