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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