The PUCO recently signed off on the third energy-only auction for American Electric Power (AEP), “bringing the company’s base electricity rates closer to full deregulation,” Gongwer reports. In a 20-round auction, five suppliers submitted winning bids, resulting in “an average clearing price of $48.05 per megawatt hour for 25% of the utility’s load,” according to the report. PUCO requires AEP to provide “an increasing share of its generation” from auctions until 100% is obtained from the competitive market.
Aqua Ohio received approval from the PUCO to increase its water service rates by $3.8 million per year, a reduction from its original request for a $6.7 million increase. According to the Gongwer report, “[e]arlier this summer, the company, PUCO staff and the cities of Marion and Tiffin signed onto a stipulated agreement that reduced the original rate request and set a limit of 7.47% rate of return on investment.” Aqua Ohio cannot raise its base rate for a period of two years under this agreement, which applies to territories previously owned by Ohio American Water Company.