COLUMBUS, Ohio - A typical American Electric Power customer will soon be paying $2 to $3 more per month to the help the company repay fuel costs.
Ohio regulators approved the repayment plan Wednesday. AEP will pay back $642 million fuel costs that have stacked up over the past three years.
The Columbus Dispatch reports AEP will repay the money over a seven-year schedule.
The action begins to resolve issues from the state Public Utilities Commission's 2009 approval of a three-year rate plan.
The additional charge to customers could start as soon as next month.
AEP has about 1.5 million customers in Ohio.
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