PUCO adopts new ESP to limit bill increases in Ohio
The Public Utilities Commission of Ohio (PUCO) on Thursday announced the adoption of a modified electric security plan (ESP) featuring stipulations to prevent bill increases for FirstEnergy’s Ohio distribution utilities.
PUCO said that the new ESP will issue a number of updates to FirstEnergy’s utility distributions, including an updated electricity grid and the continued ability for customers to shop for electricity. The update will be effective from June 1 through May 31, 2024.
“The commission order strikes the highly challenging balance between consumers’ interests in cost-effective electric service and the vested interests of other diverse stakeholders,” Chairman Andre T. Porter said. “Today’s opinion and order affirms Ohio’s commitment to encourage a modernized grid and retail competition.”
PUCO also approved the Retail Rate Stability rider that will allow for the use of retail rates within FirstEnergy’s sites locations and territories. PUCO is committed to consumer safety and protection and will monitor FirstEnergy regularly through audits and management of the RRS program. As a result, utility base distribution rates will remain frozen during the eight year term of the new ESP.
The initiative is an effort to promote economic development throughout the state by keeping utilities affordable for low- and middle-income households. FirstEnergy is committed to job retention programs at energy facilities, and is making an effort to reduce its carbon footprint. The company has pledged to reduce 2005 carbon emission levels by 90 percent by 2045.
