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Spread out your monthly electric payments with AEP Ohio’s Average Monthly Payment Plan

by on April 27, 2015

AMP photo

Did you know you can average out your monthly payments over the whole year?

AEP Ohio’s Average Monthly Payment (AMP) Plan helps customers manage their electric bills through a more consistent monthly payment based on actual electricity used.

“The AMP Plan makes it easier for customers to budget their money because they will know, within a few dollars, what they need to set aside for their electricity payment each month,” said Karen Sloneker, AEP Ohio director of Customer Services and Marketing. “It helps minimize seasonal spikes associated with summer cooling and winter heating by spreading out electric payments over the whole year.”

How the AMP Plan works

With the AMP Plan, monthly payments are based on a rolling 12-month average of the customer’s billed amount. Each month, the oldest bill is removed from the average and the current month’s bill is added. As a result, the payment amount will fluctuate slightly from month to month.

This is not an equal monthly payment plan like the Budget Plan. AMP customers do not have a settle-up month at year-end as they do with the Budget Plan. A reconciliation only occurs when the customer stops participating in the plan.

                         AMP Plan                Budget Plan
Monthly payments fluctuate slightly Monthly payments are the same
No settle-up month at year-end Reconciliation occurs at year-end

New AEP Ohio customers also can enroll. In this case, the initial monthly amount is based on the previous customer’s use and will self-adjust over the following months.

To enroll in the plan, customers can call the Customer Operations Center at 800-672-2231. Additional information is available at aepohio.com/levelpay.

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