The average AEP customer will pay $2-$3 more per month.
COLUMBUS, Ohio (AP) - 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.