Executives from 12 large businesses including Lowe’s Home Improvement, Wendy’s, Staples, Costco Wholesale, and Macy’s, among others, are arguing against American Electric Power (AEP)’s proposed power purchase agreement (PPA), saying it will “reduce the choices and flexibility we need to manage our energy requirements, resulting in higher costs for electricity for Ohio businesses, and will deny Ohio businesses the right to purchase electricity at the lowest possible price,” according to a recent Gongwerreport. AEP says that its proposal, which would allow it to charge customers for “losses stemming from aging power plants,” will “protect consumers against volatility in the market,” according to the report. (For more on AEP’s proposal, see our October 13, 2014 and October 15, 2014 blog posts.) In a letter to Public Utilities Commission of Ohio (PUCO) Chairman Tom Johnson, the coalition of businesses said the proposal “will result in customers that have already secured a supply of power from a competitive retail electric service provider paying twice for parts of their generation supply.” AEP attorney Steven Nourse said the proposal is “specifically designed to protect Ohio’s commercial and industrial ratepayers.”
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Business coalition opposes AEP’s proposed power purchase agreement
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