AEP Submits Plan to Hike Rates by Billions of Dollars

AEP Ohio recently applied to the Public Utilities Commission of Ohio (PUCO) for a new electric security plan. Gongwer reports the six-year plan would cost electricity customers $2.2 billion through a distribution investment charge. The new revenue would be used for reliability projects, expanding internet access, and broadening AEP’s electric vehicle program.

The OMA Energy Group (OMAEG) has studied AEP’s application and estimates the entire plan will cost customers closer to $4 billion. The OMAEG is considering options to challenge the excessive proposed rate increase. After AEP’s plan has been reviewed by the PUCO, it will be subject to appeal to the Supreme Court of Ohio. The PUCO will hold public hearings on the proposal before making a decision. 1/9/2023

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