FirstEnergy Corp. utilities Monongahela Power Co. and Potomac Edison Co. secured the approval of West Virginia state regulators to decrease electric rates by more than $77 million in 2019. The lower rates reflect reduced costs for fuel, purchased power and energy efficiency programs.
A settlement agreement on the electricity rates was negotiated by the utilities, the Public Service Commission of West Virginia staff, the Consumer Advocate Division and the West Virginia Energy Users Group and approved by the commission Jan. 2.
As a result, an average residential customer using 1,000 kWh per month will see a decrease of about 2.2%, or $2.42, in their bill, including $2.13 for fuel and purchased power costs, or in regulatory language, expanded net energy costs, and 29 cents for the elimination of the energy efficiency surcharge, known as the energy efficiency and conservation cost recovery rate. An average commercial customer will see their monthly bill drop to $105.83 from $108.25.
The new rates take effect from Jan. 1 to Dec. 31, FirstEnergy said in a Jan. 3 news release. (West Virginia PSC Case No. 18-1231-E-ENEC)