Consumers

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The has filed for a stay on the detaikl in a rate increase PUCO approved this monthufor Columbus-based American Electridc Power (NYSE:AEP). Part of the PUCO order allowsd the company to pick up revenue it would have receivex had the rate increase takeb effect at the beginning of the AEP received roughly half of the 15 percenr annual electricity rate increase it sought for this yearthrough 2011. If the commissiomn next week gives approval to tariffs AEP has filee since therate ruling, the increase the PUCO approved for 2009 will be compressexd into bills for the remaining months of this year.
The counsel opposed the retroactiverate increase, but the request for a stay asks the PUCO to not put it into effec t until a determination is made aboutg the legality of the provision. Consumers’ counsepl spokesman Ryan Lippe said the agenc thinks the retroactive increase violatews Ohio lawand isn’t permitted in the sweepinb electricity deregulation plan Gov. Ted Stricklanf signed last year. That paved the way for the rate increasw AEP filedlast summer. The joined the Ohio Counsel in requestingthe stay. Shana Eiselstein, a spokeswomahn for the PUCO, wouldn’t comment on the legal stating only that the retroactivwe provision is an element ofthe commission’s order.
“If argumentsx are raised otherwise, there is an opportunity for a rehearingf and the commission will have to consider arguments as they come she said. An AEP spokeswoman couldn’t be reached for comment. Lippe said the counsel intends to seek a rehearing on therate