American Electric Power of Ohio filed what is called an Electric Security Plan with the Public Utility Commission of Ohio last Thursday that will potentially increase electric rates up to 15 percent annually over the next three years.
AEP, along with other major electric suppliers to Ohio, submitted its plan to PUCO last Thursday in ordinance with Senate Bill 221, passed by the state Senate in May.
The fact is that coal has doubled in cost in the last year alone
dramatically effecting AEP Ohio's costs Joe Hamrock, AEP Ohio's president and chief operating officer, said in a statement. The tools given to us allow us to phase in those fuel price increases over time.
He added that a portion of the increase will be designated to finding and building more economically friendly means of power.
However, not everyone is willing to embrace this prospective jump in the costs of electricity for Ohioans.
Ryan Lippe of the Office of The Ohio Consumers Council and Resident Utilities Consumer Council said that on the heel of a struggling economy, the organization is very concerned about the cost of living for students and non-students in Athens and throughout Ohio. This is one of the biggest increases the agency has seen in its 31 years of existence.
Dominic Chiodi, an Ohio University graduate student in the college of business, also is not enthused about the possibility of an increase in prices. He said he already has trouble allocating his money for living and social purposes.
It is just strategic planning he said. Just like when the gas prices went up and we started to carpool ' I am sure I will have to make-
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Sandi Hensel
