Ohio AEP customers will pay more

COLUMBUS (AP) — A typical American Electric Power customer will soon be paying $2 to $3 more per month to the help the company repay fuel costs.

Ohio regulators approved the repayment plan Wednesday. AEP will pay back $642 millioin fuel costs that have stacked up over the past three years.

The Columbus Dispatch reports AEP will repay the money over a seven-year schedule.

The action begins to resolve issues from the Ohio Public Utilities Commission’s 2009 approval of a three-year rate plan.

The additional charge to customers could start as soon as next month.

AEP has about 1.5 million customers in Ohio.