COLUMBUS, Ohio (WTVN)--American Electric Power customers will see a credit on their bills for June, as part of a major settlement.
The credit applies to customers who purchased generation service through their Standard Service Offer any time between August 2012 and May 2015.
In total, $84-million will be refunded through a one-time credit on their bills for June. The specific credit amount for a customer depends on their average usage during that period. For a customer using 1,000 kilowatt-hours per month, the credit amounts to about $60.
“AEP Ohio strives to provide safe and reliable electric service to our customers,” said Julie Sloat, AEP Ohio president and chief operating officer. “Thanks to the advocacy and combined efforts of the Consumers’ Counsel and others involved in the Global Settlement, we were able to reach an agreement that allows us to focus on providing an enhanced customer experience through new technologies, building a smarter grid and improving reliability.”
“Many consumers purchase their electric service from AEP Ohio’s ‘standard service offer’ where they receive the benefit of low market prices on their monthly electric bills,” said Ohio Consumers’ Counsel Bruce Weston. “I am pleased that we and AEP Ohio settled our differences about electricity charges, so that these consumers could receive a refund.”
The settlement that led to the credit was negotiated through the Ohio Consumers Counsel and several other parties in December of 2016. It resolves rate issues in lawsuits and legal challenges in 14 states.