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Hello. My name is Pablo Vegas. I'm the president and chief operating officer for AEP Ohio.
As you're aware, AEP Ohio has filed a rate case at the Public Utilities Commission of
Ohio. I'd like to explain to you as our customers how this rate case affects you.
There's really two key issues at stake here: One is the rates that you're going to pay
and two is a transition to a competitive electric supply market.
On the rates, most of our customers in the first year are going to see a small increase
in the first year of about 5 percent. In the second year, we anticipate seeing a 4 percent
increase. And in the third year, almost no increase at all or maybe a quarter of a percent
increase.
So for an average customers who uses a normal amount of electricity during a month, they
will see about a 9 percent increase over the course of three years -- this three-year rate
period.
The second issue is about transitioning to a competitive electric supply market. What
that means is that you as a customer, you're now going to have choices in terms of who
you can purchase your electric generation from.
You're going to get offers. You're going to need to understand what the rates are, what
the terms are as you would any other utility that you would purchase.
If you have any questions about this, we want to be here to help answer those questions
and offer any information that makes this transition easier for you.
You may have also seen recently advertisements focused on fairness and competition in the
electric market in Ohio. What's at stake is that AEP Ohio transitions to competition,
we need to be able to recover our cost for the generation that we have available for
you, our customers, during this transition to competition.
That's what's at stake in keeping AEP Ohio sustainable during this period in order to
give you, our customers, more choice down the road.
So again, if you have any questions, please you can reach out to us on Facebook, you can
reach out to us on Twitter, or you can come to our website at AEPOhio.com and get more
information about what's going on with this rate case and submit any questions you may
have.
Thank you very much.