AKRON, Ohio — FirstEnergy Corp. announced Friday that its Ohio electric companies — Ohio Edison, Toledo Edison, and The Illuminating Company — have reached a $275 million settlement resolving multiple proceedings before the Public Utilities Commission of Ohio (PUCO).
The agreement, if approved by PUCO, will provide direct financial relief to customers across Ohio and close four ongoing cases involving corporate separation, Rider DMR, Rider DCR, and the company’s political and charitable spending review.
Under the settlement, all $250 million originally ordered by PUCO on Nov. 19 will be redirected entirely to FirstEnergy’s Ohio customers, instead of partially to the state’s general fund. The company also agreed to add $25 million in additional restitution for residential customers — including $20 million specifically dedicated to low-income bill payment assistance, weatherization, and energy-efficiency programs.
“We appreciate the dedication and collaboration shown by all parties and are grateful for the collective effort that led to an agreement that provides even more dollars to our Ohio customers,” said Torrence Hinton, President of FirstEnergy Ohio. “With these matters reaching resolution, we’re moving ahead with a clear focus on operating with transparency, delivering reliable service, and investing in Ohio communities.”
Key settlement provisions include:
- $250 million in restitution and refunds to be credited to customer bills in 2026.
- $25 million in additional restitution for residential customers.
- Targeted support for low-income energy assistance and efficiency upgrades.
Parties to the settlement include the Office of the Ohio Consumers’ Counsel, Ohio Manufacturers’ Association Energy Group, Ohio Energy Group, NOPEC, NOAC, Ohio Partners for Affordable Energy, Citizens Utility Board of Ohio, and several energy suppliers and advocacy organizations.
Looking forward, FirstEnergy said it plans to invest $14 billion between 2025 and 2029 in transmission and distribution infrastructure, workforce, and facilities across Ohio to enhance reliability and support future energy needs.
FirstEnergy (NYSE: FE) serves more than six million customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland, and New York, operating one of the largest investor-owned electric systems in the country.
The $275 million deal marks a major step toward resolving PUCO’s investigations and returning funds directly to Ohio consumers.
