AEP CEO Says EPA Caused Rate Increases in WV

I think someone handed the Little Drummer Boy the wrong script a couple weeks ago when he sat down with a reporter from the State Journal.

LDB says, "APCO – this territory – has borne the brunt of pretty sizable (rate) increases, and it's mainly due to environmental retrofitting of coal units. Still, the rates are lower than they are in other parts of the country, but that doesn't matter to the people paying the bills. The fact is that we've gotten ahead at APCO, so it should moderate future increases."

He also says that 35% rate increases are "needless."

But last week, AEP's spokes-flack said the rate increases were caused by coal that has already been burned:

"We have already bought the coal, we have already made the power and customers have already used that power," Matheney said. "We're facing this large amount of money that has already been spent."

I'd like to introduce you to

You two should get together some time and get to know each other.

Or, maybe the rate increases are caused by excessive AEP executive salaries

"The first step is for AEP's executive types to take some nice, big pay cuts and share in some of this pain the rest of us are feeling every month when we get their bill. Let that happen first, then we'll talk about selling some bonds."

Or maybe the rate increases are caused by zombies?