AEP Ohio is proposing a new plan to improve the reliability of power grids but it would mean a price hike for customers.

AEP Ohio filed a six-year electric security plan application.

If approved, the utility would invest $2.2 billion in projects during a six-year period, starting in June of 2024.

The money would be spent on improving aging equipment and investing in technology to make the power grid more reliable.

The average monthly rate increase for customers would be two percent, or four dollars, during that six-year term.

That’s about an extra $48 a year.