Ohio utility accord cuts AEP rate increase request

COLUMBUS, Ohio (AP) - Ohio regulators on Wednesday approved a
$300 million base-rate increase for American Electric Power to
generate electricity, about half of what the Columbus-based company
had asked for.

Public Utilities Commission of Ohio spokesman Matt Butler says
it's unclear what effect that will have on customers' monthly bills
until AEP comes out with a new rate plan.

In a separate Wednesday agreement, PUCO approved AEP price
increases for power delivery. Columbus Southern Power customers
would see a $2 per month increase while Ohio Power customers would see that up $1.

The pair of agreements are part of a lead up to a more
competitive market. Starting June 2015, power companies will bid on
who gets to generate electricity. Butler says similar auctions in
Ohio have saved customers money.

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