Tuesday, February 28, 2012
COLUMBUS (AP) — An Ohio power company is asking state regulators to approve an increase in a fee it charges customers who switch from the utility’s service to an alternative electricity provider.
Columbus-based American Electric Power warns that without the increase it might face a financial crisis.
The Columbus Dispatch reports that AEP’s request was made in a filing late Monday with the Public Utilities Commission of Ohio.
The request comes a week after the PUCO rejected AEP electric rate increases criticized by schools and small businesses as burdensome.
The company is also asking regulators to set a schedule that would result in new rates in 90 days to ease uncertainty that has shaken shareholders.