(OHIO – December 14, 2015) In an ongoing effort to subsidize four of its outdated coal-fired power plants, American Electric Power (AEP) today filed a settlement with Ohio regulators. The new proposal would guarantee continued pollution, raise rates for Ohioans by roughly $2 billion, and represent a move from a competitive electricity market to monopoly control.
“At a time when world leaders have pledged to stand together to fight carbon pollution with the historic Paris Agreement, AEP is urging Ohio to move backward and asking Ohioans to foot the bill. AEP and its allies will tout the utility’s commitment to close coal plants 15 years from now with this proposed subsidy, even though economics would force its aging, inefficient coal plants to close much sooner. Ohio regulators should foster a fair energy marketplace and reject AEP’s bailout.”
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