Following the recent procurement auctions, we have been informed that AES’s generation portion of the residential rate is expected to decrease by nearly 20%. This new generation rate will be in effect beginning June 1, 2024, and run until May 31, 2025.
Read MoreEffective Monday, April 1, 2024, AEP Ohio raised the largest component of the transmission portion of their residential rate. As a result, residential rates will increase by about $10 per month for the average consumer (1,000 kWh/month).
This news follows the expectation that the generation portion of AEP Ohio’s rates will decrease by 20%—30% following the spring auction process. This decrease will take effect in June and should provide some relief to residential summer bills despite the transmission rate increase announcement.
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