FAIRMONT, W.V., Feb. 16,
2024 /PRNewswire/ -- Mon Power and Potomac
Edison, subsidiaries of FirstEnergy Corp. (NYSE: FE), have
filed a settlement agreement with the Public Service Commission
(PSC) of West Virginia to resolve
the outstanding net energy metering portion of its base rate
review. The agreement helps ensure that new net energy metering
customers – those who offset their power needs with wind, rooftop
solar or other forms of on-site energy – pay a portion of the fixed
costs related to the distribution, transmission and capacity
facilities they use by adjusting the credit amount that new
net energy metering customers receive for the energy they generate
beginning Jan. 1, 2025.
If the agreement is approved by the PSC, existing net energy
metering customers will continue to receive the current retail rate
offset for 25 years. Beginning Jan. 1,
2025, any new residential net energy metering customers
would receive a credit rate of about 9
cents per kilowatt hour. The settlement also establishes new
net energy metering credit rates for non-residential customers,
which can be found in the settlement filing.
Parties to the newly filed settlement include staff of the PSC,
the Consumer Advocate Division of the Commission, West Virginia
Citizen Action Group, Solar United Neighbors, Energy Efficient West
Virginia, Solar Holler LLC and Mon Power/Potomac Edison.
Mon Power serves about 395,000 customers in 34 West Virginia counties. Follow Mon Power at
mon-power.com, on X, formerly known as Twitter, @MonPowerWV, and on
Facebook at facebook.com/MonPowerWV.
Potomac Edison serves about 285,000 customers in seven counties
in Maryland and 155,000 customers
in the Eastern Panhandle of West
Virginia. Follow Potomac Edison at potomacedison.com, on X
@PotomacEdison and on Facebook at
facebook.com/PotomacEdison.
FirstEnergy is dedicated to integrity, safety, reliability and
operational excellence. Its electric distribution companies form
one of the nation's largest investor-owned electric systems,
serving more than six million customers in Ohio, Pennsylvania, New
Jersey, West Virginia,
Maryland and New York. The company's transmission
subsidiaries operate approximately 24,000 miles of transmission
lines that connect the Midwest and Mid-Atlantic regions. Follow
FirstEnergy online at firstenergycorp.com and on X,
@firstenergycorp.
View original content to download
multimedia:https://www.prnewswire.com/news-releases/mon-power-and-potomac-edison-reach-settlement-to-adjust-energy-metering-credits-302064445.html
SOURCE FirstEnergy Corp.