DAYTON, Ohio - September 26, 2018 - The Dayton Power and Light Company (DP&L), a subsidiary of The AES Corporation (NYSE: AES), announces today the Public Utilities Commission of Ohio (PUCO) issued its Order accepting the Stipulation filed in the DP&L Distribution Rate Case. The broadly-supported Stipulation is the collaborative work of 16 stakeholders balancing the interests of residential, commercial, industrial, and governmental customers as well as the PUCO Staff.
The Order provides DP&L the resources to continue meeting the needs of its customers and support the company's investments to enhance reliability and customer service. The average residential customer, using 1,000 kWh on DP&L's Standard Service Offer, can expect a monthly bill adjustment of $2.64. Going forward, the new rates reflect the lower federal tax rates resulting from the Tax Cuts and Jobs Act of 2017. New rates are anticipated to become effective in October.
"Our customers have benefited from stable, low-cost base distribution rates and DP&L continues to maintain the lowest residential rates of the investor-owned utilities in Ohio," said Craig Jackson DP&L President and CEO. "I am proud that DP&L reached this milestone by gaining consensus among a vast majority of stakeholders resulting in a fair resolution.
As part of the Order, DP&L agreed to make system upgrades facilitating the installation of electric vehicle charging infrastructure supported by upcoming grants awarded by the Ohio EPA from the Volkswagen Mitigation Trust Fund.