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AEP Electric Rates

AEP provides Internet access to its state jurisdictional tariff documents for the convenience of its customers. AEP makes no warranty that a particular tariff/schedule chosen by a customer is available to or suitable for that customer. Customers are encouraged to contact AEP directly to ensure the applicability of a desired tariff/schedule for their service requirements.

AEP Ohio

AEP Ohio recently filed an Electric Security Plan (ESP) stipulation with the Public Utilities Commission of Ohio on September 6, 2023, that continues our commitment to improving reliability, fostering innovation, and offering programs to help customers reduce energy usage and save money. The plan would invest more than $1.5 billion in our distribution grid over the four-year ESP term beginning in June 2024.

AEP Texas

There was a rate increase on the transmission charge or TCRF for billings on or after September 1, 2023. This increase applies only to the transmission charge. The TCRF increase was due to increased wholesale transmission rates/expenses.

Appalachian Power (APCO)

On September 13, the Public Service Commission of West Virginia (PSC) issued an order approving an $88.8 million rate increase, effective immediately, for the portion of the 2023 Expanded Net Energy Cost (ENEC) request intended to bring fuel cost and revenue in alignment.

  • The order does not address the accumulated ENEC under-recovery balance of nearly $553 million from the three open ENEC cases (2021, 2022, and 2023).
    • All three ENEC cases remain open until the PSC issues final orders.
  • In our April 28, 2023, ENEC case filing, we proposed a securitization option to address under-recovery amounts and mitigate any rate impacts. If adopted as proposed, that option is expected to have minimal or no rate impact beyond the $88.8 million ENEC revenue adjustment ordered on September 13.
  • The anticipated impacts of the recent ENEC increase per Tariff Rate in APCO WV, effective September 13th, 2023, is between 4-7%.

APCO VA fuel factor increased from $0.023/kWh to $0.05562/kWh effective January 1, 2023.

Earlier this year, Appalachian Power petitioned the Virginia State Corporation Commission to increase the Transmission Rate Adjustment Clause (T-RAC) from $368 million to $413 million, a $45 million increase. The T-RAC is the portion of a customer's bill that recovers transmission services, fees, and new construction costs.

Appalachian Power and Wheeling Power filed a request in October 2023 with the Public Service Commission of West Virginia (PSC) to update current rates for the Environmental Compliance Surcharge (ECS). The $37.2m ECS would provide for the recovery of equipment and installation costs associated with complying with the U.S. Environmental Protection Agency (EPA) rules on Coal Combustion Residuals (CCR) and Effluent Limitation Guidelines (ELG).

Indiana Michigan Power (I&M)

The Fuel Cost Adjustment Rider was revised to reflect the November 2023 through April 2024 fuel adjustment clause factor of ($0.000185)/kWh under the IURC's Order issued on October 25, 2023, in Cause No. 38702-FAC 91. This factor is effective with the first billing cycle in November (October 27, 2023). The revised tariffs are available in the rates link below.

The Power Supply Recovery Factor for Michigan changed from 6.23 to 5.08 mills per kWh in January 2023. This change decreases standard service large power customer's overall bills from 2% to 2.5%.

Kentucky Power

Kentucky Power filed a rate case on 7/14/23. The PSC will conduct a thorough review over the next several months. Any rate changes approved by the PSC will likely take effect on or after January 1, 2024. After the review, we anticipate increased rates for our residential, commercial, and industrial customers. On November 20, Kentucky Power filed a settlement agreement with the Kentucky Public Service Commission today in its ongoing base rate review. The settlement is subject to review and approval by the Kentucky Public Service Commission.

Kentucky Power worked with the Kentucky General Assembly to pass Senate Bill 192, which allows utilities in certain circumstances to utilize a financial mechanism known as securitization to recover costs associated with the retirement of power plants and severe weather events. While we won't know how much securitization saves customers until executed, it can minimize the rate impact for our customers and help shift financial burdens for the company. For more info, please visit the rates link below.

Public Service Company of Oklahoma (PSO)

Recovery of February 2021 storm costs through a rider will cause customers to see an increase of approximately 2% - 3% spread over 20 years.

Interim rates are temporarily in place for the rate case application filed with the OCC on November 22, 2022. With this, commercial and industrial customers will see a 2-3% increase in the June 2023 billing cycle.

PSO filed and has received approval for updated fuel rates with the Oklahoma Corporation Commission, effective January 2024. The total bill decreases for this change range from 14 - 21% for commercial and industrial customers.

The Oklahoma Corporation Commission (OCC) approved the Public Service Company of Oklahoma's (PSO) Fuel-Free Power Plan (FFPP), allowing PSO to add 995.5 megawatts of energy to its generation mix on May 5, 2023. As a result, PSO customers will see their monthly bills go down starting in early 2026.

Southwestern Electric Power Company (SWEPCO)

SWEPCO filed an adjustment to the Energy Cost Recovery (ECR) rate in March with the Arkansas Public Service Commission (APSC) that will reduce the fuel factor rate by approximately $0.03/kWh. This filing was approved and is effective for the first billing cycle of April 2023.

In September 2023, the Louisiana Public Service Commission (LPSC) approved SWEPCO's request to complete its Advanced Metering System deployment plan. The LPSC approved an AMS surcharge for customers that is effective beginning on September 28, 2023. The monthly surcharge for commercial and industrial rate classes is $6.40 and expires after four years. Deployment of smart meters will continue across the state through 2025.

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