On Monday, FirstEnergy Corp’s Ohio Electric companies – Ohio Edison, The Illuminating Company, and Toledo Edison — reached a settlement on their Grid Modernization (Grid Mod) II plan.
If approved by the Public Utilities Commission of Ohio (PUCO), the $421 million plan will upgrade the system and install approximately 706,000 smart meters across Ohio. The plan builds upon Grid Mod I approved in 2019, and will also include all supporting communication infrastructure and data management for the upgrade.
“At the heart of it all, smart meters are about empowering our customers to make informed decisions about their energy usage and costs,” Patricia Mullin, Acting President of FirstEnergy’s Ohio Operations, said. “With accurate and detailed billing information each month, customers can now take control of their energy costs. We look forward to further modernizing our electric system by building on what we completed under Grid Mod I.”
Parties to the settlement include the Citizens Utility Board of Ohio, Environmental Law & Policy Center, Interstate Gas Supply, LLC., The Kroger Co., Northeast Ohio Public Energy Council, Ohio Energy Group, Ohio Energy Leadership Council, Ohio Environmental Council, The Ohio Manufacturers’ Association Energy Group, Retail Energy Supply Association and Walmart Inc.
The proposed settlement will provide customers with more control over their energy use, including the allotment of $3 million per year for the Smart Thermostat Rebate program that will give eligible residential customers up to $100 per qualified smart thermostat, and give low-income customers at or below 300 percent of the poverty level a rebate of up to $150 for the purchase of a new, qualifying smart thermostat.
Officials said the plan would increase the average residential customer using 750 Kw hours per month by about $1.50 per month. Customers will also receive a small, one-time credit for costs associated with a previously approved grid modernization pilot program.
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