AEP plan to save residents money

TIFFIN --- Last week, the Public Utilities Commission of Ohio (PUCO) approved a settlement agreement that authorized AEP Ohio to implement an electric security plan. The A-T reached out to Tiffin city administrator Nick Dutro to learn if this agreement will affect Tiffin residents. What is an electric security plan? According to the Ohio Consumers' Council, electric security plans are "used to determine the pricing and supply of generation for customers who remain on the standard offer rate with the distribution electric utility." These plans can also include "investments in the distribution system, grid modernization, economic development and job retention initiatives." "The settlement we approve today, supported by a wide range of consumer, business, and environmental organizations, will serve to improve the service quality and reliability of the grid across AEP Ohio's service territory and will reduce costs for AEP SSO customers," stated PUCO Chair Jenifer French. "Incentivizing off-peak electric vehicle charging, smart thermostat programs, and customer and community assistance programs are exciting opportunities for Ohio consumers." What does the plan do? According to the commission, residential customers who use 1,000kWh and are enrolled in AEP's "standard service offer" or "default generation rate" will see a reduction of about $30 in their monthly bill, which is due to "falling prices for electricity." The plan will also start offering new rates to "incentivize off-peak charging for electric vehicles" and will implement a "smart thermostat demand response and incentive program." As part of the plan, AEP Ohio will put a low-income energy efficiency program into place. The program will help eligible customers with "home weatherization, lighting, water heating, heat pumps and refrigeration." According to AEP's website, the company will also continue its Neighbor-to-Neighbor Program, which assists eligible customers with a utility assistance grant that is directly applied to their bill. According to a release from PUCO, during the four-year plan, which begins June 1, 2024, AEP Ohio will "continue to source electricity for its customers through a competitive bidding process." Who will be impacted? "Tiffin and a majority of Seneca County residents are served by AEP," said Dutro. "The city of Tiffin did not take an active role in pushing for this security plan, but we are glad to see there could be some assistance to Tiffin residents." The city is also a member of NOPEC, he added. "Citizens may be interested in seeing if NOPEC can offer a lower rate as their natural gas or electric supplier." Visit www.nopec.org for more information.