Update: AEP filed an application seeking approval of an amended electric security plan (ESP) that will modify the current ESP during the existing term, which will then be extended through May 2024. The application was filed to implement terms from the recently approved and modified PPA settlement. According to AEP, the application promotes retail electric competition, economic development, and job retention. The application seeks continuation of several riders, including the Basic Transmission Cost Rider (BTCR), the PPA Rider, and the Distribution Investment Rider, as well as an expansion of the IRP tariff and credit. As set forth in the PPA settlement, the application includes a provision that would give GS-3 and GS-4 customers with interval metering capability the opportunity to opt-in to a pilot program under the BTCR based on each eligible customer’s single annual transmission coincident peak.

The application, however, goes beyond the scope of the PPA settlement and proposes several new riders, including a nonbypassable Competition Incentive Rider (aimed at encouraging shopping), a nonbypassable Generation Resources Rider (aimed at developing new capacity resources), and a nonbypassable Submetering Rider (aimed at covering contingent costs associated with submetering).

AEP is requesting PUCO approval by September, but the PUCO has not yet established a procedural schedule.