Updates on FirstEnergy Rate Changes

Friday, December 26, 2008

On December 22, 2008 FirstEnergy Corp. rejected the reductions the Public Utilities Commission of Ohio (PUCO) made last week (12/19/08) to its three-year rate plan and made it clear it intends to use wholesale market prices to set consumer rates. In addition to withdrawing the rate proposal that state regulators reduced, the Akron-based utility said its Ohio companies would buy power from wholesale suppliers for the first three months of 2009. This move stands to significantly impact rates beyond the first quarter of 2009, and could also lead to extended negotiations or legal proceedings between the state and FirstEnergy. See this article to read more details.

Click here to read recent updates and articles regarding FirstEnergy rates.

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