Climate Adaptation
Utility CEO Sees Silver Lining in Working at Home: Saving Money
- With most employees at home, AEP sees no productivity loss
- CEO says new ways to work could be pandemic’s ‘silver lining’
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American Electric Power Co. Chief Executive Officer Nick Akins sees one potential upside to the coronavirus shutdown: it could lead to cheaper, more efficient ways to work.
AEP’s productivity hasn’t dropped during the pandemic even as about 70% of its employees -- or 12,000 people -- are working at home, Akins said Wednesday on a call with analysts. It could lead to ways to trim the $4 billion spent annually by the Columbus, Ohio-based company on operations and maintenance.