Electrical Rate Competitiveness Factors into Site Selection
For companies with electric-intensive operations, the availability, cost, reliability and redundancy of electric power plays a big part in finding the right site. While utilities are rarely the primary factor in the decision-making process, once a company or site selector narrows its field of desirable locations, we can help identify properties where cost-competitive, abundant and efficient energy service is available.
Here’s a look at how our regulated utility companies rank in industrial average rates compared to state averages, according to the Energy Information Administration.
And the blended average of our regulated rates has consistently been below the national average.
Our rates are competitive, but making an energy decision is more than just cost per kilowatt-hour. Generation sources, service level requirements, and project timelines should also be taken under consideration.
AEP’s fuel portfolio has steadily become more diverse and balanced as we increase our use of natural gas and renewable resources, as well as energy efficiency. Plus, the AEP system boasts tremendous generation capacity and the largest transmission network in the country to accommodate industrial growth.
We work with businesses to build an electric service and rate plan based on their unique energy needs. Contacting us early in the site selection process is highly recommended so we can assess sites for their appropriateness in capacity, reliability and time to delivery, provide an accurate cost estimate and avoid potential issues during start-up.
If AEP can help you with a service or rate plan, let us know.