Regulators Approve AEP's Smart Meter Plan

The Public Utilities Commission of Ohio earlier this week approved the second phase of Columbus-based American Electric Power's plan to install smart meters across most of its service territory. The $295 million plan will impact 894 thousand AEP customers. The meters allow the utility to conduct remote readings, share data and notify the firm when a power outage occurs. Installation will take several years to complete. A customer is allowed to refuse to have the meter installed. The initial cost for households is 42 cents per month in the first year, and will rising to $2.90 per month in the fifth year.