AEP agreement axes 2011 rate increase

AEP agreement axes 2011 rate increase

There are 80 comments on the DispatchPolitics story from Dec 1, 2010, titled AEP agreement axes 2011 rate increase. In it, DispatchPolitics reports that:

Without a rate freeze, AEP could raise rates up to 6 percent next year, which translates to $78 annually for each household.

Join the discussion below, or Read more at DispatchPolitics.

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Mark

Pickerington, OH

#1 Dec 1, 2010
21% Return in a recession, wow. Tells me more competition is needed and the commision memebers need to be fired.
Makemwork

Nashport, OH

#2 Dec 1, 2010
"We believe this resolution strikes a critical balance for all parties,"

Translation = We made out like thieves and are happy to keep your money, so long suckers!

One can make some nice returns on $114M which they have now had making interest for almost a year. "Bird in hand is better than two in the bush."

Also they are still pocketing $24 per customer just in the amounts listed in the article ($78 in increase for next year vs a payout this year of $102). Ain't life great!
Jolynn

Norwich, OH

#3 Dec 1, 2010
So they rip us off and are allowed to get away with it as long as they agree not to rip us off next year.

Merry Christmas!
freeze

Columbus, OH

#4 Dec 1, 2010
yeah, all is well. Freeze the rates. AEP still nets 24 bucks a household in this deal. PLUS, you know the rates only frozen for one year. I'd rather have my 102 dollars so I can go spend it rather than see a 6.50 a month reduction in electric bill.

so crooked.
My Opinion

Columbus, OH

#5 Dec 1, 2010
Why does PUCO even exist? They should just call themselves AEP, then they'd be finally telling the truth to the consumers in Ohio. Again, AEP is screwing the customer. Got to love Capitalism and Greed, it's alive and well in AEP.
TOM

Palo Alto, CA

#6 Dec 1, 2010
So they stole from us but now they are "agreeing" not to raise our prices so that they don't have to pay back? Unbelievable. It's like me stealing your car and then telling you that if I get to keep it then I won't kill you...but if I have to return it then I will kill you.
Phil

Columbus, OH

#7 Dec 1, 2010
I want my $102 back. NOW!
PUCO

Columbus, OH

#8 Dec 1, 2010
TOM wrote:
So they stole from us but now they are "agreeing" not to raise our prices so that they don't have to pay back? Unbelievable. It's like me stealing your car and then telling you that if I get to keep it then I won't kill you...but if I have to return it then I will kill you.
Nice analogy...totally stupid.
Bob

Washington Court House, OH

#9 Dec 1, 2010
Is anyone really surprised by this "decision"?
When this story broke anyone with half a brain knew that PUCO would bow down to AEP and let them slide.....
Oh sure, AEP is giving up their option to raise rates next year, BFD!, look at their profits this year, at the current rate. They gave up nothing.
If their profits don't top 20% this year or next, they will simply go to PUCO, ask for 8% or more raise in 2011 and dance happily to the bank.
I Know

Columbus, OH

#10 Dec 1, 2010
AEP is the epitome of corporate greed. After being cited for excessive profits, they were still planning on raising rates. Corporate America has no morals. "Fair profit" is not enough. They want to squeeze out every penny they can.
Sackttack

Reading, PA

#11 Dec 1, 2010
PUCO with Dublin, OH set as location. That alone says it all.
common sense

Columbus, OH

#12 Dec 1, 2010
This is robbery.
1 million for low income?
What about the people who trusted AEP and OVERPAID? None of these people care about people who actually PAY their bills.
The PUCO is a crooked org.
Dirk

Columbus, OH

#13 Dec 1, 2010
wow @ this.
Domelad40

Dublin, OH

#14 Dec 1, 2010
Let me see if I get this ? AEP illegally took $ 102 from every household and we are supposed to be happy that they can't raise prices $ 78. And they made a 21% return Based on those numbers you would think their stock price would be better. It seems to me that the shareholders are really the ones being screwed by the poor management at AEP
The Truthteller

United States

#15 Dec 1, 2010
Be aware, folks, a facet of the SmartGrid concept is the regulation of customer load to defer the construction of new facilities. What that means is, your utility company determines the times that your heavy appiances can operate without a hefty surcharge. Some us will have to do laundry on midnite shift or pay the "fine". If that's what people want, then fine. Just get all the facts beforehand and remember that there's no free lunch. ALL good things, whether fact or fiction, come with a price tag attached.
Common

