Watchdog: AEP owes customers $156M | ...

Watchdog: AEP owes customers $156M | The Columbus Dispatch

There are 11 comments on the Columbus Dispatch story from Oct 14, 2010, titled Watchdog: AEP owes customers $156M | The Columbus Dispatch. In it, Columbus Dispatch reports that:

American Electric Power has made excessive profit and owes central Ohio customers a refund of up to $156 million, according to a new analysis by the state's advocate for utility customers.

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What a surprise

Columbus, OH

#1 Oct 14, 2010
Wow, AEP having an excessive profit, no..... can't be. I have noticed a sharp increase in my bill from this monopoly of a utility company and would like some answers. Unfortunately though I have absolutely no faith in the Public Utilities Commission of Ohio to fairly analyze AEP's earnings as they end up always siding with the utility companies, hence all our rate hikes approved.

Perhaps I will call them every day to ask about my refund for the money they stole from me. It's probably from those new meters that they installed and said "You won't be charged for those", but oh surprise you were.
Are you kidding me

Columbus, OH

#2 Oct 14, 2010
The government should take them over.

Since: Dec 09

Columbus

#3 Oct 14, 2010
Are you kidding me wrote:
The government should take them over.
Yeah Right...you think the is high now, let that happen, and just wait until see the service that will go along with that.

Even if AEP is forced to refund the money, subtracting their "expenses" from processing the refund will net each customer about $.25, if your lucky.
turn out da lights

Roy, WA

#4 Oct 14, 2010
Even if AEP gives money back to customers...it'll make up for that very

quickly through higher rates ok'd by it's lapdog...PUCO.

"If it sounds to be good to be true...it usually is." Pefect example here.

Ready Kilowatt
Just sayin

Columbus, OH

#5 Oct 14, 2010
I seriously DOUBT anyone will see a refund.
Get Real

Marion, OH

#6 Oct 14, 2010
AEP fried my house and I only got 50 cents on the dollar. Cost me a mint.

That's how they make profit - sticking it to customers.
No Kidding

Zanesville, OH

#7 Oct 14, 2010
Surprised? Not!
CommonSenseOH

Columbus, OH

#8 Oct 14, 2010
This sounds like its the same issue a few months back where AEP made profits of about 21%, but when you only include central Ohio customers, it's really about 15%. The company had extra electricity and sold it on the market to customers outside of their customer base. Doesn't sound like we were charged excessive profits. Selling the extra electricity and making more profit sounds like typical business... on the plus side, that will be less central Ohioans will have to play less for maintenence expenses.
AEP Power

Groveport, OH

#9 Oct 14, 2010
AEP appears to have more inherent power than the President with their supposed worthless oversight by PUCO. Just love the noise we've had ALL summer in our city with their so-called tree experts demolishing tree after tree, either taking them down or leaving them open for infection and wind damage. They could care less about a homeowner's investment or even trying to work with the customer. Yes, got to have power, but they've taken it literally to the extremes.

Since: Aug 09

Columbus, OH

#10 Oct 14, 2010
AEP should give their employees a raise with the profits. That will help stimulate the economy AND it will solve their "excessive profit" problem.
CommonSenseOH

Columbus, OH

#11 Oct 14, 2010
Eugene_C wrote:
AEP should give their employees a raise with the profits. That will help stimulate the economy AND it will solve their "excessive profit" problem.
.

I agree!... unless that money is needed to keep payroll afloat. They just downsized for a reason.

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