AEP Ordered To Cut $78M From Ohio Customer Bills

Law360, New York (October 3, 2011, 9:49 PM EDT) -- Ohio's Public Utilities Commission on Monday ordered the Ohio unit of American Electric Power Co. Inc. to cut $78 million from its customers' electricity bills, after the state's top court forced regulators to re-examine the utility's electric security plan.

The $78 million covers "provider-of-last-resort" charges that AEP — the state's default electricity provider — billed customers for providing electricity to areas where competing electricity suppliers had gone out of business. The POLR charge is supposed to cover additional costs AEP incurs in making sure there is...
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