Westerville, OH

#17 Dec 1, 2010
AEP's stock price is low because investors do not believe that AEP is making enough return on its investment. Investors are concerned regulators will not allow AEP adequate returns to cover their captitol investments that are required by law. Decisions like this will like lower the stock price even further
Think Harder

Columbus, OH

#18 Dec 1, 2010
What a bunch of winers! If you don't want to pay as much for electric, stop using so much of it. You're probably the same people who leave all of your lights on, never turn off your computer, and keep the heat in your house at 75 degrees. If you're really concerned about their greed, get some batteries, solar panels, and wind turbines. I'm sick of hearing you all complain about things that YOU can control.
Lorraine

Bellefontaine, OH

#20 Dec 1, 2010
Good grief! AEP gets an early present. The previously allowed % rate increase should be cut in half for residential consumers and AEP would still have a sizeable profit based on the figures stated. As it stands with this agreement, we still will be overpaying. I do NOT have an all electric home; I hang clothes to dry, do not use my oven at all, do not put up Christmas decorations, use lights only in the room I am in, have a gas water heater and furnace, installed a new energy efficient air conditioner, air dry my dishes (dishwasher used 1/wk) and I am a retired 1 person household. I was paying $98/mos on the budget. At settle up month, I was billed for an additional $347! My budget was raised to $113/mos!!!! Would someone please explain to me just how my bill could be soooo high when I have tried to save in every way I can?
The OH Life

Columbus, OH

#21 Dec 1, 2010
Mark wrote:
21% Return in a recession, wow. Tells me more competition is needed and the commision memebers need to be fired.
The company didn't make a 21% return from the people in central Ohio, they actually made around 13%, which is in line with all other utilities. The dispatch had an artlice about this a few months back saying the excessive profit came from selling extra electricity to other utilities. I don't see how a company can be penalized for selling extra of what it produces to make more profit... especially if that extra profit comes from outside it's territory.
If the company did bring in 21% from its central Ohio territory, the company would have given that back and if not, the PUCO would force AEP to... but since the company made extra profit outside of Central Ohio, it had to be litigated or arbitrated. In this case an agreement was settled.
I'm a little disappointed in the dispatch, I feel the reporters/writers intentionally left info out to paint a wrong picture. AEP didn't make excessive profit from Central Ohio, where was that fact in this article?
Gaia is dying

Winchester, KY

#22 Dec 1, 2010
The OH Life wrote:
<quoted text>
I don't see how a company can be penalized for selling extra of what it produces to make more profit... especially if that extra profit comes from outside it's territory.
But all that CO2 went into Central Ohio, further killing the Earth around here. AEP's profit outside this area went at the expense of further environmental degredation here. Same on you for ignoring hidden costs and shame on AEP for profiting on the Earth's dying corpse.

Electricity rationing NOW! No Air Conditioning! We need to save the Earth! Electricity rationing NOW! No Air Conditioning! We need to save the Earth! Electricity rationing NOW! No Air Conditioning! We need to save the Earth! Electricity rationing NOW! No Air Conditioning! We need to save the Earth! Electricity rationing NOW! No Air Conditioning! We need to save the Earth! Electricity rationing NOW! No Air Conditioning! We need to save the Earth! Electricity rationing NOW! No Air Conditioning! We need to save the Earth! Electricity rationing NOW! No Air Conditioning! We need to save the Earth! Electricity rationing NOW! No Air Conditioning! We need to save the Earth! Electricity rationing NOW! No Air Conditioning! We need to save the Earth! Electricity rationing NOW! No Air Conditioning! We need to save the Earth! Electricity rationing NOW! No Air Conditioning! We need to save the Earth! Electricity rationing NOW! No Air Conditioning! We need to save the Earth! Electricity rationing NOW! No Air Conditioning! We need to save the Earth! Electricity rationing NOW! No Air Conditioning! We need to save the Earth! Electricity rationing NOW! No Air Conditioning! We need to save the Earth! Electricity rationing NOW! No Air Conditioning! We need to save the Earth!

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