FirstEnergy secured PUCO approval for a comprehensive settlement that provides $275 million in restitution to Ohio Edison, The Illuminating Company and Toledo Edison customers. The agreement resolves four regulatory proceedings, including the Corporate Separation Rider, Rider DMR, Rider DCR and Political and Charitable Spending review. Of the total, $250 million will be returned directly to customers and an additional $5 million in credits will go to residential accounts. An average household consuming 1,000 kWh per month will receive roughly $65.61 in bill credits over three months. The settlement also earmarks $20 million for low-income assistance, weatherization and energy-efficiency programs, bolstering support for vulnerable customers across FirstEnergy’s Ohio service territories.

Combining the settlement with the proposed November rate review order, residential customers using 1,000 kWh will see immediate monthly bill reductions of $17.81 for Toledo Edison, $13.27 for Ohio Edison and $1.02 for The Illuminating Company. When temporary credits expire, the net changes versus January 2026 bills are estimated at a $3.08 reduction for Toledo Edison, a $2.42 increase for Ohio Edison and a $13.69 increase for The Illuminating Company. These adjustments reflect PUCO’s ongoing oversight and set the stage for FirstEnergy’s planned $14 billion investment in transmission, distribution and workforce enhancements through 2029, aimed at improving reliability and resilience.

FirstEnergy Transmission, LLC, a wholly owned subsidiary, extended its exchange offer expiration to January 21, 2026, for up to $450 million principal amount of 4.750% Senior Notes due 2033. As of the prior deadline, $449.48 million, or 99.88% of the outstanding notes, had been tendered. The exchange provides registered notes under the Securities Act of 1933, enhancing liquidity and broadening the investor base. The terms are outlined in the December 5, 2025 prospectus filed with the SEC as part of the Form S-4 registration. Holders seeking documentation can obtain materials from U.S. Bank Trust Company, the exchange agent.

By finalizing regulatory proceedings and extending the note exchange offer, FirstEnergy strengthens its credit profile and improves capital structure flexibility. The resolution of legacy rate cases removes overhang from PUCO investigations, while the successful tender of senior notes underpins the company’s ability to access capital markets on favorable terms. Management emphasizes that these actions align with its long-term strategy to maintain investment-grade ratings, fund grid modernization and deliver shareholder value without depending on incremental equity issuances.