FirstEnergy Ohio utilities to extend electric security plan

Akron, Ohio, April 16, 2012 — FirstEnergy Corp.'s Ohio utilities filed an application with the Public Utilities Commission of Ohio to essentially extend their current Electric Security Plan for two more years.

If approved by the PUCO, the extension would allow the FirstEnergy Ohio utilities — Ohio Edison, Cleveland Electric Illuminating and Toledo Edison — to establish electricity prices for their customers through May 31, 2016.

The current ESP, which ends May 31, 2014, has resulted in price certainty as well as more than $10 million in annual economic development funding and low-income assistance to FirstEnergy's utility customers and communities in Ohio.

Since the plan took effect last June, electric generation rates for non-shopping customers have already dropped by nearly 9 percent through the use of competitive auctions for securing electricity supply.

The Ohio utilities are seeking PUCO approval by May 2 to position the company to provide additional megawatts of PJM-qualified energy efficiency and demand response resources into the May 7, 2012 PJM capacity auction for the 2015-2016 planning year.

Demand response contracts provide financial incentives for electricity customers who agree to reduce their electric consumption during periods of peak demand, or in response to market prices. By extending their ESP, FirstEnergy's Ohio utilities would be able to bid these resources into the PJM auction for 2015-2016.

Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now

Whitepapers

Logistics Risk Management in the Transformer Industry

Transformers often are shipped thousands of miles, involving multiple handoffs,and more than a do...

Secrets of Barco UniSee Mount Revealed

Last year Barco introduced UniSee, a revolutionary large-scale visualization platform designed to...

The Time is Right for Optimum Reliability: Capital-Intensive Industries and Asset Performance Management

Imagine a plant that is no longer at risk of a random shutdown. Imagine not worrying about losing...

Going Digital: The New Normal in Oil & Gas

In this whitepaper you will learn how Keystone Engineering, ONGC, and Saipem are using software t...

Latest PennEnergy Jobs

PennEnergy Oil & Gas Jobs