State Regulators Spare Customers, Revert To Old AEP Rates

There's some relief for businesses and school districts that have criticized recent electric rate hikes. The Public Utilities Commission of Ohio on Thursday rejected a rate structuring formula instituted this year by Columbus-based American Electric Power. The PUCO ordered AEP to return its rates to levels similar to those in place in December. These rates will remain in place until a new rate plan is adopted. The PUCO chairman says the decision allows regulators to start over and ensure they have a complete picture of any rate proposal to balance the interests of customers and the utility.