AEP Ohio Announces Huge Hike for Most of its Customers
The energy giant is raising rates nearly 30 percent in May
AEP Ohio customers will see a significant price increase in their electric bill starting in the summer.
The power company posted on its website and emailed customers saying "a combination of higher generation supply prices and increased energy use, especially during the summer months, will lead to increases in electric bills for many customers beginning in June."
The average customer using 1,000 kilowatt-hours of energy each month can expect their bill to increase 28 percent from about $155 a month to $198 a month. AEP Ohio alleges global demand, global supply chain issues, economic uncertainty and the war in Ukraine on having an impact on the cost to produce electricity. The company noted it is a wires company and it does not generate the power; it is just responsible for delivering the power.
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