AEP could get paid extra for power supply in tough times
Federal energy regulators have approved a plan designed to make the electricity system more reliable in extreme conditions, one that is likely to lead to a small increase in power bills for consumers.
Columbus-based American Electric Power is among the companies that pushed for the change and likely will see an increase in income from power plants as a result.
The ruling says that PJM Interconnection, which maintains the electricity grid in a multistate territory that includes Ohio, can provide financial incentives to companies that will guarantee their power plants will be available at times of greatest need. This can include during periods of extreme heat or cold.
This puts a premium on plants that are the most dependable, which describes many coal, natural-gas and nuclear plants.
