The Federal Energy Regulatory Commission has overruled PUCO’s decision to approve AEP’s and FE’s request of passing on future expenses related to aging coal plants to rate payers, and now AEP and FE want to push for re-regulation of Ohio’s energy markets or sell their Ohio plants as a last ditch end-run. AEP is even trying to push back rates to terms 18 months ago, trying to get what they can from the Ohio rate paying public.
It is the duty of the Federal Energy Regulatory Commission to protect the public from an “inappropriate transfer of benefits from customers (captive) to shareholders of a public utility franchise.” Because FE and AEP customers cannot avoid the surcharges they are being billed, they are in essence “captive customers”.
So AEP and FE will continue to do all they can to minimize their financial exposure concerning their own uncompetitive coal fired power plants up to and including selling them off and in the meantime, Ohio energy consumers have to keep guessing what the future holds for energy bills in Ohio now and in the future. Peak 5 Advisors keeps apprised of the energy markets daily fluctuations. We make it our business to know what the energy markets are doing so we can find the best prices for our customers. Call or email Peak 5 Advisors today.