AEP Forecasts 2014 Switching in Ohio Service Area

AEP has forecast that its AEP Ohio service area will see customer switching reach 71% by the end of 2014, it said in reporting earnings yesterday.

As of December 2013, 65% of total AEP Ohio load had switched.

For the full year 2013, the transition to a competitive market in Ohio negatively impacted AEP earnings by $126.6 million, versus the year-ago, due to reduced reimbursements for capacity from competitive suppliers, prior year reversal of a fuel provision, prior year reversal of a regulatory obligation, and customer switching and capacity deferral.