The state's advocate for residential utility customers says American Electric Power's proposed rate plan could raise next summer's rates for many Ohio customers by 31 percent.
The office of the Ohio Consumers' Counsel said Tuesday that the proposal would shift rates for generating electricity, leaving residential customers paying more in relation to commercial and industrial users. It argues instead for a uniform rate change across all categories.
AEP spokeswoman Terri Flora says the shift would bring rates more in line with actual costs and reflect an increasingly competitive market. She says 2012 increases for all customer categories would average about 1.5 percent.
Corn prices fell Monday after storms delivered rain to crops that had been baking in a heat wave across much of the Midwest.
Corn for December delivery fell 11 cents to settle at $6.745 a bushel. Other commodities were mixed as congressional leaders continued to debate ways to raise the U.S. debt limit, and cut spending.
Rain fell last weekend across much of the Midwest, including Illinois, Indiana and Ohio where crops have been affected by hot, dry weather. The precipitation was enough to stabilize the crop, but Northstar Commodity Research analyst Jason Ward says growers are "going to need more rain."
Regional banking company Fifth Third Bancorp says its second-quarter earnings more than doubled as credit trends continued to improve.
The Cincinnati-based company reports net income of $328 million for April, May and June. That compares with earnings of $130 million in the same period a year ago. Some analysts expect earnings-per-share of 28 cents.
Fifth Third says it saw growth in mortgage banking, credit card and corporate banking revenue. They operate more than 1,300 banking centers in 12 states.
The Greene Town Center, LLC, believes it should be relieved of a $14.8 million dollar tax set aside for Greene County.
The Greene's owners filed a lawsuit in April against Greene County officials instructing the county to perform its legal duties according to the Feb. 1, 2005, contract that sets the terms to retire the letter of credit.
According to the Dayton Daily news, Owners of The Green believe they have met the conditions of that contract, but County Administrator Howard Poston disagrees. He says the company has not reached the agreed-upon amount to retire the letter of credit, and says that may be due to a simple misinterpretation