(WKBN) – A settlement agreement filed Monday with the Public Utilities Commission of Ohio (PUCO) calls for FirstEnergy’s three Ohio utilities to refund customers $306 million.
The agreement would resolve 10 pending regulatory proceedings related to several annual earnings tests, a four-year review of the company’s electric security plan and its energy efficiency audits.
The utilities would refund $96 million, including interest, related to the 2017-2019 earnings tests.
Residential customers would receive a one-time bill credit of $27 and non-residential customers would receive $2.60 per megawatt-hour over six months.
The remaining $210 million would be refunded as a bill credit in increments from 2022-2025.
The unopposed agreement is supported by PUCO staff and over a dozen other groups, including Ohio Edison and the Northeast Ohio Public Energy Council.
The agreement is subject to review and approval from PUCO commissioners.
A copy of the settlement agreement is available on the PUCO website.