Akron, Ohio, October 25, 2011 — FirstEnergy Solutions, a unit of FirstEnergy Corp., announced its support for a comprehensive settlement agreement in the Duke Energy Ohio Electric Security Plan rate proceeding that gives all Duke Energy Ohio customers access to competitive markets beginning January 1, 2012.
The proposed agreement gives Duke Energy Ohio customers access to market-based electricity that is now at low prices and continues an environment where all customers — residential, commercial and industrial — can shop for competitive offers from a variety of retail electric suppliers without facing artificial barriers.
The proposal also provides for a 5 percent discount for Percentage of Income Payment Plan customers.
Under the settlement, Duke Energy Ohio will conduct market-based generation supply auctions beginning in December 2011 to serve customers who do not shop and continue to receive generation service from the utility. Capacity also will be available to all customers in the Duke Energy Ohio service territory at market-based pricing on a non-discriminatory basis.
The comprehensive agreement — supported by more than 25 stakeholders, including all key parties involved in Duke Energy Ohio's ESP proceeding — requires approval by the Public Utilities Commission of Ohio.
FirstEnergy Solutions serves more than 1.5 million customers in Ohio, Pennsylvania, New Jersey, Maryland, Michigan and Illinois. The company has a total generating capacity of nearly 23,000 MW.