AEP electric rates: what each AEP utility's customers pay
There is no single AEP rate: American Electric Power's utilities reach 4.8 million homes in 10 states, and their bundled residential customers paid from 12.14¢ per kWh at SWEPCO (Arkansas) to 18.97¢ per kWh1 at AEP Ohio in 2025. In parts of Texas and Ohio, AEP mostly delivers power that customers buy from someone else, and EIA's monthly data for 2026 show the AEP utilities moving in opposite directions.
The name on the bill decides the price
AEP is the parent of several operating utilities: AEP Ohio, Appalachian Power, Indiana Michigan Power (I&M), Kentucky Power, Public Service Company of Oklahoma (PSO), Southwestern Electric Power Company (SWEPCO), AEP Texas Central and AEP Texas North. EIA reports each one separately in every state it serves, which gives 12 utility pages here: Appalachian Power has one for Virginia and one for West Virginia, I&M one for Indiana and one for Michigan, and SWEPCO one each for Arkansas, Louisiana and Texas. Prices are reviewed state by state, by the Public Utilities Commission of Ohio, the Oklahoma Corporation Commission, the Arkansas Public Service Commission, the Louisiana Public Service Commission, the Public Utility Commission of Texas, the Kentucky Public Service Commission, the Virginia State Corporation Commission, the Public Service Commission of West Virginia, the Indiana Utility Regulatory Commission and the Michigan Public Service Commission.
Source: EIA-861 annual electric power industry report, 2025 final. EIA-861 2025 final. Average revenue per kWh is all charges divided by kWh; it is not a tariff rate.
Show the numbers
| Utility | average residential price (bundled customers) |
|---|---|
| SWEPCO (AR) | 12.14¢ |
| SWEPCO (TX) | 12.60¢ |
| SWEPCO (LA) | 13.85¢ |
| PSO (OK) | 14.23¢ |
| Kentucky Power (KY) | 15.95¢ |
| Appalachian Power (WV) | 16.97¢ |
| Appalachian Power (VA) | 17.16¢ |
| Indiana Michigan Power (IN) | 17.16¢ |
| Indiana Michigan Power (MI) | 17.19¢ |
| AEP Ohio (OH) | 18.97¢ |
The figures in the chart are average revenue per kWh for 2025: what bundled residential customers were billed in total, fixed charges, fuel and riders included, divided by the kWh they used. Across AEP's utilities that came to 16.19¢ per kWh. The national average for all investor-owned utilities was 17.78¢ per kWh, and every AEP utility except AEP Ohio averaged less: SWEPCO in Arkansas was 31.7% below the national average for investor-owned utilities, PSO 20.0% below the national average for investor-owned utilities. AEP Ohio, at 18.97¢ per kWh, was 6.7% above the national average for investor-owned utilities1.
Against their own states the picture changes. Kentucky Power averaged 15.95¢ per kWh, 21.5% above the Kentucky average, and Appalachian Power in Virginia was the highest among Virginia's utilities with 10,000 or more bundled homes. Three AEP utilities sat below their state averages in 2025: I&M in Michigan (17.19¢ per kWh, 14.2% below the Michigan average), SWEPCO in Texas (12.60¢ per kWh, 18.2% below the Texas average) and SWEPCO in Arkansas (5.7% below the Arkansas average1).
2026: up in Arkansas and Kentucky, down in Indiana and Virginia
The annual figures above end in December 2025. EIA's monthly survey of utilities (EIA-861M, preliminary for 2026) shows what happened next, and the AEP utilities split. In August 20262, against August 2025, the average residential price changed by +24.6% at SWEPCO in Arkansas, +21.8% at Kentucky Power, +8.4% at AEP Ohio, +8.1% at SWEPCO in Louisiana and +6.5% at PSO. It moved −14.6% at I&M in Indiana and −10.2%3 at Appalachian Power in Virginia.
One month can swing with fuel adjustments and billing timing, so the 12 months to August 2026 are the steadier reading. Over September 2025 to August 2026, PSO homes paid 15.89¢ per kWh on average, against 14.23¢ per kWh in calendar 2025; SWEPCO's Arkansas homes paid 14.51¢ per kWh against 12.14¢ per kWh; Kentucky Power's 16.95¢ per kWh against 15.95¢ per kWh1. AEP Ohio's default-service customers averaged 20.48¢ per kWh3 over the same 12 months. The annual and 12-month figures come from different EIA surveys (the full EIA-861 census and the monthly sample) and the 2026 months are preliminary.
Price changes are decided in rate cases at each state commission, and EIA's averages do not say which charge moved. One example with a public record: Kentucky Power's general rate case, filed on August 29, 2025, ended in a Kentucky Public Service Commission order of February 28, 2026 that approved new rates for service from March 1, 2026; the commission reopened parts of the case on rehearing in April 2026. Each utility page lists the cases and figures for its own state, and EIA publishes the next monthly data on November 24, 2026.
