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FirstEnergy's Sixth Electric Security Plan: a Commitment to Reliability and Customer Care

In a move aimed at bolstering the electric grid while simultaneously offering enhanced customer support, FirstEnergy Corp.'s Ohio electric companies—Ohio Edison, The Illuminating Company, and Toledo Edison—have submitted their sixth Electric Security Plan (ESP) to the Public Utilities Commission of Ohio (PUCO). This comprehensive plan not only emphasizes reliability investments but also introduces programs lined up to assist customers in managing and reducing their electric bills.

A Commitment to Investment and Modernization

The ongoing plans require electric service providers in Ohio to submit proposals to guarantee quality service to their clients, and ESP6 represents FirstEnergy's commitment to improving the grid effectively and economically. According to Torrence Hinton, the President of FirstEnergy's Ohio operations, the proposed plan is specifically designed to sustain the company’s financial responsibility while ensuring continued and essential investments in Ohio's electric infrastructure. He stated, "We believe this plan supports our Ohio electric companies' ongoing investments in the electric system in a cost-conscious manner for our customers."

One of the key components of ESP6 includes maintaining the option for consumers to select their energy suppliers. The plan also seeks to enhance participation in the auction process designed to capture the best pricing and energy supply rates for those relying solely on their utility service provider. This strategic enhancement aims to keep electric bills affordable for customers who may not actively shop for different energy alternatives.

Plan Details and Duration

The proposed ESP would begin once new base rates are approved and would remain effective until May 31, 2028. The plan encompasses significant investments necessary for the electric system, focusing on grid modernization, maintenance tasks like storm restoration, energy efficiency initiatives, and financial assistance measures for customers.

Additionally, the ESP6 emphasizes better maintenance practices for the distribution grid. An improved tree-trimming program is highlighted, aimed at swiftly addressing the removal of trees and foliage, which often cause outages during severe weather conditions.

Tailored Programs for Energy Efficiency

FirstEnergy has integrated programs specifically geared to support residential users, such as a smart thermostat rebate initiative and a low-income energy efficiency program. These programs aim to empower customers to save energy, lower their bills, and, importantly, mitigate their environmental footprint. The plan continues to support demand response programs tailored for commercial and industrial clients, further promoting energy efficiency across different sectors.

Moreover, the company pledges to invest $6.5 million yearly throughout the ESP's duration without seeking recovery from customers. This investment will focus on various customer assistance programs including financial aid for low-income households and seniors struggling with their energy bills, helping to enhance flexibility and care for diverse customer needs.

Expected Impact on Customer Bills

If the proposed ESP6 receives approval, average residential customers in the FirstEnergy service area—those consuming about 750 kilowatt-hours per month—should expect an initial rise in their electric bills of around $3.40 per month, representing a 2.7% increase. Over the duration of the plan, customers may see an average increase of about 1.7% on their bills, aligning the costs incurred with the enhancements being made.

About FirstEnergy

Ohio Edison serves over one million customers across 34 counties in Ohio, while The Illuminating Company caters to more than 750,000 customers in major counties such as Ashtabula, Cuyahoga, and Geauga. Toledo Edison supports nearly 315,000 customers in northwest Ohio. With a commitment to safety, reliability, and operational excellence, FirstEnergy operates one of the largest investor-owned electric systems in the country, ensuring essential services to over six million customers across Ohio and neighboring states. Follow FirstEnergy at FirstEnergyCorp.com and on various social media platforms for ongoing updates and company initiatives.