FirstEnergy, advocate clash over rate plan
AKRON, Ohio (AP) — One of Ohio’s largest power companies has filed a new rate proposal that a state utility watchdog says could raise rates by hundreds of millions of dollars in coming decades.
The plan submitted to Ohio regulators by Akron-based FirstEnergy Corp. on Tuesday would allow the company to adjust rates each quarter to pay for upgrades to wires, substations and other equipment.
Ohio Consumers’ Counsel Janine Migden-Ostrander says that could prove expensive for FirstEnergy customers, particularly as the power company shifts control of its lines from a Midwestern grid manager to one in the East.
FirstEnergy maintains it will absorb any costs related to the project and not put a burden on consumers.