AKRON, Ohio — FirstEnergy Corp. announced Friday that its Ohio electric companies — Ohio Edison, Toledo Edison, and The Illuminating Company — have reached a $275 million settlement resolving multiple proceedings before the Public Utilities Commission of Ohio (PUCO).
The agreement, if approved by PUCO, will provide direct financial relief to customers across Ohio and close four ongoing cases involving corporate separation, Rider DMR, Rider DCR, and the company’s political and charitable spending review.
Under the settlement, all $250 million originally ordered by PUCO on Nov. 19 will be redirected entirely to FirstEnergy’s Ohio customers, instead of partially to the state’s general fund. The company also agreed to add $25 million in additional restitution for residential customers — including $20 million specifically dedicated to low-income bill payment assistance, weatherization, and energy-efficiency programs…