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Some AEP Ohio Customers Expected to See Lower Rates in 2015
By: Tim Sharp
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An early filing by AEP Ohio indicates some customers will see lower rates beginning in 2015.
If approved by the Public Utilities Commission of Ohio, AEP customers who have not shopped for plans should see a 9 percent average decrease in their bills for a three year period.
The company said it has begun the process of filing the Electric Security Plan, a filing due every three years and to be submitted to the Public Utilities Commission.
Normally the process would have begun in the second quarter of next year, according to Terri Flora the Director of Communications for AEP.
She said the plan was filed early in order to provide customers, auction participants and competitive retail electric service (CRES) providers with advance knowledge of the company’s proposed auction schedule.
“It is the company’s intent that this information will help CRES providers develop more offers to benefit consumers," Flora said.
For customers who shop for their generation supply, AEP Ohio expects rates to remain flat.
That includes AEP customers who have already locked in their rates.
For the average AEP Ohio residential customer using 1,000 kilowatt hours (kWh) per month, approval of the plan would result in a decrease in a customer’s total monthly bill of approximately $9 or 8 percent starting in June 2015.
These estimates are based on current auction trends.