GAHANNA, Ohio, Aug. 28, 2017 /PRNewswire/ -- AEP Ohio, an
American Electric Power (NYSE: AEP) company, has filed a settlement
with the Public Utilities Commission of Ohio (PUCO) addressing the company's Electric
Security Plan (ESP). The agreement addresses key elements of the
ESP such as electric vehicle (EV) charging, renewable generation
and distribution grid reliability through 2024.
"This agreement provides AEP Ohio customers with rate stability
through 2024 and establishes a framework to allow us to support
advanced services, such as EV charging stations, micro grids and
renewable energy, for our customers," said Julie Sloat, AEP Ohio president and chief
operating officer. "Ohio needs
reliable electricity from a diverse mix of resources to continue
growing the economy and to meet the needs and expectations of
customers. The ESP agreement will allow us to continue investing in
the electric grid to provide reliable power and help advance the
new technologies and cleaner energy that our customers want."
AEP Ohio will be able to invest in infrastructure projects, such
as upgrading the electric distribution grid and other measures to
enhance reliability for customers. This settlement also allows AEP
Ohio to develop pilot programs for EV charging station development
and micro grids, funded by a new charge that will end after the
demonstration projects are completed in four years. These pilot
programs will provide data and insights for AEP Ohio, the PUCO and
others interested in expanding these technologies throughout the
state.
A typical residential customer using 1,000 kilowatt-hours per
month would see less than a 50 cent
per-month increase in their bill. Detailed customer impacts will be
available as part of the hearing process.
The EV charging station demonstration project will be created in
conjunction with the Smart Columbus initiative. The project creates
a rebate incentive program for the hardware, network services, and
installation of charging infrastructure for up to 300 level 2
charging stations and 75 DC Fast charging stations. Site owners can
apply to AEP Ohio to recoup a portion of their initial construction
costs. Up to $9.5 million in rebates
will be available under the program, and 10 percent of the stations
will be located in low-income areas.
Rebate amounts would vary depending on the type of station being
built, the availability of the charging station to the general
public and whether the owner is a public or private entity.
Governmental buildings, apartment complexes, workplaces and others
are eligible to apply for rebates.
In addition to EV charging, AEP Ohio will develop micro grid
demonstration projects in areas where critical public service
facilities such as police and fire stations, hospitals and
emergency shelters, can benefit. Micro grids enable customers to
maintain power in the event of an outage.
The settlement also provides support for the PUCO's Power
Forward initiative through a rider that will enable AEP Ohio to
implement future recommendations made by the PUCO.
The agreement furthers AEP Ohio's ability to participate in the
development of wind and solar generation in the state through the
creation of a renewable generation rider. The settlement also
establishes an option for AEP Ohio to seek approval for a renewable
project where some or all of the project's output would be
purchased through a bilateral contract with a retail customer. All
projects will be subject to Commission approval.
The stipulation is subject to review and modification by the
PUCO. A procedural timeline has not been announced.
AEP Ohio delivers electricity to nearly 1.5 million customers of
AEP's subsidiary Ohio Power Co. in Ohio. AEP Ohio is based in Gahanna, Ohio, and is a unit of American
Electric Power. News and information about AEP Ohio can be
found at AEPOhio.com.
American Electric Power, based in Columbus, Ohio, is focused on building a
smarter energy infrastructure and delivering new technologies and
custom energy solutions to our customers. AEP's more than 17,000
employees operate and maintain the nation's largest electricity
transmission system and more than 224,000 miles of distribution
lines to efficiently deliver safe, reliable power to nearly 5.4
million regulated customers in 11 states. AEP also is one of the
nation's largest electricity producers with approximately 33,000
megawatts of diverse generating capacity, including 4,200 megawatts
of renewable energy. AEP's family of companies includes utilities
AEP Ohio, AEP Texas, Appalachian Power (in Virginia and West
Virginia), AEP Appalachian Power (in Tennessee), Indiana Michigan Power, Kentucky
Power, Public Service Company of Oklahoma, and Southwestern Electric Power
Company (in Arkansas, Louisiana and east Texas). AEP also owns AEP Energy, AEP Energy
Partners, AEP OnSite Partners, and AEP Renewables, which provide
innovative competitive energy solutions nationwide.
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SOURCE AEP Ohio