Dive Summary:
- The Public Utilities Commission of Ohio approved a new pricing plan Wednesday that may see American Electric Power Co. increase customers' bills by as much as 6-7%.
- The three-year plan will affect 1.5 million customers as AEP transitions from its previous status as a regulated monopoly into a company with competition in Ohio's electricity marketplace.
- The Ohio Consumers' Counsel is reviewing the plan but believe that it will result in hundreds of millions of dollars in rate increases for AEP customers.
From the article:
Ohio customers of American Electric Power Co. could see an estimated 6 percent to 7 percent increase in their monthly bills during the first year of a new pricing plan beginning this fall that Ohio utility regulators approved Wednesday.
The three-year plan comes as the Columbus-based company transitions from decades as a regulated monopoly to a player in a competitive market. AEP's 1.5 million customers in Ohio will be affected. ...
