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Ohio Electricity Rates - News & Updates

Home Forums General Columbus Discussion Ohio Electricity Rates – News & Updates

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Viewing 15 posts - 61 through 75 (of 93 total)
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  • #454627

    News
    Participant

    PUCO Votes To Revert AEP Rate Increases
    Thursday February 23, 2012 10:27 AM

    COLUMBUS, Ohio – The Public Utilities Commission of Ohio on Thursday ordered American Electric Power to return its rates to levels similar to those in place that were in December. This decision came after small businesses and residential customers spoke out against the electricity provider after seeing significant increases to their electricity bills. PUCO approved an agreement in December that enabled AEP to transfer to a market-based generation rate structure from 2012 to 2016.

    READ MORE: http://www.10tv.com/content/stories/2012/02/23/columbus-aep-rates-to-revert.html

    #454628

    christylwilliams
    Participant

    Got my first bill with the rate hike. Usually in the $50-60 range. This month, $107. Good times.

    #454629

    leftovers
    Member

    christylwilliams said:
    Got my first bill with the rate hike. Usually in the $50-60 range. This month, $107. Good times.

    Whoa…that is almost double.

    #454630
    Walker Evans
    Walker Evans
    Keymaster

    Full Press Release:

    PUCO revokes AEP-Ohio electric security plan settlement agreement

    COLUMBUS, OHIO (Feb. 23, 2012) – The Public Utilities Commission of Ohio (PUCO) today disapproved AEP-Ohio’s electric security plan (ESP) as it was outlined in a settlement agreement submitted by 21 of 31 parties to the case. Upon consideration of arguments raised by parties who did not sign the settlement agreement and upon becoming aware of the actual impacts of the agreement, the Commission found that approving the agreement does not benefit ratepayers and is not in the public interest.

    The Commission has ordered AEP to return its rates, as mandated by Ohio law, to levels similar to those in place in December 2011. These rates will remain in place until a new rate plan is adopted.

    “Our decision effectively hits the reset button on AEP’s electric security plan, allows us to start over from the beginning, ensure that we have a complete picture of any proposal, and balance the interests of all customers and the utility,” Chairman Todd A. Snitchler stated. “Ohio remains committed to continuing down the path towards fully competitive markets.”

    The Commission is concerned by AEP’s recent proposal before the Federal Energy Regulatory Commission (FERC) to divest some of the company’s generation assets into neighboring states. AEP’s FERC filing fails to ensure that all generation assets currently owned by AEP will be bid into the company’s 2015 base residual auction. By taking quick, decisive action to rescind its December order and revoke asset divestiture, the Commission ensures that its consideration of this issue will not be pre-empted by FERC.

    The Commission also acknowledges that small businesses and residential customers were negatively impacted by the order approved last December. Bills for certain customers significantly exceeded what was expected based on the record in the case.

    “The evidence in the record inadvertently failed to present a full and accurate record of the actual bill impacts to be felt by customers,” Snitchler continued. “This is particularly true with respect to low load factor customers who have high electricity demand for short periods and low usage the rest of the time.”

    While the PUCO today revoked the settlement agreement filed by AEP and other signatory parties in September 2011, AEP’s underlying application filed on Jan. 27, 2011 remains in place. AEP has 30 days to amend or withdraw the application. The PUCO has reopened intervention in the case to allow any party to participate in the proceedings and will issue a procedural schedule for the case when AEP responds.

    Additional information regarding today’s Commission order is available at http://www.puco.ohio.gov/. Click on the link to “Docketing Information System” and enter case number 11-346-EL-SSO.

    #454631

    leftovers
    Member

    Whew…I was kissing my lunch money goodbye.

    #454632

    News
    Participant

    Increase in fee is sought by AEP
    By Dan Gearino
    The Columbus Dispatch
    Tuesday February 28, 2012 8:07 AM

    American Electric Power is asking state regulators to allow the company to increase a fee it charges customers who switch from the utility’s service to an alternative electricity provider. Without this charge, which would apply to both residential and business customers, the Columbus-based company warns that it might face a financial crisis. Those concerns arose last week after regulators threw out a controversial rate plan, causing AEP shares to fall sharply.

    READ MORE: http://www.dispatch.com/content/stories/business/2012/02/28/increase-in-fee-is-sought-by-aep.html

    #454633

    jbcmh81
    Participant

    So AEP is now threatening mass layoffs or even moving the HQs unless it gets the rate changes it wants.

