News Release
For Immediate Release
Contact: Shana Eiselstein
614 | 466 7750
COLUMBUS, OHIO (Feb. 25, 2009) – The Public Utilities Commission of Ohio (PUCO) today directed American Electric Power (AEP) to file tariffs continuing the company’s current rates through March 2009.
AEP’s current rates and riders will remain the same and continue through March 2009 or until the Commission establishes new rates for AEP through an electric security plan (ESP). This is consistent with Senate Bill 221 (SB 221), which outlines that the company’s rates in effect on July 31, 2008 should continue from Jan. 1, 2009 until the Commission approves new rates through an ESP.
On May 1, 2008, Gov. Ted Strickland signed SB 221 into law, marking the one year anniversary of the date he outlined his Energy, Jobs, and Progress Plan to stabilize electricity prices, create jobs, and expand Ohio’s green energy industry. SB 221 became effective on July 31, 2008 and incorporates a system under which rates would be set by the PUCO and outlines a path for electric utilities to implement market-based pricing.
AEP filed an application for an ESP on July 31, 2008. AEP is directed to file revised tariffs consistent with today’s decision by Feb. 28, 2009.
A copy of today’s Commission finding and order is available at www.PUCO.ohio.gov. Click on the link to the Docketing Information System (DIS) and enter the case number 08-1302-EL-ATA.
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08-1302-EL-ATA