GAHANNA, Ohio, July 26, 2021 — Hot summer days can lead to big spikes in your electric bill. AEP Ohio, an American Electric Power (NYSE: AEP) company, is reminding customers of a better way to manage their payments.
The Average Monthly Payment (AMP) plan spreads the cost of heating and cooling over the whole year. That means customers will pay roughly the same amount during the summer and winter months, as they do during the off-peak months.
AEP Ohio’s Average Monthly Payment (AMP) plan provides monthly payments on a rolling 12-month average. Each month, the oldest bill is removed from the average and the current month’s bill is added. The result is a payment that might go up or down a few dollars but will remain relatively stable each month. AMP differs from the company's Budget plan which includes a “settle-up” month.
"A stretch of hot summer days can really make a difference on your electric bill as you're trying to stay cool," said Jon Williams, managing director of customer experience for AEP Ohio. "The AMP plan gives you a predictable monthly bill, which can be critical to keeping your family's budget on target."
AEP Ohio customers can enroll in AMP by calling the company’s 24-hour Customer Operations Center at 800-672-2231 or by logging into their account and updating their billing preferences.
AMP is only applicable to AEP Ohio charges. If you participate in Ohio Choice and want to enroll in a budget plan for generation charges, contact your generation provider.
To learn more about the AMP plan, visit AEPOhio.com/AMP.