FirstEnergy to cut rates

COLUMBUS (AP) — Ohio regulators say FirstEnergy Corp. will cut its Ohio customers’ rates as the result of an auction.

In a ruling Thursday, the Public Utilities Commission of Ohio called for a 12.6 percent reduction for FirstEnergy’s Toledo Edison customers, a 16 percent cut at Ohio Edison and a 7.4 percent reduction from the Cleveland Electric Illuminating Co. for its rate payers. Starting in 2007, FirstEnergy resisted state re-regulation and won the right to use bidding among wholesale power suppliers to determine its rates.