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AEP OHIO FILES MODIFIED ELECTRIC SECURITY PLAN TARIFFS

August 16, 2012

COLUMBUS, Ohio, Aug. 16, 2012 – AEP Ohio, a unit of American Electric Power (NYSE: AEP), today filed its Electric Security Plan (ESP) tariffs with the Public Utilities Commission of Ohio (PUCO). The tariffs show rate increases approved by the Commission on a total bill basis that include generation, distribution and transmission charges.

     “We have worked hard to minimize bill impacts on customers as we transition to a competitive market model,” said Pablo Vegas, AEP Ohio president and chief operating officer. “Customers will benefit during this transition by having fixed generation rates and a greater ability to shop for a competitive price on their power generation service, and by having AEP Ohio take part in energy supply auctions.”

     Under the tariffs filed today, resulting from a PUCO order on Aug. 8, a typical residential customer using 1,000 kWh per month would see an increase of approximately $7.85 (6.3 percent) on the total bill for customers in the CSP rate zone and $6.94 (6.1 percent) for customers in Ohio Power’s rate zone in 2012. The increases are associated with distribution investments already made by AEP Ohio on behalf of the customers and for providing deep discounts to third-party electricity generation suppliers.

     A typical commercial (GS-2) customer using 10,000 kWh per month with a 30 kW demand would see an increase of approximately $13.08 (1.0 percent) on the total bill for customers in the CSP rate zone and $49.87 (4.8 percent) for customers in Ohio Power’s rate zone in 2012.

     In addition to the ESP rates, customers will begin paying for power generation fuel costs from the period 2009-2011 that the Commission ordered AEP Ohio to defer for collection beginning in 2012. The company will collect the deferred costs over a seven-year period through a Phase-In Recovery Rider (PIRR). The PUCO approved this recovery on Aug. 2.

     A typical residential customer using 1,000 kWh per month would see a monthly PIRR cost of approximately $0.07 (0.1 percent) for customers in the CSP rate zone and $4.22 (3.7 percent) for customers in Ohio Power’s rate zone.

     A typical commercial (GS-2) customer using 10,000 kWh per month with a 30 kW demand would see an increase of approximately $0.68 (0.1 percent) for customers in the CSP rate zone and $42.22 (4.1 percent) for customers in Ohio Power’s rate zone in 2012.

     Ohio Power rate zone customers experienced larger increases due to having a larger fuel deferral than CSP rate zone customers. The percentage increases also are factored on a total bill basis.

    The company expects the PUCO to approve the tariffs and the PIRR to commence with the first billing cycle in September. Customers are encouraged to go to www.aepohio.com to find energy efficiency ideas that will help to reduce their bills.

     AEP Ohio provides electricity to nearly 1.5 million customers of major AEP subsidiaries Columbus Southern Power Company and Ohio Power Company in Ohio, and Wheeling Power Company in the northern panhandle of West Virginia. AEP Ohio is based in Gahanna, Ohio, and is a unit of American Electric Power. News and information about AEP Ohio can be found at www.aepohio.com.

     American Electric Power is one of the largest electric utilities in the United States, delivering electricity to more than 5 million customers in 11 states. AEP ranks among the nation’s largest generators of electricity, owning nearly 38,000 megawatts of generating capacity in the U.S. AEP also owns the nation’s largest electricity transmission system, a nearly 39,000-mile network that includes more 765 kilovolt extra-high voltage transmission lines than all other U.S. transmission systems combined. AEP’s transmission system directly or indirectly serves about 10 percent of the electricity demand in the Eastern Interconnection, the interconnected transmission system that covers 38 eastern and central U.S. states and eastern Canada, and approximately 11 percent of the electricity demand in ERCOT, the transmission system that covers much of Texas. AEP’s utility units operate as AEP Ohio, AEP Texas, Appalachian Power (in Virginia and West Virginia), AEP Appalachian Power (in Tennessee), Indiana Michigan Power, Kentucky Power, Public Service Company of Oklahoma, and Southwestern Electric Power Company (in Arkansas, Louisiana and east and north Texas). AEP’s headquarters are in Columbus, Ohio. News releases and other information about AEP can be found at www.aep.com.
 

MEDIA CONTACT:
Terri Flora
Director - Communications
866/641-1151 or 614/883-7999

ANALYST CONTACT:
Bette Jo Rozsa
Managing Director, Investor Relations
614/716-2840

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