Texas: three AEP companies, one residential price
In Texas, AEP has two kinds of utility. AEP Texas Central and AEP Texas North own poles, wires and meters in the competitive part of the state: homes there buy electricity from a retail electric provider, and AEP Texas bills that provider for delivery. EIA therefore has no residential price for either company, only delivery revenue. In 2025, AEP Texas Central's delivery charges averaged 5.91¢ per kWh and $68.16 a month per home; AEP Texas North's averaged 5.86¢ per kWh and $57.471. The provider's energy charge comes on top. Current plans in both areas are listed on the state's Power to Choose site.
SWEPCO's Texas customers are different: EIA counts all 157,119 of its Texas residential customers as full-service, buying power and delivery from SWEPCO for an average of 12.60¢ per kWh1 in 2025. Texas's competitive market operates inside the ERCOT grid, which, according to EIA, covers most but not all of the state.
Source: EIA-861 annual electric power industry report, 2025 final. Delivery charges only: what the utility billed customers who buy supply elsewhere, divided by their kWh. Not comparable with bundled prices.
Show the numbers
| Utility | delivery-only revenue per kWh (residential) |
|---|---|
| AEP Texas North (TX) | 5.86¢ |
| AEP Texas Central (TX) | 5.91¢ |
| AEP Ohio (OH) | 10.26¢ |
The same split exists in Ohio. In 2025, 60.1% of the residential customers on AEP Ohio's wires bought their supply from a competitive supplier or a community aggregation, and AEP Ohio billed them for delivery only: 10.26¢ per kWh on average, −4.6% from 2024. The 18.97¢ per kWh1 bundled average covers only the homes that stayed on AEP Ohio's Standard Service Offer. Delivery-only and bundled averages describe different customers and different parts of a bill, so neither can be added to the other; Ohio's official Energy Choice site lists offers, and the Ohio retail choice guide explains the parts.
Bills: highest in Appalachia
A low price does not guarantee a low bill. In 2025, Kentucky Power homes used 1,235 kWh a month and paid $196.99, and Appalachian Power's West Virginia homes used 1,157 kWh and paid $196.40. SWEPCO's Arkansas homes used 890 kWh and paid $108.10, and I&M's Michigan homes used 830 kWh for $142.671.
Source: EIA-861 annual electric power industry report, 2025 final. EIA-861 2025 final. Average revenue per kWh is all charges divided by kWh; it is not a tariff rate.
Show the numbers
| Utility | average monthly residential use |
|---|---|
| Indiana Michigan Power (MI) | 830 |
| Indiana Michigan Power (IN) | 853 |
| SWEPCO (AR) | 890 |
| AEP Ohio (OH) | 944 |
| PSO (OK) | 1,020 |
| Appalachian Power (VA) | 1,084 |
| Appalachian Power (WV) | 1,157 |
| SWEPCO (TX) | 1,159 |
| SWEPCO (LA) | 1,175 |
| Kentucky Power (KY) | 1,235 |
The season of peak use also differs. In the 12 months to August 2026, the month of highest use was January 2026 at Appalachian Power in West Virginia (average bill that month $279.80), January 2026 at Kentucky Power ($281.42) and January 2026 at AEP Ohio, while PSO peaked in August 2026 at $322.59 and SWEPCO in Louisiana in August 2026 at $267.153. Use in the eastern AEP utilities peaks in winter and in the southwestern ones in summer, though summer prices can still make July or August the costliest month, as at AEP Ohio, whose highest-use month was in winter.
From 2024 to 2025, average bills grew faster than prices at most AEP utilities because use per home also rose: +14.8% at SWEPCO in Texas, +12.1% in Louisiana, +10.5% at Kentucky Power and +10.2% at SWEPCO in Arkansas. PSO's +9.0% came mostly from price, which rose 11.8%1.
Outages, meters and time-of-use
Source: EIA-861 2025, reliability. EIA-861 2025 final. Average revenue per kWh is all charges divided by kWh; it is not a tariff rate.
Show the numbers
| Utility | outage minutes per customer (all events) |
|---|---|
| AEP Texas North (TX) | 133 |
| PSO (OK) | 200 |
| AEP Texas Central (TX) | 205 |
| AEP Ohio (OH) | 221 |
| Indiana Michigan Power (IN) | 283 |
| SWEPCO (AR) | 428 |
| SWEPCO (LA) | 451 |
| SWEPCO (TX) | 467 |
| Kentucky Power (KY) | 911 |
| Indiana Michigan Power (MI) | 932 |
| Appalachian Power (WV) | 1,035 |
| Appalachian Power (VA) | 1,116 |
Counting major storms, the average Appalachian Power customer in Virginia was without power for 1,116 minutes in 2025, and in West Virginia for 1,035 minutes; I&M's Michigan customers lost 932 minutes and Kentucky Power's 911 minutes. At the other end, AEP Texas North recorded 133 minutes and PSO 200 minutes. Without major event days, the gap remains: 546 minutes in West Virginia against 83 minutes4 at I&M in Indiana. These are SAIDI figures under IEEE 1366, reported by each utility to EIA.
