COLUMBUS, Ohio, March 7, 2012 /PRNewswire/ -- The following
statement can be attributed to AEP President and Chief Executive
Officer Nicholas K. Akins:
"Today's decision by the Public Utilities Commission of
Ohio (PUCO) provides an
appropriate short-term solution that fairly balances the interests
of electric consumers with the need to protect the financial health
of AEP Ohio. We recognize, however, that this is the first step in
a longer process of addressing the transition to a fully
competitive market that is structured equitably for all market
participants and provides benefits for consumers. The transition
must be done in a manner that doesn't unduly harm or unfairly
enrich any individual utility or retail energy provider. We're
committed to working to achieve a fair and transparent regulatory
outcome in the months ahead that provides a reasonable transition
to full competition while recognizing the commitments AEP has made
on behalf of its customers."
American Electric Power is one of the largest electric utilities
in the United States, delivering
electricity to more than 5 million customers in 11 states. AEP
ranks among the nation's largest generators of electricity, owning
nearly 39,000 megawatts of generating capacity in the U.S. AEP also
owns the nation's largest electricity transmission system, a nearly
39,000-mile network that includes more 765-kilovolt extra-high
voltage transmission lines than all other U.S. transmission systems
combined. AEP's transmission system directly or indirectly serves
about 10 percent of the electricity demand in the Eastern
Interconnection, the interconnected transmission system that covers
38 eastern and central U.S. states and eastern Canada, and approximately 11 percent of the
electricity demand in ERCOT, the transmission system that covers
much of Texas. AEP's utility units
operate as 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 and north Texas). AEP's headquarters are in Columbus, Ohio. News releases and other
information about AEP can be found at www.aep.com.
SOURCE American Electric Power