DAYTON, Ohio--(BUSINESS WIRE)--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 supports 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.
About The Dayton Power and Light Company and AES
The Dayton Power and Light Company is the principal subsidiary of DPL Inc. (DPL), a regional energy provider and an AES company. DPL’s significant subsidiaries include The Dayton Power and Light Company, AES Ohio Generation, LLC (AES Ohio Gen), Miami Valley Insurance Company (MVIC), and Miami Valley Lighting, LLC (MVLt). The Dayton Power and Light Company, a regulated electric utility, provides service to over 520,000 customers in West Central Ohio; MVIC, a captive insurance company, provides insurance services to DPL and its subsidiaries, and MVLt maintains outdoor lighting to governments and businesses. AES Ohio Gen co-owns merchant generation facilities. For more information about the company, please visit www.dplinc.com. Connect with DP&L at www.twitter.com/dpltoday, www.linkedin.com/company/dayton-power-and-light, and at www.facebook.com/DPLToday.
The AES Corporation (NYSE: AES) is a Fortune 500 global power company. We provide affordable, sustainable energy to 15 countries through our diverse portfolio of distribution businesses as well as thermal and renewable generation facilities. Our workforce is committed to operational excellence and meeting the world’s changing power needs. Our 2017 revenues were $11 billion and we own and manage $33 billion in total assets. To learn more, please visit www.aes.com. Follow AES on Twitter @TheAESCorp.
