American Electric Power is reducing consumers’ bills by $78 million.
This week the Public Utilities Commission resolved an Ohio Supreme Court ruling that required the agency to re-examine aspects of AEP’s electric security plan.
The commission ordered AEP to eliminate $78 million in "provider of last resort" costs, because the company couldn’t present enough evidence to support collecting the charges.
Consumer advocates argue that more than $787 million is owed.
The commission estimates a typical AEP Ohio residential customer will save between $2 to $4 per month.