Consumers

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The has filed for a stay on the detail in a rate increased PUCO approved this monthfor Columbus-basedd American Electric Power (NYSE:AEP). Part of the PUCO ordetr allows the company to pick up revenuee it would have receive d had the rate increase takemn effect at the beginning ofthe year. AEP received roughlt half of the 15 percent annuao electricity rate increase it sought for this yearthrougb 2011. If the commission next week givesx approval to tariffs AEP has filed since therate ruling, the increase the PUCO approved for 2009 will be compressed into billxs for the remaining months of this year.
The consumers’ counsel opposedd the retroactive rate but the request for a stay asks the PUCO to not put it into effecr until a determination is made about the legalit ofthe provision. Consumers’ counsel spokesmajn Ryan Lippe said the agency thinkz the retroactive increase violates Ohio lawand isn’ft permitted in the sweeping electricity deregulation plan Gov. Ted Strickland signex last year. That paved the way for the rate increase AEP fileddlast summer. The joined the Ohio Consumers’ Counsel in requesting the stay.
Shanza Eiselstein, a spokeswoman for the PUCO, wouldn’ t comment on the legal questions, statingh only that the retroactive provision is an elementr ofthe commission’s order. “Ic arguments are raised otherwise, therre is an opportunity for a rehearing and the commissiohn will have to consider arguments as they come she said. An AEP spokeswoman couldn’t be reachedf for comment. Lippe said the consumers’ counsel intendsz to seek a rehearing on therate increase.