FirstEnergy Ohio firms file plan to invest in grid security, customer assistance and energy efficiency
With submission of a proposed Electric Security Plan (ESP) this week to state regulators, Ohio Edison, Cleveland Electric Illuminating Company and Toledo Edison sought to bolster their investments into distribution modernization and to launch new customer assistance programs and energy efficiency initiatives.
All three companies are FirstEnergy Corp. companies. Together, they jointly submitted a plan to the Public Utilities Commission of Ohio (PUCO). They, like all Ohio utilities, were required to file plans to establish electric service, and this year’s represents their fifth submission.
“Our plan will build on the significant enhancements we’ve made to reinforce the grid against progressively stronger storms,” Patricia Mullin, acting president of FirstEnergy’s Ohio operations, said. “We’re committed to making the right investments to ensure a modern, more reliable grid while also keeping electric bills affordable, and we will continue working with interested stakeholders to ensure an open and thorough review of our proposal.”
This plan would last for eight years, running from June 1, 2024, through May 31, 2032. It includes new investments into the distribution system for modernization and maintenance, including $626 million for the Grid Modernization II plan and tree trimming. It also would add energy efficiency programs for residential and commercial customers and bill assistance such as low-income bill payment assistance program, senior citizen bill discount program and measures to boost deployment of electric vehicles and energy storage. The latter efforts will use $52 million without recovery needed from customers.
If approved, the plan could initially increase the average FirstEnergy Ohio residential customer’s monthly bills by about $3.11, or 2.2 percent, over their current electric bills. Annually, bills should rise about 0.5 percent beyond that.
In return, customers would also gain new abilities to manage their electric bills. Further, the plan maintains an auction process for pricing and supply of electricity, allowing customers to either select their own energy supplier or guarantee competitively priced electricity by increasing interest in the auction from energy suppliers.
