Article Presented By Classic Brands…
The President of American Electric Power Company has submitted an open letter to customers, informing them of higher bills this summer, due to higher costs the company is seeing to provide service.
President Marc Reitter wrote the following:
“I’m reaching out to share information on upcoming changes many of you will see on your electric bills soon. A combination of higher generation supply prices and increased energy use, especially during the summer months, will lead to increases in electric bills for many customers beginning in June. We understand an increase in your bill — no matter how big or small — is not welcome news. Unfortunately, this change is out of our control and was determined by recent auctions to secure the energy supply needed to serve our customers. This increase impacts customers who have not chosen a competitive electric supplier. If you choose to receive your generation supply from AEP Ohio, an external competitive auction process is used. AEP Ohio will not profit from this rate change in any way and will pass through the exact cost of generation supply to customers dollar for dollar. You can read the details related to the upcoming bill changes and the factors outside of our control at this link. With the impacts of inflation and rising costs across many industries, we understand some customers may be experiencing financial hardship. We want to share the latest information and available resources to help you prepare before new rates go into effect: Please reach out to our team to discuss options that may be available to you if you’re struggling financially. Learn more about our payment assistance options to get more time to pay your bill, set up a payment plan, or see if you qualify for community programs that might help reduce your payment. Enroll in our Average Monthly Payment Plan to spread the cost of cooling and heating your home over the entire year, helping balance your electric bills and making it easier to budget.Consider implementing these energy savings tips in your home.Customers can compare current offers from electric generation suppliers at energychoice.ohio.gov.I wanted to share this news with you directly as part of our continued commitment to being transparent with our customers. We will keep you updated as summer approaches so you can best prepare.”
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