Watchdog: AEP owes customers $156M

Watchdog: AEP owes customers $156M

There are 40 comments on the DispatchPolitics story from Oct 14, 2010, titled Watchdog: AEP owes customers $156M. In it, DispatchPolitics 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.

Join the discussion below, or Read more at DispatchPolitics.

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cmon

Columbus, OH

#1 Oct 14, 2010
Well, if there were more choices to pick from...maybe there wouldn't be a debate of excessive profits because a "free" market would promote competitive pricing...not just what AEP wants to charge, and then tack on additional bucks when wind storms etc occur. They should get some sort of insurance plan :)
Ohio Patriot

Thornville, OH

#2 Oct 14, 2010
I am glad that the Consumer's Counsel issued this report. I am not surprised that AEP would game the system as they are so very powerful in the legislature. But the utilities like AEP run the PUCO (as happens under both parties) - so I doubt if the excessive profits will ever make it back to the public. Our political process in Ohio is just totally rotten with the Statehouse lobbies running the whole show and the bigger government agencies (PUCO, EPA, ODNR, Development, Insurance, ODA and the courts) being just their stooges

Since: Aug 09

Columbus, OH

#3 Oct 14, 2010
All they have to do is re-invest that money into buidling some windmiills or solar or something and take it off the profit sheet.

Since: Aug 09

Columbus, OH

#4 Oct 14, 2010
We should have Municipal Power in Central Ohio that can buy electricity by competitive bid, like they do in Cleveland.
Just sayin

Columbus, OH

#5 Oct 14, 2010
Does anybody honestly THINK AEP will give a refund to their customers?

Since: Aug 09

Columbus, OH

#6 Oct 14, 2010
Just sayin wrote:
Does anybody honestly THINK AEP will give a refund to their customers?
Maybe AEP should give their employees a raise with the profits. That will help stimulate the economy AND it will solve their "excessive profit" problem.

Since: Aug 09

Columbus, OH

#7 Oct 14, 2010
And I don't mean give the executives a raise. They need to give all their rank-and-file workers the raises.
Jim

Hilliard, OH

#8 Oct 14, 2010
Eugene_C wrote:
We should have Municipal Power in Central Ohio that can buy electricity by competitive bid, like they do in Cleveland.
Doesn't the City of Columbus have it already?

Since: Jun 10

Canal Winchester, OH

#9 Oct 14, 2010
AEP is nuts.
Their service is nuts.
Their attitude is nuts.
Nuts.
Bewildered

Newark, OH

#10 Oct 14, 2010
All I know is, my electricity bill doubled this year and my usage did not increase!
Jakey

Columbus, OH

#11 Oct 14, 2010
Eugene_C wrote:
We should have Municipal Power in Central Ohio that can buy electricity by competitive bid, like they do in Cleveland.
Governor Strickland should have ley AEP's customers go to market. Instead they are all paying higher rates than before and much higher than the market.
Jakey

Columbus, OH

#12 Oct 14, 2010
Bewildered wrote:
All I know is, my electricity bill doubled this year and my usage did not increase!
Thank the Governor and his PUCO.
risk man

Columbus, OH

#13 Oct 14, 2010
for anyone who thinks the PUCO will do something to AEP, I have some nice choice property in the Gulf to sell you.
the truth is a whackjob

Westerville, OH

#14 Oct 14, 2010
Jakey wrote:
<quoted text>
Governor Strickland should have ley AEP's customers go to market. Instead they are all paying higher rates than before and much higher than the market.
First, I am not an AEP employee. I am not connected to the company.

However, I would like to point out that AEP has some of the CHEAPEST power rates in the country. Go to Florida, California, and New York. Your electric bills are nothing compared to what you would pay in those states.

If you are waiting for AEP to refund the amount, keep waiting. Even if they did cut you a check, you would get maybe $1.52. AEP had $20 billion in revenues last year. The $150 million is a pimple. Most of that came from major power users, such as companies. Take your $150 electric bill, multiply it by $150m/$20b. It actually comes to $1.12. Dont spend it all in one place.
Sterling Silver

Columbus, OH

#15 Oct 14, 2010
Bewildered wrote:
All I know is, my electricity bill doubled this year and my usage did not increase!
So you must not be an AEP customer, because that was impossible.
Robin da Hood

Walbridge, OH

#16 Oct 14, 2010
AEP makes a statement by pulling their name from the chamber of commerce - yet it is okay for them to zap everyone by over charging for a product that everyone depends on. Looks like and smells like B.O. tactics.

It would have been a great P.R. move if AEP would have been pro-active and said hey world here is a refund for all the over charges we pocketed when storms knocked out your power - for weeks during the middle of winter - LOL!

No wonder seniors use candles!
Milhouse

Columbus, OH

#17 Oct 14, 2010
Jim wrote:
<quoted text>Doesn't the City of Columbus have it already?
In limited areas, yes, but it's not practical for most people. They only allow you so much per month at the discounted rate and if you go over the rate goes up because they don't have that much extra power.
Milhouse

Columbus, OH

#18 Oct 14, 2010
Eugene_C wrote:
And I don't mean give the executives a raise. They need to give all their rank-and-file workers the raises.
Hey, Eugene, I didn't know you worked for AEP!
Observer

Miami Beach, FL

#19 Oct 14, 2010
Each and every AEP customer needs to see a credit on their bill period. And the ones that are no longer an AEP Customer should be able to go to a list and see if they owed money by AEP.
ramseyjames

Bellefontaine, OH

#20 Oct 14, 2010
risk man wrote:
for anyone who thinks the PUCO will do something to AEP, I have some nice choice property in the Gulf to sell you.
I have submitted complaints to PUCO twice this year > results > I have heard absolutely NOTHING from them! This is about the most worthless bunch of political hacks in Ohio!

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