AEP Rates Could Drop

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Cheaper electric rates could be coming to those in Ohio.

American Electric Power wants to make rate cuts.

Last December AEP filed its third electric security plan, which helps make the transition to market based rates.

AEP is filing early to help customers in the long run.

If you're an AEP customer your bill could drop between nine to twelve percent.

"We are subject now to what the market it showing us, so all auctions can either go up or down," says Terri Flora, with AEP. "But right now we are anticipating that to decrease. For customers that have shopped and have a different suppler we anticipate their rates will remain flat."

A regulatory hearing to implement the possible cuts starts next week.

The lower rates will go into effect June 2015.

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