FirstEnergy customers can expect lower electricity prices beginning this summer

COLUMBUS, OHIO (Jan. 26, 2012) – The Public Utilities Commission of Ohio (PUCO) today approved the results of the fourth in a series of six wholesale auctions that will determine FirstEnergy’s retail generation service rates through May 2014. The auction establishes a new generation price of $53.37 per megawatt hour (MWh) for June 2012 through May 2013, a decrease of 4 percent from the current price of $55.60 per MWh.

During the 16-round auction, six competitive suppliers submitted winning bids for the opportunity to provide electricity to FirstEnergy customers. The names of the winning bidders will remain confidential for 21 days.

CRA International served as the independent auction manager, and Boston Pacific Company, a consultant retained by the PUCO, monitored the auction process. Additional auctions will be held this October and again in January 2013 to set the generation price between June 2013 and May 2014.

Customers continue to have the opportunity to consider competitive options to meet their electricity needs, including shopping for an alternate supplier or joining a local government aggregation group. More information about how to choose a supplier is available at www.PUCO.ohio.gov. The PUCO’s Apples to Apples rate charts provide customers with a snapshot comparison of current electric supplier price options and contract terms. The PUCO updates the charts on a regular basis and verifies each supplier offer to ensure accuracy.

A copy of today’s Commission finding and order and redacted version of the report issued by the auction manager are available at www.PUCO.ohio.gov. Click on the link to DIS and enter the case number 10-1284-EL-UNC.

-30-

The Public Utilities Commission of Ohio (PUCO) is the sole agency charged with regulating public utility service. The role of the PUCO is to assure all residential, business, and industrial consumers have access to adequate, safe, and reliable utility services at fair prices while facilitating an environment that provides competitive choices. Consumers with utility-related questions or concerns can call the PUCO Call Center at (800) 686-PUCO (7826) and speak with a representative.

Subscribe and Unsubscribe to the PUCO Media Release e-mail service