Hundreds of complaints about sharp rate increases have flooded the company
(AP) Ohio regulators say they recognize the approval of higher rates for American Electric Power hurt small-business customers who saw their bills increase by up to 40 percent or more after the rates took effect last month.
The Public Utilities Commission of Ohio says it heard concerns from the governor, lawmakers and more than 200 affected customers and plans to address the issue soon.
Filings ahead of the decision indicated the rates would hurt small businesses, but the commission says it relied on incorrect estimates from AEP when it approved the rate increases.
AEP says the extent of the increases also caught it off guard. An AEP spokesman told says regulators were provided the best available information, but the utility supports revisiting the decision.