AEP Ohio, a unit of American Electric Power (AEP), has filed a proposal with the Public Utilities Commission of Ohio (PUCO) to extend its current Electric Security Plan (ESP), with modifications, through May 2024.
The ESP would otherwise expire in May 2018.
“AEP Ohio is focusing on making investments that enhance the reliability and quality of service that we provide to our customers. This proposal will allow us to continue programs that have improved the reliability of our service in recent years and introduce new, smarter energy technologies on our system that help the system operate more efficiently and effectively,” says Julie Sloat, AEP Ohio’s president and chief operating officer. “It also gives us a way to invest in renewable generation that will bring clean energy, jobs and support economic development in Ohio.”
The modified ESP includes a mechanism to support the recovery of future renewable generation investments made to benefit AEP Ohio customers, as well as costs associated with AEP Ohio’s 423 MW contractual share of Ohio Valley Electric Corp. generation.
Specifically, AEP Ohio has committed to developing 900 MW of new renewable generation in the state, including 500 MW of wind and 400 MW of solar, contingent on PUCO approval.
AEP Ohio is a partner with the City of Columbus and the Smart Columbus initiative to provide safety improvements, enhance mobility, incentivize reinvestment in underserved communities, reduce energy usage and reduce carbon-dioxide emissions.
The utility anticipates a decision on this filing from PUCO in April 2017. If approved, the extended ESP would increase customer bills $1.58 per month for the average residential customer using 1,000 kWh/month and receiving generation from AEP Ohio through the auction process. Overall monthly electric bills for most residential customers are expected to decrease during the eight-year period of the plan, thanks to reductions in other charges.