Bill would freeze AEP rate increases for 2 years

Bill would freeze AEP rate increases for 2 years

State lawmakers have introduced House Bill 2665, a largely bipartisan proposal that would stop anymore rate increases from AEP for the next two years. Customers of the power company that serves Henry and Patrick counties has seen their bills rise by 42 percent over the past three years. The bill needs both House and Senate approval and would go into effect July 1.

The bill that would have allowed customers in this part of the state to shop for other electric providers if their bill was 25% more than the state average has failed to advance out of a Senate subcommittee on Monday. The vote was mostly along party lines with Democrats supporting the measure. The vote against the bill included a promise to send a letter to the Commission on Electric Utility Regulation for further study on the issue.