AEP Prepares For Potential Power Outages
AEP Ohio said it continues to monitor the winter storm that is advancing on Ohio. The company expects more than 470 line workers and 120 damage assessors from eight southern states to travel to Ohio Tuesday in preparation for potential power outages due to accumulating ice and increasingly high winds.
At 4 p.m. Tuesday, there were approximately 459 AEP Ohio customers out of service, and company crews are addressing those outages.
AEP offering rebates on certain appliance purchases
AEP Ohio, a unit of American Electric Power, recently introduced its Residential ENERGY STAR Appliance Program.
In an effort to increase consumer awareness and encourage the purchase of ENERGY STAR products, AEP Ohio is offering mail-in rebates as a way of reducing the price of ENERGY STAR qualified products to their customers.
American Electric Power To Face Challenges In Ohio, PT Lowered To $39
Jefferies & Company has published a research report on American Electric Power (NYSE: AEP) and is believing that the company will face challenges with regulatory proceedings in Ohio that may inhibit the company's 4-6% growth in 2012-14.
In the report, Jefferies writes "AEP filed an Electric Security Plan (ESP) with Ohio regulators to set generation rates (G Rate) beginning in January 2012. AEP-Ohio is hoping to redesign base generation rates for the three customer classes (residential, small commercial and industrial (C&I), and large industrial). The current ESP rates are set so that small C&I customers pay much larger rates (~$90/MWh) versus residential (~$66/MWh) and large industrial (~$51/MWh). Management estimates the financial impact (pre-tax) of the proposed ESP to be $54 million in 2012 and $106 million in 2013. The PUCO will issue a decision in 270 days."
American Electric Power's 2010 Earnings In Line; Industrial Recovery Continues
American Electric Power AEP reported fourth-quarter earnings of $0.38 per share and 2010 earnings of $3.03 per share, in line with our expectations. Management affirmed its guidance for ongoing earnings of $3.00-$3.20 per share in 2011. We are reaffirming our fair value estimate and earnings outlook.
Ongoing earnings from utility operations decreased by $22 million during the fourth quarter, reflecting the $43 million rate refund ($28 million net of tax) in Ohio, taxes, and other higher expenses, partially offset by favorable weather conditions, the favorable impact of rate changes, and cost-reduction initiatives.
AEP seeks '11 Ohio rate increases of up to 5 pct.
COLUMBUS, Ohio (AP) — American Electric Power Co. is proposing Ohio electric rate increases of up to about 5 percent for next year.
The Columbus-based utility says the plan it filed with state regulators on Thursday would raise the average monthly bill by about $1.83, or 1.5 percent, for its Columbus Southern Power customers. That unit serves central and southern Ohio.
AEP wants 1.5% rate hike in 2012
American Electric Power Company Inc. is seeking regulatory approval for a new rate plan that should raise the average monthly bill of a residential Central Ohio customer by $1.83 next year, Columbus Business First reports.
The rates were submitted to the Public Utilities Commission of Ohio, which will decide later this year on AEP rates through May 31, 2014. The proposed increase is a far cry from the 15 percent annual hike AEP first requested for 2009-11. Regulators only granted about half of that and later determined that one of AEP's Ohio units turned in an excessive profit in 2009.
AEP seeks small rate increase
If approved, typical bill in central Ohio would rise about $1 a month in 2012
American Electric Power customers would pay an additional 1.5 percent in 2012, 2.7 percent in 2013, and see virtually no increase in the first five months of 2014, according to a rate plan filed this afternoon with state regulators.
That translates to a total monthly bill of about $121 for 2012, up a little more than $1 for a central Ohio household that uses 1,000 kilowatt-hours per month.
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Courtesy : NBC4I , The Ada Herald , Ben Zinga , Morningstar Ca , Bloomberg , Biz Journals & The Columbus Dispatch
