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Business & EconomyAEP and state regulators agree on counter-settlement for utility rates for tech giants' data centersAEP, the PUCO staff and the Ohio Consumers Counsel want data center companies to pay 85% of the electricity usage. The companies wanted to pay 75% of the cost.
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A deal between AEP Ohio and Intel to have AEP Ohio's customers foot the $95-million bill for the new electric infrastructure Intel needs is gaining more support.
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Intel and AEP Ohio have come to an arrangement for how the chip manufacturer will pay the electric company for services. The agreement relies on AEP Ohio's customers to foot the bill.
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The Public Utility Commission of Ohio approved new reliability standards for AEP Ohio. The standards will require the company to reduce power outages, instead of allowing them to increase as the company initially requested.
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Business & EconomyAmazon wants a discount on the massive amount of electricity their new data centers will use in central Ohio over the next decade, according to a Business Insider article.
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Business & EconomyOhio’s electric customers were charged more than $100 million to subsidize two unprofitable coal plants in 2020.
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Business & EconomyElectric customers of AEP Ohio will pay more in transmission costs this year. Residential customers will pay about $10 more a month in transmission costs.
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Health, Science & EnvironmentIt’s almost been four years since Columbus ushered in a program that promised lower energy prices using clean energy generated in Ohio.
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AEP said it doesn't expect any significant impact on the company's operations, cash flows or financial condition.
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Earlier this month, AEP Ohio announced plans for another rate increase that the company said will pay for reliability-focused improvements to the electric grid. Under the plan, rates will go up about $1.50 a month or an average annual increase of less than 1 percent.