Columbus, Ohio Because of an “inaccurate story” in the trade media, American Electric Power clarified the status of a senior trader in the company’s AEP Energy Services, Inc. subsidiary.
[EL&P online editor’s note: According to Dow Jones, the inaccurate story appeared in Megawatt Daily and Electric Power Daily, both publications of Platts, a unit of McGraw-Hill Cos. Dow Jones quotes “an AEP spokesman” as their source for this updated information.]
“Rick Snowdon, one of our senior traders, requested a leave of absence for personal reasons that have absolutely nothing to do with the current controversies in the energy marketplace,” said Eric J. van der Walde, AEP’s executive vice president of marketing and trading.
“Rick is a valued member of our Energy Services organization and we hope to have him back working with our group as quickly as possible. Rick will decide when he would like to return to work.
“There have been no other changes in our organization or management structure, nor do we anticipate any changes in the foreseeable future,” van der Walde stressed. “It is unfortunate that we must respond to rumors and hearsay, but we felt it critical to correct the unfounded rumors that are circulating in the marketplace.”
Snowdon is a vice president over mid-continent trading and reports to Bill Reed, senior vice president – energy trading and head of the company’s energy trading activities.
“I wanted to take some time away from trading and to spend some time with my family,” Snowdon said. “I’ve been thinking about this for some time. The timing of my decision has more to do with the onset of summer weather than it does with anything happening in the markets. I fully intend to return to the energy markets.”
American Electric Power is a multinational energy company with a balanced portfolio of energy assets. AEP, the United States’ largest electricity generator, owns and operates more than 42,000 megawatts of generating capacity in the U.S. and select international markets. AEP is a wholesale energy marketer, ranking among North America’s top providers of wholesale power and natural gas with a growing wholesale presence in European markets. In addition to electricity generation, AEP owns and operates natural gas pipeline systems, natural gas storage, coal mines, and the fourth-largest inland barge company in the U.S. AEP is also one of the largest electric utilities in the United States, with almost 5 million customers linked to AEP’s wires. The company is based in Columbus, Ohio.