PUCO credits $43M back to FirstEnergy customers

August 7, 2013 at 4:00p.m.

COLUMBUS (AP) — Ohio utility regulators have ordered FirstEnergy to credit $43.3 million back to customers that the company overcharged them for renewables' purchases in Ohio’s developing alternative-energy market.

The Public Utilities Commission of Ohio voted unanimously on the order today, for the first time putting a dollar figure on excess costs the Akron-based utility passed on to customers. The company has the right to appeal.

Portions of audits detailing estimates of the overcharges have been blocked from public view because of confidentiality claims by the company, and PUCO Chairman Todd Snitchler said those figures will remain secret.

He said he is confident in the figure arrived at in today’s order. An earlier estimate by an environmental group put the excess payments between $96 million and $126 million.