Doing the right thing: How the PUCO has delayed AEP Ohio’s transition to competitive market

Atack ads created by First Energy Solutions have led some customers to believe AEP Ohio’s prices have been higher than the competitive market’s for the past decade.

That’s not true. The Public Utilities Commission of Ohio (PUCO) has repeatedly asked AEP Ohio to delay its move to competition. And they had a good reason to do it — it kept electricity prices lower than what they were in the competitive market. It was the right thing to do for our customers.

In this video, AEP Ohio President and COO Pablo Vegas explains how the PUCO has repeatedly asked AEP Ohio to keep its prices stable and lower than market rates. At the same time, utilities with higher rates, such as FirstEnergy, moved to competition and were permitted to recover billions in above-market costs during their transition period.

AEP Ohio is asking for three years to transition to a competitive market. The operating company needs this time to unwind the contractual and legal obligations that we entered into with the approval of the PUCO. A fair transition will ensure strong competition and the lowest rates for all Ohioans.