Published August 01, 2008 05:31 pm - FirstEnergy Corp.’s Ohio Edison electric company is seeking to raise rates 15.3 percent, which would be spread over three years.
Ohio Edison Co. is looking to raise rates 15.3 percent
Herald staff
BROOKFIELD, EASTERN OHIO
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FirstEnergy Corp.’s Ohio Edison electric company is seeking to raise rates 15.3 percent, which would be spread over three years.
Ohio Edison filed the request Thursday with the Ohio Public Utilities Commission, which, if approved, would be the first increase in base rates since 1990.
The filing by Ohio Edison was a comprehensive rate filing that included FirstEnergy’s two other electric companies in Ohio: Cleveland Electric Illuminating Co. and Toledo Edison Co.
Under the plan, total customer rates –– including generation, transmission and distribution –– would increase an average of 5.3 percent in 2009, 4 percent in 2010 and 6 percent in 2011.
The percentage increases in each year are based on all three FirstEnergy company customers covering all classes of customers. Depending on consumption and customer class, the rates could be higher or lower.
The typical monthly bill for an Ohio Edison residential customer based on 1,000 kilowatt-hours a month would drop $2.33 in 2009 to $124.91 from the current $127.24. In 2010 that bill would rise $4.08 to $128.99 and then in 2011 the bill would increase $4.89 to $133.88.
FirstEnergy companies were among two major electric companies in Ohio to request higher rates.
American Electric Power seeks to raise its rates 45 percent over three years.
Ohio Consumers’ Counsel Janine Migden-Ostrander said AEP’s hike would be one of the largest electric-rate increases her office has seen during its 31 years. She says the proposed rates are more than consumers can handle as they also deal with high costs for gasoline and natural gas.
AEP says it needs to charge more, partly because it’s contending with soaring prices for coal.
The consumers’ counsel says FirstEnergy’s plan also needs regulatory scrutiny.