Agreements balance work to support system
reliability with customer bill impacts
FAIRMONT, W.Va., Dec. 4, 2023
/PRNewswire/ -- Mon Power and Potomac Edison, subsidiaries of
FirstEnergy Corp. (NYSE: FE), have filed settlement agreements with
the West Virginia Public Service Commission (PSC) that would
resolve two outstanding rate proceedings and emphasize the
companies' continued focus on delivering safe, reliable and
affordable power.
Jim Myers, president of
FirstEnergy's West Virginia
operations: "We're pleased to have reached agreements that
allow us to continue making the important investments that support
our commitment to a smarter energy future while minimizing the
impact on customer bills. Continued focus on cost management and
careful planning will help us keep our West Virginia rates the lowest among
investor-owned utilities in the state and lower than the national
average."
One of the proposed settlements reflects a two-year update of
costs related to Mon Power and Potomac Edison's vegetation
management program. Trees are a leading cause of power outages, and
the companies' vegetation management program plays a key role in
minimizing tree-related service disruptions by keeping transmission
and distribution rights-of-way free of incompatible trees and other
vegetation. Tree-trimming work has been completed along more than
29,000 miles of power lines across more than 107,000 acres in the
past 4 years, resulting in fewer tree-related outages in areas
where trimming has been conducted.
The other proposed settlement encompasses an adjustment to the
Expanded Net Energy Cost (ENEC) rate that reflects higher fuel and
purchased power expenses incurred by the companies. Under a process
established by the PSC in 2007, Mon Power and Potomac Edison
customer bills are adjusted annually to reflect increases or
decreases in the cost of fuel used to generate electricity and
purchased power. Mon Power and Potomac Edison do not profit from
fuel and purchased power costs.
If the settlements are approved by the PSC, the monthly bill for
an average residential customer using 1,000 kilowatt hours per
month would increase by $2.47
beginning Jan. 1, 2024, for the
vegetation management program and by an additional $3.77, effective March 27,
2024, for the ENEC adjustment.
Parties to the ENEC settlement include staff of the Public
Service Commission of West
Virginia, the Consumer Advocate Division of the Commission,
the West Virginia Energy Users Group, the West Virginia Coal
Association, West Virginia Citizen Action Group, Solar United
Neighbors and Energy Efficient West Virginia.
Rising energy costs may cause concerns for customers. To help
them manage their bills, Mon Power and Potomac Edison offer budget
plans, special payment plans and access to energy assistance
programs. To apply or learn more about other utility bill
assistance programs, customers are encouraged to visit
firstenergycorp.com/billassist or contact customer service at
1-800-686-0022 (Mon Power) and 1-800-686-0011 (Potomac
Edison).
Mon Power serves about 395,000 customers in 34 West Virginia counties. Follow Mon Power
at mon-power.com, on X, formerly known as
Twitter, @MonPowerWV, and on Facebook
at facebook.com/MonPowerWV.
Potomac Edison serves about 275,000 customers in seven counties
in Maryland and 155,000 customers
in the Eastern Panhandle of West
Virginia. Follow Potomac Edison at potomacedison.com,
on X @PotomacEdison, and on Facebook
at facebook.com/PotomacEdison.
FirstEnergy is dedicated to integrity, safety, reliability and
operational excellence. Its 10 electric distribution companies form
one of the nation's largest investor-owned electric systems,
serving customers in Ohio,
Pennsylvania, New Jersey, West
Virginia, Maryland and
New York. The company's
transmission subsidiaries operate approximately 24,000 miles of
transmission lines that connect the Midwest and Mid-Atlantic
regions. Follow FirstEnergy online
at firstenergycorp.com and on
X @FirstEnergyCorp.
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SOURCE FirstEnergy Corp.