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The American Gas and Electric Company, which would be renamed American Electric Power in 1958, was incorporated in 1906. It replaced Electric Company of America, a holding company that had existed since 1899. It built "the first plant in the world to reheat steam to do double duty in the process of generating electricity" at the Philo Power Plant in Philo, Ohio in 1923. Several of its holdings were divested following the passage of the Public Utility Holding Company Act in 1935; these holdings would include Atlantic City Electric (now a subsidiary of Exelon ) and Scranton Electric (since absorbed by PPL ). However, it retained its Central System, which ran between Michigan and Virginia. It moved its headquarters from New York City to Columbus, Ohio in the 1980s. On May 1, 1999, The North American electric power industry tested and cleared 75 percent of the U.S. electricity system for compliance with the Year 2000 computer glitch. [ citation needed ] On August 31, 2004, American Electric Power Company's $10 billion acquisition of the Central and South West Corporation was approved.
Acquisitions
1922 Indiana and Michigan Electric
1924 American Electric Power Company, a Philadelphia holding company
1925 Appalachian Power Company
1948 Indiana Service Corporation of Fort Wayne
1980 Columbus and Southern Ohio Electric Company
1997 Central and South West Corporation (completed in 2000)