American Electric Power Company Inc. (AEP) hasn’t recovered the costs it incurred during the first phase of its smart-meter program, and it is asking the Public Utilities Commission of Ohio (PUCO) for permission to raise fees to cover that shortage, Columbus Business First reports. AEP “says it under-collected by more than $2.7 million” the costs from the first phase of its smart-meter program that rolled out to 110,000 customers in 2013 and 2014. The utility company wants to raise residential customers’ fees from 51 cents to $1.04 per month and raise nonresidential customers’ fees from $2.10 to $4.34 per month. If PUCO approves the increase, the new rates “would last until they are modified again next year,” according to an AEP spokesperson. The smart meters allow ratepayers to see their electricity usage in real time, and are intended to help them “understand and modify their energy use.” AEP is still waiting for approval to roll out smart meters to its remaining 900,000 customers (see our January 14, 2015 blog post for more on this). For more, read the full article.