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    Ross Bowler

    Managing Director and Senior Equity Analyst at Bank of America

    Ross Bowler is a Managing Director and Senior Equity Analyst at Bank of America, focusing on coverage of the European banking sector with in-depth analysis of major institutions such as HSBC, Barclays, Lloyds Banking Group, and BNP Paribas. He has established a robust performance record, often ranking in the top tiers of industry surveys and recognized for his insightful calls, with a track record that includes consistent recommendations on sector leaders and a top 10% analyst ranking on platforms like TipRanks for accuracy and returns. Bowler began his financial services career at Deloitte before joining the sell-side, holding analyst roles at Credit Suisse and Citigroup, and has been with Bank of America since 2015. He holds CFA and ACA designations along with FINRA Series 7 and 63 registrations, underlining his deep expertise and regulatory standing.

    Ross Bowler's questions to AMERICAN ELECTRIC POWER CO (AEP) leadership

    Ross Bowler's questions to AMERICAN ELECTRIC POWER CO (AEP) leadership • Q4 2024

    Question

    Ross Bowler of Bank of America asked for specifics on the proposed data center tariffs, including the rate structure and contract terms. He also questioned the potential scale of securitization relative to the $2 billion equity need and the structural considerations for small modular reactor (SMR) projects.

    Answer

    President and CEO William Fehrman explained that data center tariffs are driven by incremental project costs to protect existing customers, rather than a single fixed price. EVP and CFO Trevor Mihalik stated that securitization could potentially cover a 'big chunk' of the remaining $2 billion equity need. Regarding SMRs, Fehrman emphasized that while AEP is exploring partnerships, any future agreement will be structured to protect shareholders and customers from the risks of first-of-a-kind technology.

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