The Pennsylvania Public Utility Commission has approved a settlement that will reduce a proposed rate increase requested by FirstEnergy Pennsylvania Electric Company.
The commission voted 5-0 to approve the revised rate increase request that will still generate an increase of $225 million annually after the PUC’s Office of Administrative Law Judge held hearings over the summer and issued a recommended decision.
The FirstEnergy rate increase request, filed on April 2nd, would have increased operating revenues by approximately $504 million per year across their four rate districts which works out to about 34 percent.
Under the settlement, the average monthly bill for a residential customer in the West Penn rate district will increase by just over six percent or an average of about $9. The settlement also includes enhanced customer assistance and reliability initiatives. Customers could also see a one-time bill credit as First Energy refunds nearly $14 million to customers for improperly allocated lobbying expenses.
FirstEnergy provides service to more than two million customers in 56 counties across the state. This FirstEnergy rate increase goes into effect January 1st and no further changes will be sought for at least two years.
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