American Electric Unit Files Plea For Extending Security Plan
Zacks Investment Research | Nov 28, 2016 08:58PM ET
AEP Ohio, an affiliate of American Electric Power Company, Inc. (NYSE:AEP) , has submitted a plea with the Public Utilities Commission of Ohio (PUCO) for extending the current Electric Security Plan (ESP), including some modifications, through May 2024, which would otherwise expire in May 2018.
Rationale of the Proposal
The ESP is intended to support AEP Ohio’s systematic investment program for the purpose of improving customer service and enhancing operating efficiency of its electric system. This can be achieved through the deployment of smart energy technologies like microgrids to supply uninterrupted power service to critical public safety infrastructure, electric vehicle charging stations and smart street lighting systems.
In order to curb and effectively manage outages, the ESP aims to engage in the proactive replacement of aging equipment, aggressive tree trimming and vegetation management programs, deployment of a new communications system to ensure timely dispatch of crew and rapid restoration of service in the event of an outage, and the use of security features to protect distribution stations from vandalism and physical attacks.
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