Company Announcements

Filing details planned investments to enhance reliability and keep rates predictable

AKRON, Ohio , May 26, 2026 /PRNewswire/ -- FirstEnergy electric companies The Illuminating Company, Ohio Edison and Toledo Edison have filed their first Three-Year Rate Plan (TYRP) with the Public Utilities Commission of Ohio (PUCO). The plan supports strengthening the electric system to improve reliability and provides customers with more predictable rate changes.

The TYRP details how investments will be planned, reviewed and reported annually. This gives regulators and customers greater visibility into how money is spent and what work is being done.

"At a time when so many customers are carefully managing household and business expenses, we understand how important it is to provide reliable service while keeping bills as manageable and predictable as possible," said Torrence Hinton, President of FirstEnergy Ohio. "This plan supports the investments needed to strengthen the electric system and improve reliability, while giving customers more visibility into the work we're doing and helping avoid sudden increases that can be difficult for families and businesses to absorb."

Reliability Customers Can Count On

The TYRP is built around forward‑looking investments in the electric system, building on work already underway and planning for future improvements. Under the plan, an average of $800 million per year would be invested in infrastructure upgrades, including neighborhood poles, wires and grid technology to help reduce outages and restore power faster. An average of $83 million annually would support more tree trimming and vegetation management to address one of Ohio's leading causes of outages.

Expanded Bill Assistance for Customers

A major focus of the TYRP is supporting customers who need help paying their electric bills by extending existing programs and adding new ones, including:

• Creating a new $4 million Energy Assistance Fund in 2029 by combining the OPAE Fuel Fund and Ohio Fuel Fund programs – which currently provide bill assistance to customers through mid-2029 – and opening eligibility to more customers. The cost of these programs is not passed on to customers.
• Adding a $1 million Emergency Energy Support Fund to assist customers facing disconnection or needing to restore service.

The plan also continues energy-saving programs for residential and some business customers through the end of the TYRP, including:

• A Community Connections weatherization program that helps income-eligible customers take more control over their energy spending.
• A smart thermostat rebate program that helps income-eligible customers better manage their heating and air conditioning use.
• A customer energy management program that helps customers with smart meters better understand their electricity use and find ways to reduce it.
• An energy conservation program that helps large customers lower their bills by reducing electricity use when the grid is under the most strain.

Steady, Predictable Bill Changes

By spreading investments over three years, the TYRP helps keep bill changes gradual and easier for customers to manage.

A typical non-shopping residential customer using about 1,000 kilowatt-hours per month is expected to see a modest average monthly bill change over the three-year period:

• Ohio Edison – average annual increase of 2.2%, or a monthly bill increase of $4.26 each year of the three-year period. 
• The Illuminating Company – average annual increase of 2.6%, or a monthly bill increase of $5.15 each year of the three-year period.
• Toledo Edison – average annual increase of 2.8%, or a monthly bill increase of $5.30 each year of the three-year period. 

The plan only affects the distribution part of customer bills. It does not include the cost of electricity supply, which is set by third-party suppliers.

The PUCO will review the filing and provide opportunities for public input before making a decision. 

FirstEnergy Corp. (NYSE: FE) 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 six million 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 online at www.firstenergycorp.com. Follow FirstEnergy on X: @FirstEnergyCorp.

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SOURCE FirstEnergy Corp.