FirstEnergy files for $165M rate increase, cites low wholesale electric rates
CLARKSBURG — FirstEnergy, parent company of Mon Power and Potomac Edison, has filed for a $165 million rate increase with the state Public Service Commission.
The proposed rate increase is part of the companies’ expanded net energy cost (ENEC) filing, an annual adjustment to account for changes in the price of fuel and in the price of electricity purchased from the regional grid, known as the PJM Interconnection.
In direct testimony filed with the PSC, FirstEnergy officials calculate that the average customer using 1,000 kilowatt hours of electricity would see his or her monthly bill increase from $100.49 to $109.28. The officials cite low wholesale electricity prices on the PJM as the reason for the proposed rate increase.