FirstEnergy to provide $275 million to Ohio customers in settlement
FirstEnergy will provide $275 million to Ohio customers through a settlement resolving regulatory matters with the PUCO.Summary
FirstEnergy Corp. has reached a settlement agreement with the Public Utilities Commission of Ohio (PUCO) to provide $275 million to its Ohio customers, resolving several regulatory proceedings. The agreement ensures that all $250 million originally ordered by PUCO will go directly to customers, rather than a portion being directed to the state’s general fund, and adds an additional $25 million specifically for residential customers, including $20 million for low-income assistance programs. Torrence Hinton, FirstEnergy President for Ohio, stated the company “appreciates the dedication and collaboration” that led to the agreement. The credits will be applied to customer bills in 2026. FirstEnergy also plans to invest $14 billion in Ohio’s infrastructure between 2025 and 2029. Recent company news includes a quarterly dividend of 44.5 cents per share and an exchange offer for its Senior Notes, as well as price target adjustments from Jefferies and Mizuho.
(Source：Investing Canada)