Proposal includes programs aimed at helping
customers better manage their electric bills
AKRON,
Ohio, Jan. 31, 2025 /PRNewswire/ -- FirstEnergy
Corp.'s (NYSE: FE) Ohio electric
companies – Ohio Edison, The Illuminating Company and Toledo Edison
– have filed a proposed Electric Security Plan (ESP) with the
Public Utilities Commission of Ohio (PUCO) that supports their commitment to
investing in and maintaining the electric grid while providing
customer assistance programs and energy efficiency initiatives that
help customers manage and control their electric bills.
Utilities in Ohio are required
to file plans to establish electric service for their customers,
and this proposal is FirstEnergy's sixth ESP (ESP6).
Torrence Hinton, FirstEnergy's
Ohio President: "We believe this plan supports our
Ohio electric companies' ongoing
investments in the electric system in a cost-conscious manner for
our customers. We're committed to making the right investments to
ensure a modern, more reliable grid, and we will continue working
with interested stakeholders to ensure an open and thorough review
of our proposal."
ESP6 preserves the ability for
customers to select their own energy supplier and maintains an
auction process to determine the pricing and supply of electricity
for customers who rely on their company for all aspects of their
electric service. The plan also retains recent enhancements to the
auction process aimed at boosting participation by energy suppliers
– which will help keep bills as low as possible for customers who
don't shop.
The companies propose that the ESP6 term would begin upon the approval of new
base rates and extend through May 31,
2028. ESP6 supports additional
investments in the electric system, including grid modernization,
maintenance such as storm restoration work and increased tree
trimming, energy efficiency programs and bill assistance measures
that aim to keep customers' needs and expectations top of mind. The
plan includes:
- Provisions to enable the companies' continued maintenance of
the distribution grid, including an enhanced tree-trimming program
to accelerate the removal of trees and brush, which are a leading
contributor to outages during major weather events.
- Energy efficiency programs for residential customers, including
a smart thermostat rebate program and a low-income energy
efficiency program, to help them save energy, reduce their bills
and ease their environmental impact, as well as continuing the
companies' demand response program for commercial and industrial
customers.
- Commitment to spend $6.5 million
each year of the ESP, without recovery from customers, on
initiatives to assist customers and enhance the customer
experience, including low-income and senior citizen bill payment
assistance programs.
If ESP6 is approved, the average
FirstEnergy Ohio residential customer using 750 kilowatt-hours of
electricity per month could expect to see an initial increase of
approximately $3.40, or 2.7%, on
their electric bill. Over the term of the plan, the estimated
average impact on these customers' bills is an increase of
1.7%.
Ohio Edison serves more than 1
million customers across 34 Ohio
counties. Follow Ohio Edison on X @OhioEdison and on
Facebook at facebook.com/OhioEdison.
The Illuminating Company serves more than 750,000 customers
across Ashtabula, Cuyahoga, Geauga, Lake
and Lorain counties. Follow The
Illuminating Company on X @IlluminatingCo and on Facebook
at facebook.com/IlluminatingCo.
Toledo Edison serves nearly
315,000 customers in northwest Ohio. Follow Toledo Edison on
X @ToledoEdison or on Facebook
at facebook.com/ToledoEdison.
FirstEnergy is dedicated to integrity, safety, reliability and
operational excellence. Its electric distribution companies form
one of the nation's largest investor-owned electric systems,
serving more than six million customers in Ohio, Pennsylvania, New
Jersey, West Virginia,
Maryland and New York. The company's transmission
subsidiaries operate more than 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.
