Mon Power, Potomac Edison file rate plan with West Virginia PSC
Mon Power and Potomac Edison have submitted their rate plans to the West Virginia Public Service Commission (PSC).
The proposed $105 million rate adjustment agreement supports investments that have helped create a more reliable and resilient electric system for their customers in West Virginia.
The two subsidiaries of FirstEnergy have grown significantly in the nine years since their last base rate review. They now serve approximately 550,000 customers in West Virginia – 25,000 more than it did in 2014. In the past 10 years, the companies invested more than $1 billion to enhance and maintain the distribution, transmission, and generation systems.
It also includes an Infrastructure Investment Pilot Program to enhance reliability in rural areas by funding projects such as the construction of lines that provide alternative sources of power from different circuits.
Further, the adjustments feature the launch of an Energy Assistance Outreach Team to enhance the company’s ongoing efforts to increase awareness, education, and participation in energy assistance programs available to eligible, low-income customers. In addition, it contains the recovery of costs incurred by Mon Power and Potomac Edison from the impact of major storms, along with depreciation rate changes to cover costs associated with distribution and transmission facilities and Mon Power’s West Virginia generating plants.
If approved, the monthly bill for an average residential customer using 1,000 kilowatt hours per month would increase by 8 percent or $9.94 beginning March 27, 2024.
“We’re pleased to have reached an agreement that supports our important investments that strengthen the energy grid, funds reliability programs targeting rural communities and offers additional assistance to our customers facing financial hardship. We consistently explore avenues for settling cases to streamline processes and minimize expenses for the state and stakeholders,” Jim Myers, president of FirstEnergy’s West Virginia Operations, said.
Parties to the rate review settlement include staff of the Public Service Commission of West Virginia, the Consumer Advocate Division of the Commission, the West Virginia Energy Users Group, Longview Power, West Virginia Citizen Action Group, Solar United Neighbors, and Energy Efficient West Virginia.
