FirstEnergy Corporation is asking the state Public Utility Commission for a $502 million rate increase that would increase the average customer’s electric bill 9.2 percent to 11.8 percent across the four energy companies under the corporate umbrella.
For Penelec customers, a $132 million rate increase would raise the average monthly residential customer’s bill 9.8 percent, or $19.79, to $220.75 for 1,000 kilowatt hours. Commercial customers would increase 4.4 percent and industrial customer 1.8 percent.
The company says the new money would enable it to continue modernizing and automate the electricity grid, increase inspections, convert about 85,000 streetlights to LED, remove more than 2.4 million trees and overhanging limbs, increase awareness of energy assistance programs, and eliminate service fees on payments made by credit card. It would also create an electric vehicle pilot program, including the installation of home charging stations.
FirstEnergy’s last rate increase was in January of 2017. If approved, the new rates would take effect June 1st.
