FirstEnergy, a diversified energy company, has said that its Ohio electric utility companies have signed a Supplemental Stipulation with the City of Akron and Council of Smaller Enterprises (COSE) to coordinate for energy efficiency projects and programs, under the company's Electric Security Plan (ESP).

These companies including Ohio Edison, Cleveland Electric Illuminating and Toledo Edison join the original 15 signatory parties that support the ESP, which was filed with the Public Utilities Commission of Ohio (PUCO) on March 23, 2010.

These programs would be designed to help customers save energy and money on their monthly electric bills. COSE would receive $150,000 and the City of Akron would receive $300,000 over the three-year term of the plan.

In addition to the City of Akron and COSE, the ESP is supported by a number of parties, including the PUCO Staff, the Ohio Schools Council, the City of Cleveland, Ohio Partners for Affordable Energy, hospitals, manufacturers and competitive electricity suppliers.

Under the proposed ESP, base distribution rates would remain in place through May 31, 2014, and the companies would be given the opportunity to recover costs related to capital investments in the electrical system.

Even with this cost recovery, the average price per kilowatt-hour that customers pay for distribution would remain the same for the three-year term of the plan, which also outlines a competitive bidding process that would be used to establish generation supply and pricing for customers who do not choose alternative suppliers.

In addition, the companies would provide $3m for economic development and jobs support in their service territories and $1.5m for low-income customer assistance programs.

Anthony Alexander, president and CEO of FirstEnergy, said: ”We are pleased to have the support of the City of Akron – one of our largest communities – and COSE for our ESP.

”This Supplemental Stipulation provides further benefits to residential and small business customers and underscores the widespread support of our plan.”