FirstEnergy Proposes Three-Year Rate Plan with 2.2% Annual Increases
FirstEnergy will file a three-year rate plan with Ohio regulators on May 22 that proposes annual distribution rate increases of 2.2%, equating to about $4.26 more per month for customers using 1,000 kWh. The TYRP outlines multi-year infrastructure upgrades aimed at enhancing system reliability and smoothing bill changes.
1. Rate Plan Proposal
FirstEnergy plans to submit its three-year rate plan (TYRP) filing to the Public Utilities Commission of Ohio on May 22, 2026. The proposal introduces a predictable schedule of rate adjustments over 2027–2029, replacing single-year filings and providing regulators with annual updates on planned work.
2. Projected Rate Increases
Under the TYRP, the distribution segment of customers’ bills would rise once per year by an average 2.2% for Ohio Edison residential users consuming 1,000 kilowatt-hours, equal to approximately $4.26 additional monthly costs. Actual bills may vary based on individual consumption patterns.
3. Planned Infrastructure Upgrades
Proceeds from the rate increases are earmarked for targeted system upgrades to improve power reliability and asset resilience across Ohio Edison, The Cleveland Electric Illuminating Co. and Toledo Edison territories. FirstEnergy emphasizes clear visibility on project timelines, cost impacts and customer benefits under the multi-year framework.