COLUMBUS, OHIO - The Public Utilities Commission of Ohio (PUCO) today adopted an agreement establishing an electric security plan (ESP) for FirstEnergy. The ESP will be in effect from June 1, 2014 through May 31, 2016.FirstEnergy will continue to secure generation resources for its default service customers through a series of competitive bidding auctions. An independent bid manager will conduct four auctions between Oct. 2013 and Jan. 2015. Auctions previously scheduled to occur in Oct. 2012 and Jan. 2013 will now be for a three year period and blended with subsequent auctions.
"Today's decision supports the already growing competitive marketplace in Ohio," stated PUCO Chairman Todd. A. Snitchler. "By blending upcoming auctions we're able to mitigate potential future market fluctuations, ensuring more favorable rates for FirstEnergy customers over the long term."
Throughout the term of the ESP, FirstEnergy's base distribution rates will remain frozen. FirstEnergy will contribute $9 million towards low-income fuel fund programs in 2015 and 2016. The company will commit nearly $3 million to support energy efficiency, economic development and job retention activities within their service territory.
On April 13, 2012, FirstEnergy filed a stipulation to establish an electric security plan for the period June 1, 2014 through May 31, 2016. The stipulation was signed by a wide range of stakeholders including, FirstEnergy, PUCO staff, Ohio Energy Group, Ohio Manufacturers Association, Industrial Energy Users-Ohio, Ohio Partners for Affordable Energy, Association of Independent Colleges and Universities of Ohio, Ohio Hospital Association, Nucor Steel Marion, Inc., Council of Smaller Enterprises, Material Sciences Corporation, Empowerment Center of Greater Cleveland, Consumer Protection Association, Cleveland Housing Network, the city of Akron and Morgan Stanley Capital Group, Inc. In June, the PUCO held local public hearings in Akron, Toledo and Cleveland.
A copy of today's Commission opinion and order is available at www.PUCO.ohio.gov . Click on the link to the Docketing Information System (DIS) and enter the case number 12-1230-EL-SSO.