Curator Melissa Wolfe talks about the inspiration we can all take away from the Columbus Museum of Arts newest exhibition showcasing the work of home town hero George Bellows. George Bellows and the American Experience through January 4, 2014. This exhibition follows on the heels of a major retrospective of the artist organized by the [...]
AEP Blames Summer Storms, Competition For Down Profits
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Columbus-based American Electric Power says company profits fell by nearly 50 percent in the third quarter.
The electric utility reports July-through-September profits of $487 million. That’s down from $928 the same quarter last year.
A company press release lists several factors, including increased competition that’s led to customers switching carriers. The company says the number of customers in AEP’s traditional service area now using other carriers increased from 34 percent to 42 percent during the third quarter.
The company also cited costs associated with heavy summer thunderstorms that led to wide-spread power outages.
The drop in profits would have been worse, but the company was helped when regulators approved rate increases in several states, including Ohio.