Stop AEP Rate Hikes coalition launches amidst skyrocketing utility bills

COLUMBUS, OH -- A coalition of organizations and community members has formed to oppose AEP Ohio’s proposed rate hikes. The group participated in public hearings at the end of May and is now launching a petition, encouraging community members to tell the Public Utilities Commission of Ohio (PUCO) to stop additional charges from hitting utility bills next year.

As part of their electric security plan submitted to PUCO, AEP is asking for a 5% rate hike to begin in 2024 and further increases of 2% each year, for a total increase of nearly 14% by 2030. These proposed increases are on top of AEP Ohio’s highest rate increase since 1999 which went into effect on June 1, 2023, for many customers. 

AEP generates billions in profit, paying its executives tens of millions of dollars in salary, and hundreds of millions in dividends to shareholders, and still asks Ohio ratepayers to pay even more in distribution charges–one component of monthly electricity bills. 

The Stop AEP Rate Hikes coalition demands that the PUCO reject the proposed rate hikes and require AEP to share the burden and not just pass it along to hard-hit Ohio ratepayers. The coalition will deliver the petition to the PUCO ahead of the evidentiary hearing anticipated for August 2023. Anyone can sign the petition. 

The coalition includes Columbus Stand Up, Black Environmental Leaders Association, Sierra Club, 350, and Ohio Environmental Council (needs to be confirmed).

“AEP, a government-created, for-profit monopoly, makes billions for shareholders and their executives by charging hard-working Ohioan's exorbitant electricity rates,” says Morgan Harper with Columbus Stand Up.  “The PUCO needs to stop AEP Ohio’s greed and deny this latest proposed rate hike to maintain fair prices for Ohioans.” 

“A customer cannot make their employer hand over an extra paycheck,” says Margo Wakefield, a resident of Columbus. “A customer cannot decide to make their Social Security check bigger. I as a customer cannot just will myself more income. But, AEP has the power to make a decision to not price gouge its customers.”

“Electricity rate hikes coming at a time of heightened energy costs and ongoing inflation is incredibly harmful and leaves many households choosing between eating or paying utility bills,” says Dion Mensah with Black Environmental Leaders. “The PUCO must hold these corrupt utility companies accountable and reject AEP’s proposed $710 million electric security plan case that would go into effect starting in 2024.”