FirstEnergy agrees to $306M refund to Ohio customers

By MARK GILLISPIE
Associated Press

CLEVELAND (AP) — One of the nation’s largest utility holding companies has agreed to refund customers of its three Ohio electric companies $306 million for collecting significantly excessive profits over a three-year period. The settlement between Akron-based FirstEnergy Corp. and the Ohio Consumers’ Counsel and other groups was announced Monday. It includes $96 million in direct refunds, including $51 million to residential customers. Customer bills will see another $210 million in credits over a four-year period starting in 2022. Consumers’ Counsel Bruce Weston says the refund is a culmination of “hard fought efforts over several years to secure refunds for consumers regarding FirstEnergy’s high profits.”