FirstEnergy subsidiaries file settlement with the Pennsylvania PUC
September 05, 2023
FirstEnergy Corporation’s announced Thursday its subsidiaries – Met Ed, Penelec, Penn Power, West Penn Power, Keystone Appalachian Transmission Company (KATCO), and Mid-Atlantic Interstate Transmission, LLC (MAIT) – had filed settlement agreements with the Pennsylvania Public Utility Commission (Pa PUC) in regard to their application to merge into a single consolidated operating company.
The merger would bring four of the electric distribution companies into a single company to focus on delivering electricity to more than 2 million customers. As part of the proposed settlement, income-eligible customers would get $650,000 in bill assistance over a five year period, and the company would put in place a mechanism for tracking cost savings through consolidate operations, which would then be returned to customers during base rate reviews.
