AEP Ohio received approval from the Public Utilities Commission of Ohio to move ahead with the third phase of its grid modernization plan.
Wednesday’s settlement will allow the utility to bring advanced smart grid technologies, including smart meters, throughout its service territory.
AEP will invest more than $220 million over the next seven years in smart grid equipment in the rural areas of its service territory under the approved plan.
Under this plan, the utility will install approximately 475,000 additional smart meters across the state.
More than 900,000 have already been installed under phases 1 and 2 of the smart grid program.
The average residential customer using 1,000-kilowatt hours of electricity per month will see an average increase of $0.33 per month for the program.