FirstEnergy Ohio Electric Companies Plan to File First Three-Year Rate Plan

Forward-looking plan invests in upgrades to improve reliability and help keep bills manageable

AKRON, Ohio, April 23, 2026 /PRNewswire/ -- FirstEnergy electric companies The Illuminating Company, Ohio Edison and Toledo Edison announced they plan to file their first Three-Year Rate Plan (TYRP) with the Public Utilities Commission of Ohio (PUCO) by May 22, 2026. The TYRP supports significant upgrades that make the electric system stronger and gives customers a clearer view of what work is planned and how it affects bills.

In the past, electric rates were based on costs already spent. New Ohio legislation allows electric utilities to set distribution rates using a forward-looking, three-year plan that is reviewed by the PUCO and updated each year. This forward-looking plan helps customers understand the types of work planned and why it's needed while also keeping bill changes more predictable and gradual over time.

"Our TYRP is about careful and balanced planning," said Torrence Hinton, President of FirstEnergy Ohio. "We're focused on upgrading the electric system customers rely on every day, and we know affordability matters. Recent upgrades helped show what works best, and we're building the three-year plan around the work that will make the biggest difference, keeping costs in check and clearly explaining what customers are paying for."

Fewer Outages, Faster Restoration

The TYRP will build on reliability work already underway and support continued improvements to FirstEnergy's Ohio electric system, including:

• An average of $800 million annually to upgrade neighborhood poles, wires and equipment, improve facilities and add technology that helps us run the system and respond faster – especially during severe weather.
• An average of $83 million annually to expand tree trimming near power lines – a top cause of outages for FirstEnergy's Ohio customers.

Support for Customers Who Need It

Along with strengthening reliability, the TYRP emphasizes affordability – helping customers access support and reduce usage so bills are more manageable and predictable by:

• Continuing existing assistance programs and adding new support for low-income customers to help them pay their bills.
• Continuing a program that helps income-eligible customers use energy more efficiently and save on monthly bills.
• Working with large customers to reduce electricity use during times of highest demand.

Keeping Bills More Predictable

By planning investments over several years, the TYRP will help smooth rate changes and reduce sudden bill increases.

A typical non-shopping residential customer using about 1,000 kilowatt-hours per month is expected to see a modest average monthly bill change over the three-year period:

• Ohio Edison – average annual increase of 2.2%, or approximately $4.26 per month each year over the three-year period.
• The Illuminating Company – average annual increase of 2.6%, or $5.15 per month each year over the three-year period.
• Toledo Edison – average annual increase of 2.8%, or $5.30 per month each year over the three-year period.

If approved by the PUCO, FirstEnergy's Ohio residential monthly bill is estimated to grow more slowly on an average annual basis due to the TYRP through 2030 than the 10-year average U.S. inflation rate of 3.3%.

The plan only affects the distribution part of customer bills. It does not include the cost of electricity supply, which is set by third-party suppliers.  

FirstEnergy Corp. (NYSE: FE) 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 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 www.firstenergycorp.com. Follow FirstEnergy on X: @FirstEnergyCorp.

(042326)

SOURCE FirstEnergy Corp.