FirstEnergy's Companies Reach $275M Settlement With Public Utilities Commission Of Ohio

FirstEnergy Corp.'s Ohio electric companies – Ohio Edison, Toledo Edison and The Illuminating Company – have reached an agreement with parties to settle multiple Public Utilities Commission of Ohio (PUCO) matters and provide $275 million to FirstEnergy's Ohio customers. 

The settlement resolves four PUCO proceedings – the Corporate Separation, Rider DMR and Rider DCR matters that were the subjects of the PUCO's Nov. 19 orders and the pending Political and Charitable Spending review. The PUCO's Nov. 19 orders directed the companies to pay $250 million, with $64 million going to the state general fund. If approved by the PUCO, the settlement will direct all $250 million to all customers and add $25 million exclusively for residential customers.