AEP Ohio’s Electric Security Plan
Updates To Aep Ohio’s Service Offer
AEP Ohio recently filed an Electric Security Plan (ESP) stipulation with the Public Utilities Commission of Ohio on September 6, 2023 that continues our commitment to improve reliability, foster innovation and offer programs to help customers reduce energy usage and save money. The plan would invest more than $1.5 billion in our distribution grid over the four-year ESP term beginning in June 2024. Read more below to learn about our new proposed plan and how it will help improve the reliability of your service.
What Does The Stipulation Mean For Customers?
Proactive Reliability & Grid Resiliency Investments - The agreement will allow AEP Ohio to invest more than $1.5 billion in critical distribution system investments to address aging infrastructure and serve new customers in our growing service territory.
Tree Maintenance Program - Fallen trees and branches are one of the main causes of power outages. Our planned investment will allow us to continue our four-year trim cycle to keep power lines free
of trees and help reduce outages both inside and outside of the right-of-way.
Changes in the Standard Service Offer Bidding Process - In June 2023 AEP Ohio customers who had not chosen an alternative electric supplier, or who were not enrolled in a government aggregation program, experienced a significant increase in their generation rate as a result of the auction process. The ESP also includes enhancements to the Standard Service Offer (SSO) auction process designed to produce more stable SSO generation rates.
Time of Day (Off Peak) EV Charging Rates - Electric vehicle charging is also made more efficient by the settlement, offering EV owners with charging equipment at home the chance to save up to 70% off their distribution charges by charging their vehicles between midnight and 4 a.m.
Smart Thermostat Demand Response Program - Additionally, customers will be eligible to receive rebates if they participate in a smart thermostat and demand response program.
How will this impact my bill?
If approved as filed, customers would see an average monthly increase of less than 1% - or about $1.50 - each year of the ESP term.
The PUCO will consider adopting the agreement and issue a decision. There is no specific timeline for them to take action.