AEP offering incentives for biz - Business First of Columbus:

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Gahanna-based AEP Ohio, a division of Columbus-base American Electric Power Company Inc. (NYSE:AEP), on Tuesdayy detailed a set of three incentive programs tied to a gridSmart prograk that the Public Utilities Commissionn of Ohio approved earlier this Spokeswoman Shelly Haugh said the compangy has been privately promotiny the incentives to commercial customers since the beginnintg of June and has signed on 40 customersseekinh $1.1 million in breaks. The compan hasn’t set a limit of incentives it plansw to give out over the course ofthe two-year program, Haugh said. “Wse intend at this point to honor all incentivezs atsome level,” she said.
The programs range from a rebatrefor high-efficiency lighting projects to incentivees on purchasing equipment that cuts down on electricit demand. And through the company’s Self-Direcgt Program, AEP is allowing qualifying companies who havefinished energy-efficiencyy projects since 2006 to apply for an incentivde payment or credit against an electric bill surcharge. The compangy is taking applications for the incentives at The programs tie into a larger effort to cutthe state’as electricity consumption by 22 percent by the end of 2025. Through a comprehensivwe energy bill passedlast year, AEP must cut its usaged by 0.3 percent this year and 0.5 percen t in 2010.
A key piecee of AEP’s gridSmart program is a plan to installo metersat customers’ homeds and in businesses that allow greater control over usage. American Electric (NYSE:AEP) delivers electricity to more than 5 millio customers in11 states, including about 1.5 million Ohio customers. The companuy last year earned $1.38 billion on $14.6 billionm in revenue.