The ESP proposes limited customer bill increases on generation rates, while encouraging investment in electrical infrastructure and consumer programs within the state.
According to AEP Ohio, the plan provides continued support of programs to assist low-income customers with their electric bills, adds renewable energy sources to the company’s generation mix and gives consumers an option to directly buy a portion of their electricity from renewable sources.
In addition, the plan introduces the Ohio Growth Fund, a $25m shareholder contribution designed to support economic development throughout AEP Ohio’s service territory over the ESP term.
AEP Ohio’s ESP establishes rates for all customer classes to reflect current competitive market prices and pricing structures, while proposing a mechanism that will reduce rate impacts resulting from the redesigned rate structure.
The ESP filing also provides an alternative long-term price option for certain industrial and commercial customers to support their investment in Ohio by providing price certainty for up to three years beyond the ESP period.
The plan reflects the company’s proposed merger of Columbus Southern Power and Ohio Power (OPCo) through a single set of rates for all AEP Ohio customers.
The components of this filing include requests to recover costs associated with closing of AEP Ohio-owned generation facilities; acquiring new generation resources; and environmental investments incurred after 1 January 2009.
