Public Utilities Commission of Ohio approves AEP Ohio Electric Security Plan
The Public Utilities Commission of Ohio (PUCO) approved Wednesday AEP Ohio’s Electric Security Plan (ESP).
The plan is designed to expand access to electric vehicle (EV) charging and renewable generation, increase the use of smart technologies and enhance distribution grid reliability.
“Our customers want reliability and access to advanced technologies, such as EV charging stations, microgrids, and renewable energy resources,” Julie Sloat, AEP Ohio president and chief operating officer, said. “Our plan allows us to bring these services, which also will support economic development in Ohio, to customers across the state. The ESP enables us to continue our investments in the electric grid to provide reliable power and help advance the new technologies and cleaner energy that our customers want.”
The plan allows the company to expand the use of smart technologies such as microgrids and automated power routing equipment. It also creates a rebate incentive program for the hardware, network services, and installation of charging infrastructure for up to 300 level two charging stations and 75 DC Fast charging stations. The plan also enables AEP Ohio to continue its vegetation management program.
The ESP establishes a method for AEP Ohio to request approval from PUCO for the development of new renewable resources and allows the company to purchase some, or all, of that power through bilateral contracts with customers. AEP Ohio has committed to developing 400 megawatts (MW) of solar and 500 MW of wind power in Ohio.
“Companies are increasingly evaluating the availability of renewable energy when they are looking to locate or expand their business,” Sloat said. “Having access to renewable resources helps make Ohio more attractive to businesses.”
The ESP provides customers rate stability through 2024. More than a dozen groups have signed onto the agreement.
A typical residential customer using 1,000 kilowatt-hours per month will see an average bill increase of approximately 50 cents per month as a result of the ESP. The Smart City Rider, a new charge that will end in four years, supports the EV charging program and microgrid projects.
ESP does not directly address the impacts of the recent federal tax reform legislation. Changes due to these tax savings will be addressed through a separate process.
