AES Corp. says PUCO has modified DP&L rates
The AES Corporation announced that the Public Utilities Commission of Ohio has modified Dayton Power & Light's rates, removing the annual Distribution Modernization Rider currently in place through October 2020. The PUCO also ordered DP&L to file new rates reflecting this change by no later than November 29, 2019. DP&L expects to withdraw its current Electric Security Plan, and file new rates consistent with its most recent Standard Service Offer approved by the PUCO in 2016 and based on DP&L's first ESP. "We are disappointed with the PUCO's decision, but we expect DP&L to continue to work with Commission Staff in order to reach a constructive outcome that will allow DP&L to invest in grid modernization, while at the same time continuing to have the lowest residential rates of any investor-owned utility in Ohio," said Gustavo Pimenta, AES Executive Vice President and CFO. "While this decision will have a significant impact on DP&L, it will not affect AES' 2019 guidance and expectations through 2022."