Metering and pricing differ too. Kentucky Power reported 0.0% of its residential meters as advanced meters for 2025, while most AEP utilities reported nearly all. SWEPCO, in all three of its states, and PSO reported almost every residential customer as enrolled in time-of-use pricing (99.7% at PSO, 100.0% at SWEPCO in Louisiana); at Appalachian Power and AEP Ohio the share was 0.3%5 or less. EIA records enrollment, not peak hours or price differences, which are in each utility's tariff. The table below lists every AEP utility with its customers, price, change, bill, use, delivery charges and outage minutes.
| AEP Ohio | Ohio | 1,348,588 | 18.97¢ | −1.9% | $179.10 | 944 | 10.26¢ | 221 |
|---|---|---|---|---|---|---|---|---|
| PSO | Oklahoma | 506,245 | 14.23¢ | +11.8% | $145.20 | 1,020 | – | 200 |
| SWEPCO | Arkansas | 109,777 | 12.14¢ | +5.3% | $108.10 | 890 | – | 428 |
| SWEPCO | Louisiana | 206,984 | 13.85¢ | +2.9% | $162.77 | 1,175 | – | 451 |
| SWEPCO | Texas | 157,119 | 12.60¢ | +4.7% | $146.09 | 1,159 | – | 467 |
| AEP Texas North | Texas | 158,488 | – | – | – | – | 5.86¢ | 133 |
| Kentucky Power | Kentucky | 130,322 | 15.95¢ | +5.8% | $196.99 | 1,235 | – | 911 |
| AEP Texas Central | Texas | 793,896 | – | – | – | – | 5.91¢ | 205 |
| Appalachian Power | Virginia | 467,581 | 17.16¢ | +0.8% | $186.00 | 1,084 | – | 1,116 |
| Appalachian Power | West Virginia | 347,654 | 16.97¢ | +1.2% | $196.40 | 1,157 | – | 1,035 |
| Indiana Michigan Power | Indiana | 425,007 | 17.16¢ | +5.2% | $146.33 | 853 | – | 283 |
| Indiana Michigan Power | Michigan | 112,973 | 17.19¢ | +1.1% | $142.67 | 830 | – | 932 |
Source: EIA-861 annual electric power industry report, 2025 final; EIA-861 annual electric power industry report, 2024 final; EIA-861 2025, reliability. Bundled residential customers (EIA-861 2025 and 2024 final). Delivery only applies where customers can buy supply elsewhere. Outage minutes: SAIDI with major event days, 2025.
Questions and answers
What are AEP's electric rates per kWh?
It depends on the AEP utility and state. In 2025, bundled residential customers paid an average of 16.19¢ per kWh across AEP's utilities, from 12.14¢ per kWh at SWEPCO (Arkansas) to 18.97¢ per kWh1 at AEP Ohio. These are averages of everything billed divided by kWh, not tariff rates; each utility's tariff is filed with its state commission.
Did AEP rates go up in 2026?
At some AEP utilities, yes. In August 20262 (preliminary EIA data), the average residential price changed +24.6% from a year earlier at SWEPCO in Arkansas and +21.8% at Kentucky Power, but −14.6% at Indiana Michigan Power in Indiana and −10.2%3 at Appalachian Power in Virginia.
Can I choose a different electricity supplier in an AEP area?
In Ohio and in the AEP Texas Central and AEP Texas North areas, yes. In 2025, 60.1%1 of residential customers on AEP Ohio's wires bought supply from a competitive supplier or a community aggregation. In the AEP Texas areas, homes buy from a retail electric provider listed on Power to Choose. EIA counts the customers of AEP's other utilities as full-service.
American Electric Power (AEP)'s utility pages
Sources
- EIA-861 annual electric power industry report, 2025 final; table Sales_Ult_Cust_2025; 2025, final; released October 7, 2026. www.eia.gov
- EIA, Electric Power Monthly / EIA-861M sales and revenue by state; table sales_revenue.xlsx (EPM Table 5.6.A); January 2001 to 2026-08; months since January 2026 preliminary; released October 23, 2026. www.eia.gov
- EIA-861M monthly sales and revenue by utility; table sales_ult_cust_2025 and _2026; released October 23, 2026. www.eia.gov
- EIA-861 2025, reliability; table Reliability_2025; 2025, final; released October 7, 2026. www.eia.gov
- EIA-861 2025, advanced meters, dynamic pricing and net metering; table Advanced_Meters, Dynamic_Pricing, Net_Metering 2025; 2025, final; released October 7, 2026. www.eia.gov
- EIA-861 annual electric power industry report, 2024 final; table Sales_Ult_Cust_2024; 2024, final (file updated December 3, 2025); released December 3, 2025. www.eia.gov
How every figure is built: methodology. Found an error? Write to [email protected]; corrections are listed on the updates page.