AES Ohio Refund For Dayton Customers
Back in 2018 and 2019, AES Ohio collected millions in excessive profits from their electric security plans (ESP). Initially, PUCO chose to allow the utility to keep the money. Their idea was to let the utility use the money to support their grid rather than refund it to their customers. But now, after a years long court battle, PUCO has ordered AES Ohio to pay refunds for this excessive amount. But how much is the refund for and how will it affect your bills? Let’s unpack the AES Ohio refund and why the Office of the Ohio Consumers’ Counsel (OCC) says customers deserve more.
AES Ohio Refund Details
Earlier this month, PUCO ordered AES Ohio to refund $11 million to Dayton electric customers. This refund comes from excessive revenue earned in 2018 and 2019 from its ESP. The utility used its ESP to plan its standard-service offer rates. As a result, AES Ohio will pay about $6.897 million to residential customers. The refund will comes as a one-time credit on their energy bills.
Refund Faces OCC Criticism
We can’t yet predict how much of a refund customers can expect. However, we can report that the OCC believes that Dayton customers should have earned more.
Back in 2018 and 2019, AES Ohio collected about $61.1 million from ESP charges. PUCO illegally allowed the utility to keep the undue profit to offset investment costs to improve its grid. The OCC objected and took the case before the Ohio Supreme Court.
PUCO argued that Ohio Revised Code 4928.143(F) allowed them to make the call. However, the court found that the statute’s language requires PUCO to return “significantly excessive earnings” to consumers. As a result, PUCO has ordered the $11 million refund.
But, the refund is much less than the $82 million argued by the OCC. For that reason, they may consider presenting their case before PUCO in August.
Will Refund Lower Energy Prices
As it stands, Dayton customers may only receive a one-time credit on an upcoming AES Ohio bill. So this may not do much to lower your bills. However, if the OCC successfully appeals the case, there may be a larger refund down the line. But until then, it’s best to find ways to save energy and cut your bills however you can.
You can start by shopping for the cheapest electricity in town right here at https://www.ohenergyratings.com. You can also count on us for news and tips that could affect you bills.