PUCO Authorizes AEP Electric Security Plan

The Public Utilities Commission of Ohio (PUCO) this week approved a settlement agreement authorizing AEP Ohio to implement a 4-year electric security plan (ESP), beginning Jun. 1, 2024.

According to the PUCO release, AEP Ohio will, under the new agreement, continue to source electricity for its customers through a competitive bidding process.

In addition to significantly reducing the over $4 billion in new and increased charges to customers that AEP initially proposed, the settlement expands participation for both the Basic Transmission Cost Rider (BTCR) Pilot and the interruptible program.

The OMA Energy Group’s successful negotiations ensured continued Pilot participation for members that participated during ESP IV or under a reasonable arrangement at all sites, with an opt-out option in the ESP’s second year and the ability to replace members who opt out with different members. The negotiations also secured continued interruptible program participation for members who participated during ESP IV.

The OMA will be discussing the settlement at the next Energy Group Committee on May 8. 4/03/2024