Consumers

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The has filed for a stay on the detailk in a rate increase PUCO approved this monthnfor Columbus-based American Electridc Power (NYSE:AEP). Part of the PUCO orderd allows the company to pick up revenud it would have received had the rate increase takenb effect at the beginning of the AEP received roughly half of the 15 percenft annual electricity rate increase it sought for this yearthrougnh 2011.
If the commission next week gives approval to tariff AEP has filed since therate ruling, the increasew the PUCO approved for 2009 will be compresse into bills for the remaining months of this The consumers’ counsel opposed the retroactive rate but the request for a stay asks the PUCO to not put it into effectt until a determination is made aboug the legality of the provision. Consumers’ counsel spokesmab Ryan Lippe said the agency thinksw the retroactive increase violated Ohio lawand isn’t permitted in the sweepinhg electricity deregulation plan Gov. Ted Strickland signed last That paved the way for the rate increase AEP filecdlast summer.
The joined the Ohio Counsel in requestingthe stay. Shana a spokeswoman for the PUCO, wouldn’rt comment on the legal questions, stating only that the retroactiv e provision is an element ofthe commission’xs order. “If arguments are raised there is an opportunity for a rehearingy and the commission will have to consideer arguments as theycome up,” she said. An AEP spokeswomamn couldn’t be reached for comment. Lippe said the counsel intends to seek a rehearing on therate increase.