Officials Approve AEP Rate Hike
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AEP Rate Hike
Get your pocketbook ready. Your AEP electricity bill is going up.
Central Ohioans who get their electric through American Electric Power will see an increase in their bill over the next three years.
COLUMBUS, Ohio—Get your pocketbook ready. Your AEP electricity bill is going up.
Central Ohioans who get their electric through American Electric Power will see an increase in their bill over the next three years.
The Public Utilities Commission of Ohio approved a rate hike that will hit customers starting in 2009. But it won’t be as dramatic as it could have been, NBC 4 reported.
The rate decreases from 8 percent to 7 percent in 2010 and then back up to 8 percent in 2011.
AEP officials said they need to raise costs because of mounting fuel costs and proposed to increase customers’ bills 15 percent each year for the next three years.
When compounded, your bill could have eventually cost 50 percent more than it currently is.
Several public meetings were held for Central Ohio residents to sound off about the potential fuel hike.
AEP officials said the lower percentages will not be enough to get everything done, adding that the power company is not immune from rising costs and dwindling cash flow.
Officials said customers will benefit from the tools AEP Ohio will have to implement.
AEP said it’s already improving things for customers with vegetation management and grid smart programs.
PUCO’s chairman said there will be accountability in the business.
For additional information, stay with nbc4i.com and NBC 4 and refresh nbc4i.com—Where Accuracy Matters.
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Reader Reactions
OK, so they got their rate hike. And even though it’s “not enough” to do what they need to do, they are sponsoring T Boone Pickens and his alternative energy source. I’ll bet they didn’t present THIS info to the PUCO. So I guess our money is going to future possibilites, while our present electric will get no better
Cash flow problem? Oil price up? Can anyone tell me why its employee received more bonus this year than that of last year?
How much more can we take????!!!!! I am just about to be downsized from my job, applying for unemployment, eliminating all the “extras” that we can find so we can make our mortgage payment and have food for our 3 kids. How can anyone afford this? how much more can they take from us? I don’t know how anyone can survive… when is it giong to end, this rate hike after rate hike, rise in costs for EVERYTHING!
If I eliminate cable tv I should have enough to pay the higher electricity prices. But then, I’ll be watching a lot less tv so in fact my electric bill should either remain stable or (gasp!) even fall.
Would NBC4 like to do a more thorough job of reporting by telling us where AEP is making cuts as so many other businesses are doing? Oh, wait, week-long power outages, I remember now. That’s where they’re making cuts: in service. Thanks, AEP, I appreciate the sacrifice.
Can anyone explain to me where all this money is supposed to come from? City plans increasing the income tax. Increased water and trash rates. My paycheck is shrinking due to a mandatory 10 day furlough for me and my husband, who are state employees (and we don’t work any overtime and are not highly paid even though we are professionals). Not to mention higher insurance costs, food costs that supposedly increased due to fuel yet fuel is down and food is still high???
Where does it end???
Great..so the whopping $15 extra that we get in our paychecks thanks to Obama yo mama can go straight to AEP. Rising fuel costs? Aren’t fuel costs DOWN? Cash flow problems and rising costs? Solve that on your own instead of passing it on to us in a bogus rate increase. Everyone else is cutting back, do the same. Look at their financials the last 3 years, their making money hand over fist, total revenue is up year after year and cost of revenue is down considerably, what a JOKE!
UNBELIEVABLE.
We have a Mayor that wants increases, The Governor well another story..
Any Idoit with sense can see this isnt the time for any increases with the economy but then again..we have stupid people running this TOWN..PUCO etc.. that doesnt have a clue..The unemployed are limited and fixed income limited..and they just keep it up..This used to be a good place to live..Thank you AEP for taking more food off the table. There better not be another week of no electricity due to your neglect. NO EXCUSES..
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