{"id":4426,"date":"2024-05-16T12:21:50","date_gmt":"2024-05-16T17:21:50","guid":{"rendered":"https:\/\/www.paenergyratings.com\/blog\/?p=4426"},"modified":"2024-05-16T12:21:52","modified_gmt":"2024-05-16T17:21:52","slug":"first-energy-reverses-rate-increase-to-decrease","status":"publish","type":"post","link":"https:\/\/www.paenergyratings.com\/blog\/first-energy-reverses-rate-increase-to-decrease\/","title":{"rendered":"First Energy Reverses Rate Increase to Decrease"},"content":{"rendered":"\n

First Energy Backing Out of Rate Hike<\/h2>\n\n\n\n
\"First
Learn why First Energy’s Rate hike changed to a decrease. These lower rates mean providers will compete to offer lower priced plans. It won’t last long so shop plans to lock in the cheapest price now!<\/em><\/center><\/figcaption><\/figure><\/div>\n\n\n\n

Good news for First Energy<\/a><\/strong> customers this summer. Previously, First Energy<\/strong> had filed for a rate hike for the six month period of June 1, 2024 through November 30, 2024. But, they’ve since backed out of that plan and will be cutting rates instead. So, why the change? There’s a few factors involved, and we’re here to explain them all.<\/p>\n\n\n\n

Rate Hike Reversal Following Investigation by PUC <\/h3>\n\n\n\n

First Energy<\/strong>\u00a0filed a rate review<\/a> on April 2, 2024 to request rate hikes for all their PA utility companies. The company stated that the requested rate hike is for grid improvements and maintenance. Quickly afterwards, formal complaints were filed by both the Office of Consumer Advocate and the Office of Small Business Advocate.<\/p>\n\n\n\n

The Pennsylvania Public Utility Commission<\/a> (PUC) responded to the complaints and voted to suspend the request. They then launched an investigation<\/a> to determine the “lawfulness, justness, and reasonableness of the rates, rules, and regulations contained in the proposed filing.” The suspension of the rate increase will last until January 1, 2025.

In response, First Energy<\/strong> has filed a separate rate request, that does not include the proposed increase for grid improvements and maintenance. Instead, these new rates will all decrease the current PTC rates.<\/p>\n\n\n\n

How Much Will A New First Energy Rate Cost?<\/h3>\n\n\n\n

The new <\/strong>First Energy<\/strong> PA rate<\/a> estimates\u00a0are all based on an average use of 1,000 kWh a month. Your own actual usage, however, will vary.<\/p>\n\n\n\n