FirstEnergy Corp. (FirstEnergy) announced that its Ohio utilities, Ohio Edison, Cleveland Electric Illuminating Company and Toledo Edison, have received approval from the Public Utilities Commission of Ohio (PUCO) on a portion of Electric Security Plan (ESP). ESP is for the generation rates resulted from the previous bidding process to continue through May 31, 2009.
As a result, the competitive bidding process announced in mid-February for electric generation supply from April 1, 2009, through August 31, 2009, for retail customers of its Ohio utilities has been cancelled.
The portion of the ESP dealing with the competitive bidding process to establish
generation supply and pricing for two years beginning June 1, 2009, is pending before the PUCO.
The companies have reached agreements with the Staff of the PUCO and more than 30 intervening parties to their ESP case that, if approved, would provide price certainty and other substantial customer benefits over the term of the plan. Those supporting the ESP include: Office of Ohio Consumers’ Counsel; Northeast Ohio Public Energy Council; Ohio Schools Council; Ohio Hospital Association; City of Akron; City of Cleveland; City of Toledo; Council of Smaller Enterprises; Ohio Partners for Affordable Energy; and the Association of Independent Colleges and Universities of Ohio.