AES Ohio reaches distribution rate review settlement

August 13, 2025

Today, AES Ohio, a subsidiary of The AES Corporation (NYSE: AES), filed an unopposed settlement resolving its distribution rate review, marking a significant milestone in the company’s ongoing commitment to safety, reliability and resilience for customers across West Central Ohio. The settlement is the result of a collaborative process among stakeholders, including residential, commercial, industrial, and governmental customers, as well as Public Utilities Commission of Ohio (PUCO) staff.

This rate review includes AES Ohio’s improvements and replacements to its system from 2020 to 2024. During this period, AES Ohio upgraded its electric infrastructure to improve safety, reliability, and resilience.

“The investments AES Ohio has made in our infrastructure and technology are about reliably delivering electricity and meeting our customers’ expectations,” stated, Tom Raga, President of AES Ohio. “We greatly value the collaboration with our stakeholders and the engagement of our customers as we work together to ensure a reliable and modern energy future for West Central Ohio.”

If approved by the PUCO, the settlement will allow AES Ohio to move forward in recovering investments and managing costs essential to sustaining high-quality service and preparing for future demand. The monthly bill for a typical residential customer using 1,000 kWh would increase by 9.0%, keeping our rates in line with peers. Additionally, as part of the settlement AES Ohio has committed an additional $1 million in funding for the Gift of Power, which provides assistance to residential customers unable to pay their electric bills and facing disconnection.

Next, the PUCO will hold an evidentiary hearing on the settlement. All information gathered is part of the Commission’s decision-making process.

For more information about AES Ohio’s rate review and ongoing investments, visit AES Ohio Distribution Rate Review.

A copy of the filed proposal is available on the PUCO docket under Case No. 24-1009-EL-AIR.

Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934. These statements include, but are not limited to, statements regarding management’s intents, beliefs, and current expectations and typically contain, but are not limited to, the terms “anticipate,” “potential,” “expect,” “forecast,” “target,” “will,” “would,” “intend,” “believe,” “project,” “estimate,” “plan” and similar words. Such forward-looking statements include, without limitation, statements with respect to return on and recovery of costs and expenses, the making of regulatory applications and filings, timing of hearings and approvals, strategic objectives, management’s expectations, or other anticipated matters in connection with the Settlement and its effects, including those on DPL’s or AES Ohio’s financial performance and condition. Forward-looking statements are not intended to be a guarantee of future results but instead constitute DPL’s and AES Ohio’s current expectations based on reasonable assumptions. These assumptions include, but are not limited to, our expectations regarding timing of events, accurate projections of market conditions and regulatory rates, future interest rates, commodity prices, continued operating performance and electricity volume at distribution companies, as well as achievements of planned productivity improvements and growth investments at expected rates of return.

Actual results could differ materially from those projected in our forward-looking statements due to risks, uncertainties, and other factors. Important factors that could affect actual results are discussed in DPL’s and AES Ohio's filings with the Securities and Exchange Commission (the "SEC"), including, but not limited to, the risks discussed under Item 1A: "Risk Factors" and Item 7: "Management's Discussion & Analysis" in DPL’s and AES Ohio's 2024 Annual Report on Form 10-K and in subsequent reports filed with the SEC. Readers are encouraged to read DPL’s and AES Ohio's filings to learn more about the risk factors associated with DPL’s and AES Ohio's businesses. DPL and AES Ohio undertake no obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise. Any security holder who desires a copy of DPL’s or AES Ohio's 2024 Annual Report on Form 10-K, or subsequent filings with the SEC, may obtain a copy (excluding the exhibits thereto) without charge by addressing a request to the Office of the Secretary, AES Ohio, 1065 Woodman Drive, Dayton, Ohio 45432. Exhibits also may be requested, but a charge equal to the reproduction cost thereof may be made. A copy of the Annual Report on Form 10-K may also be obtained by visiting AES Ohio's website at www.aes-ohio.com.

About AES Ohio
AES Ohio is a subsidiary of The AES Corporation and provides regulated electric utility service to more than 539,000 residential, commercial and industrial customers in a 6,000-square-mile service area in West Central Ohio. Our people operate and maintain more than 1,600 miles of transmission lines, 13,000 miles of overhead distribution lines, 4,500 miles of underground distribution lines and 160 substations feeding 490 distribution circuits. Learn more about how AES Ohio is accelerating the future of energy, visit aes-ohio.com. Connect with AES Ohio on X, Facebook, and LinkedIn.