New Utility Plan to Advance Ohio’s Clean Energy Economy

(COLUMBUS, OH) The Public Utilities Commission of Ohio today approved AEP’s Electric Security Plan (ESP), which includes numerous developments that will significantly enhance and diversify Ohio’s clean energy economy. The deal, which Environmental Defense Fund and the Ohio Environmental Council signed on to, will avoid unnecessary electricity bill increases, unlock millions in funding, provide customers with more clean energy options, and lower pollution.

The ESP locks in electricity rates for AEP’s customers through 2024 and keeps fixed charges low for residential customers. It also provides over $10 million in funds for an electric vehicle charging station rebate program, as well as over $10 million for microgrid projects to increase grid reliability and resilience. The deal paves the way for additional future clean energy investments to carry out initiatives such as PowerForward, the state’s grid modernization effort, and the Smart City program, which is aimed at implementing smart transportation systems in the City of Columbus. Finally, the agreement will help Ohio transition away from coal, by requiring AEP to build or enter into power purchase agreements for 900 megawatts of solar and wind projects, which could power up to 200,000 homes per year.

“This ambitious agreement is a big boost to innovation and the clean energy economy. Ohioans can expect more customer choice and less pollution, without any unnecessary increases to their electricity bills.”

• Dick Munson, Director, Midwest Clean Energy, Environmental Defense Fund

“We are pleased that the Commission approved the joint stipulation in AEP’s Electric Security Plan III Extension case. Both the environment and consumers will see benefits from this case, and Ohio’s grid will be more reliable and resilient as a result.

The OEC looks forward to continuing to work with our partners and the Commission to modernize Ohio’s grid through thoughtful implementation of EV infrastructure, microgrids, and other technologies, and to ensure Ohio’s infrastructure and rate design moves us toward a cleaner grid as quickly as possible.”

• Miranda Leppla, Clean Energy Attorney, the Ohio Environmental Council

The full decision from the PUCO can be found here.