American Electric Power Asks For Rate Hike

American Electric Power today proposes higher electricity bills beginning this summer. Spokesman Jeff Rennie says the utility needs a five percent boost in rates mostly to cover its distribution costs. The new rate proposal comes after state regulators discarded several charges that resulted in high electric bills to businesses, churches, and schools. Under the plan, residential customers would pay $7.40  more per month. The plan also restores a discount for all-electric homes. AEP has 1,500,000 million Ohio customers in 61 counties.