Grid modernization plan seeks $220M investment into AEP Ohio smart grid
AEP Ohio filed a settlement regarding its grid modernization expansion plan this week with the Public Utilities Commission of Ohio (PUCO), setting the stage for a seven-year, $220 million investment into smart grid equipment across the company’s rural service territory.
Through an agreement with PUCO staff, the Ohio Consumers’ Counsel, industrial user groups, the Ohio Hospital Association, competitive retail electric suppliers, the Smart Thermostat Coalition and Mission:data, AEP Ohio laid out plans to increase access to technologies like smart meters, real-time energy usage data, and distribution system reliability enhancements. The goal is to leave no customers behind, no matter their environment.
“For a decade, customers in parts have seen the benefits of the first two phases of our smart grid rollout, and today’s settlement means that all of our customers will have access to a more efficient, and smarter electric grid,” AEP Ohio President and COO Marc Reitter said. “We know that our customers rely on the power we deliver, and the improvements we are making gives them more control and can help them save money.”
To pay for the program, electricity billing will go up — the average residential customer can expect an increase of about $0.33 per month for the program. Still, these customers could be eligible for energy-savings programs, such as rebates for installing qualifying smart thermostats, to help reduce costs. In return, approximately 475,000 additional smart meters will be installed across Ohio.