    #454634

    gramarye
    Participant

    “Causing AEP shares to fall sharply?” They dropped from $39.75 to $37.75. As someone who was holding Netflix when they announced their brilliant Qwikster idea (sending the shares from about $300 to about $70 over the course of a few weeks), I think that that Dispatch author’s conception of what a “sharp fall” is may need some refinement.

    I have serious trouble believing that AEP will actually be facing a financial crisis if they are denied approval for yet another price hike. Based on the market’s reaction so far, either the market agrees that they’re fine as they are, or the market is very confident that PUCO will grant them approval for whatever price hike they’re going for now.

    #454635

    News
    Participant

    AEP warns of job cuts if PUCO slow to OK charge
    By Dan Gearino
    The Columbus Dispatch
    Wednesday February 29, 2012 1:15 PM

    American Electric Power’s top executive says the company will have to make drastic cuts in jobs and investment if Ohio utility regulators do not move quickly to allow an increase in a key charge paid by competing electricity suppliers.

    Nick Akins, president and CEO of the Columbus-based utility, said he faces difficult choices because of the Public Utilities Commission of Ohio’s decision last week to throw out the company’s rate plan that went into effect last month.

    READ MORE: http://www.dispatch.com/content/stories/local/2012/02/29/aep-warns-of-job-cuts-if-puco-slow-to-ok-charge.html

    #454636

    News
    Participant

    About 20 protest, saying AEP doesn’t pay fair share of taxes
    By Dan Gearino
    The Columbus Dispatch
    Thursday March 1, 2012 1:53 PM

    About 20 people protested outside American Electric Power’s Downtown headquarters today to accuse the company of being a “tax dodger,” an allegation largely based on the result of a number of tax incentives AEP received in recent years tied to the federal stimulus legislation.

    AEP paid no state or federal income tax in 2010, according to reports from Citizens for Tax Justice, a left-leaning research group. The utility was able to lower its bill to below zero because of laws that encouraged businesses to make short-term investments in new equipment and in energy efficiency.

    READ MORE: http://www.dispatch.com/content/stories/business/2012/03/01/union-protests-lack-of-taxes-paid-by-aep.html

    #454637

    joev
    Participant

    Wow – and none of their taxpayer-subsidized investments were in clean energy. Nope, good old AEP just keeps burnin’ that coal!

    #454638

    gventresca
    Member

    AEP’s strongarm tactics are an outrage. Trim the fat. like the rest of us did, to survive. As Columbus grows, your efficient operation will continue to benefit. I am not a conspiracy theorist but the bloated union payroll & “reward for tenue rather than productivity” model is a catalyst. Comeon AEP, man up.

    #454639

    News
    Participant

    AEP gets hand while disputed rate plan change worked out
    Business First by Jeff Bell, Staff reporter
    Date: Wednesday, March 7, 2012, 3:26pm EST

    The Public Utilities Commission of Ohio provided some help to American Electric Power Company Inc. on Wednesday, offering a short-term compromise in AEP Ohio’s controversial rate case. The commission, which reviews utilities’ rate hike plans for the state, established an interim two-tier capacity pricing system that will determine how much competitive retail suppliers pay to sell power to AEP Ohio’s customers.

    READ MORE: http://www.bizjournals.com/columbus/blog/2012/03/aep-gets-hand-while-disputed-rate-plan.html

    #454640

    News
    Participant

    AEP puts interim rates in place; small businesses, all-electric houses to save most
    By Dan Gearino
    The Columbus Dispatch
    Tuesday March 13, 2012 11:35 PM

    Relief has arrived for American Electric Power customers who had struggled with the company’s recent rate increases. Effective last Friday, the utility began charging a modified version of the rates it was charging at the beginning of December. This action followed a decision by the Public Utilities Commission of Ohio last month to throw out the rates that had been in effect for about three months.

    READ MORE: http://www.dispatch.com/content/stories/business/2012/03/13/aep-puts-interim-rates-in-place.html

    #454641

    News
    Participant

    AEP invites public to offer rate-plan ideas at meeting
    From staff, wire reports
    Wednesday March 21, 2012 6:03 AM

    COLUMBUS — American Electric Power managers will hold an open meeting at 1 p.m. Friday to listen to suggestions from the public as the utility prepares to file a new rate plan.

    READ MORE: http://www.dispatch.com/content/stories/business/2012/03/21/aep-invites-public-to-offer-rate-plan-ideas-at-meeting.html

Viewing 15 posts - 61 through 75 (of 93 total)

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