Update:  The PUCO issued two decisions on November 3 regarding the merits of the rehearing requests filed in AEP Ohio’s ESP III Case and the PPA Rider Case (some of which have been pending since March 2015).  The PUCO authorized AEP Ohio to recover from customers the net impacts associated with AEP Ohio’s contractual entitlement in the OVEC generating units through the established PPA Rider.  Further, the Commission approved AEP Ohio’s request to substantially decrease the credit commitment provision in the approved PPA Stipulation from a $100 million credit to a $15 million credit from 2020 to 2024.  The Commission also increased the Distribution Investment Rider (DIR) annual revenue caps by an additional $8.6 million, adding to the DIR caps already established.  Through multiple decisions, the PUCO has approved a total increase of $223.9 million over the rates that were in effect prior to the ESP III Case.  The PUCO adopted OMAEG”s recommendation to require AEP Ohio to recover any substandard performance penalties not paid directly by the IRP-D customer that caused the penalty by reducing the IRP-D credit provided to IRP-D customers across the entire IRP-D class, rather than seek recovery from all other customers through the EE/PDR Rider.

For additional information regarding the PUCO’s decision, see the Summary of the PUCO Order on Rehearing of AEP Ohio’s ESP III and PPA Rider prepared by Carpenter Lipps & Leland LLP.