BECKLEY, W.Va. — A cold winter aided American Electric Power Co., increasing earnings in the first quarter of 2015.
The company earned $629 million during the quarter, up from $560 million the year before.
The company also experienced “significant” industrial growth in its shale gas counties, with a 14-percent increase year-over-year, he said.
“Although growth in the oil and gas industry may be impacted by the decline in oil prices, other industrial sectors in our service area are benefiting from lower fuel costs,” he explained.
For the second year in a row, a bitterly cold winter in the company’s service territory assisted in pushing earnings upward.
“First quarter 2014 was the coldest in 35 years. First quarter 2015 was the second-coldest…