COLUMBUS (dpa-AFX) - American Electric Power (AEP) announced two decisions from the Ohio Supreme Court upheld capacity cost charges for the company's AEP Ohio utility unit, but rejected a part of AEP Ohio's retail stability rider competitive transition charge. The company expects the net financial result will be minimal.
'Although the Supreme Court's decision rejected one part of the retail stability rider, the Court found that the amount of the energy credit used to reduce our capacity costs was not appropriately determined. We believe that when we present information about our actual capacity costs in the remand proceedings, our cost-based price will increase and yield a small net impact when combined with the deferral reduction from the RSR decision,' said Nicholas Akins, AEP CEO.
Copyright RTT News/dpa-AFX
© 2016 AFX News
