PUCO has ordered FirstEnergy’s Ohio utilities to reduce the impact of a recent distribution rate change, citing affordability concerns.
The ruling affects Ohio Edison, Toledo Edison, and Cleveland Electric Illuminating Company. Regulators directed the companies to spread about $245 million in storm restoration costs over 25 years instead of five. That change lowers the annual revenue impact compared to what was approved last November.
Overall, the decision reduces annual revenues for the three utilities by about $39 million compared to the previous order.
Under the new breakdown:
- Ohio Edison will reduce annual revenues by about $24.5 million.
- Toledo Edison will reduce annual revenues by about $29.5 million.
- Cleveland Electric Illuminating will still see an increase, about $48.7 million annually.
The updated rates take effect March 1. The case stems from a 2024 filing by FirstEnergy seeking a broader rate increase.
