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GAHANNA, Ohio, May 23, 2023 — As temperatures get warmer, energy usage can increase. AEP Ohio, an American Electric Power (NYSE: AEP) company, is reminding customers about a payment plan that can help stabilize their electric bill throughout the year.
AEP Ohio’s Average Monthly Payment (AMP) plan spreads the cost of heating and cooling over the course of a year. That means customers will pay roughly the same amount during the summer and winter months, as they do during the off-peak months.
The AMP plan provides monthly payments on a rolling 12-month average. Each month, the oldest bill is removed from the average and the current month’s bill is added. The result is a payment that might go up or down a few dollars but remains relatively stable each month. AMP differs from the company's Budget plan which includes a “settle-up” month.
For customers who receive their generation supply through AEP Ohio’s Standard Service Offer (SSO), AMP can be a helpful budgeting tool. These customers will be impacted by the upcoming increase to the generation supply portion of their electric bill. Customers who are part of a municipal aggregation, participate in the Percentage of Income Payment Plan (PIPP) or shop in their individual capacity will not be impacted by this same generation supply bill increase.
"Hot summer days can really make a difference on your electric bill as you're trying to stay cool," said Jon Williams, managing director of customer experience and distribution technology for AEP Ohio. "The AMP plan gives you a more predictable monthly bill, which can be critical to keeping your family's budget on target, especially with warmer weather and rising generation supply costs for many customers."
AEP Ohio customers can enroll in AMP by calling the company’s 24-hour Customer Operations Center at 800-672-2231 or by logging into their account and updating their billing preferences at AEPOhio.com/Account.
AMP is only applicable to AEP Ohio charges. If you participate in Ohio Choice and want to enroll in a budget plan for generation charges, contact your generation provider.
To learn more about the AMP plan and other payment assistance options, visit AEPOhio.com/Assistance.