Agreement with key stakeholders expands
customer deployment of smart meter
technology
AKRON,
Ohio, April 15, 2024 /PRNewswire/ -- FirstEnergy
Corp.'s (NYSE: FE) Ohio electric
companies – Ohio Edison, The Illuminating Company and Toledo Edison
– have reached a settlement on their Grid Modernization (Grid Mod)
II plan that will expand the deployment of smart meters to an
additional 1.4 million customers in Ohio.
If approved by the Public Utilities Commission of Ohio (PUCO), the four-year, $421 million plan will build upon system upgrades
completed as part of the companies' Grid Mod I plan approved in
2019, including installation of approximately 706,000 smart meters
across Ohio along with the
necessary supporting communications infrastructure and data
management system.
Read the full settlement on the PUCO's website at
https://dis.puc.state.oh.us/ViewImage.aspx?CMID=A1001001A24D12B65036D02059.
Parties to the settlement include the Citizens Utility Board of
Ohio, Environmental Law &
Policy Center, Interstate Gas Supply, LLC., The Kroger Co.,
Northeast Ohio Public Energy Council, Ohio Energy Group, Ohio
Energy Leadership Council, Ohio Environmental Council, The Ohio
Manufacturers' Association Energy Group, Retail Energy Supply
Association and Walmart Inc.
Patricia Mullin, Acting
President of FirstEnergy's Ohio Operations: "At the heart
of it all, smart meters are about empowering our customers to make
informed decisions about their energy usage and costs. With
accurate and detailed billing information each month, customers can
now take control of their energy costs. We look forward to further
modernizing our electric system by building on what we completed
under Grid Mod I."
In the future, smart meter benefits also will include the
ability to detect and locate outages more quickly and provide more
accurate and timely storm restoration information.
The proposed settlement will also enhance the customer
experience by giving them more control over their energy use,
including allotting $3 million per
year for a Smart Thermostat Rebate program that will allow eligible
residential customers to receive up to $100 per qualified smart thermostat. Low income
customers who are at or below 300% of the federal poverty level
will be eligible for a rebate of up to $150 for the purchase of a new, qualifying smart
thermostat.
If approved by the PUCO, a typical FirstEnergy Ohio utility
residential customer using 750 kilowatt-hours of electricity per
month on average could expect to see an increase of about
$1.50 per month for the length of the
Grid Mod II plan. Customers will also receive a small, one-time
credit for costs associated with a previously approved grid
modernization pilot program.
Rising energy costs may cause concern for customers. To help
them manage their bills, FirstEnergy's Ohio companies offer budget plans, special
payment plans and access to energy assistance programs. To apply or
learn more about other utility bill assistance programs, customers
are encouraged to visit firstenergycorp.com/billassist or contact
customer service at 1-800-633-4766.
FirstEnergy is dedicated to integrity, safety, reliability and
operational excellence. Its electric distribution companies form
one of the nation's largest investor-owned electric systems,
serving customers in Ohio,
Pennsylvania, New Jersey, West
Virginia, Maryland and
New York. The company's
transmission subsidiaries operate approximately 24,000 miles of
transmission lines that connect the Midwest and Mid-Atlantic
regions. Follow FirstEnergy on X, formerly known as Twitter,
@FirstEnergyCorp or online at firstenergycorp.com.
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SOURCE FirstEnergy Corp.