For Immediate Release
Contact: Matt Schilling
614 | 466 7750
COLUMBUS, OHIO (Aug. 1, 2012) – The Public Utilities Commission of Ohio (PUCO) today authorized AEP-Ohio to begin collection of fuel costs incurred from 2009-2011. AEP-Ohio had previously deferred fuel costs as directed by the Commission in its 2009 electric security plan (ESP).
“Today’s decision allows AEP-Ohio to begin recovery of fuel costs going forward using the long-term debt rate spread over a seven-year period lessening the impact of carrying costs on customers,” said PUCO Chairman Todd A. Snitchler. “To further reduce the carrying costs, we encourage AEP-Ohio to take advantage of the securitization mechanism made available to them by the recent passage of House Bill 364.”
AEP will collect the costs on a non-bypassable basis through the end of 2018. The new rates will take effect upon the completion of AEP-Ohio’s pending ESP case in docket 11-346-EL-SSO. Additionally, AEP-Ohio will notify customers of the changes to the tariff via bill message or bill insert within 30 days of the effective date.
A copy of today’s Commission opinion and order is available at www.PUCO.ohio.gov. Click on the link to Docketing Information System and enter the case number 11-4920-EL-RDR.
The Public Utilities Commission of Ohio (PUCO) is the sole agency charged with regulating public utility service. The role of the PUCO is to assure all residential, business, and industrial consumers have access to adequate, safe, and reliable utility services at fair prices while facilitating an environment that provides competitive choices. Consumers with utility-related questions or concerns can call the PUCO Call Center at (800) 686-PUCO (7826) and speak with a representative.
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