Ohio AEP customers will pay about $2 to $3 more monthly to help company repay fuel costs
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Posted: 08/02/2012
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.
Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
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