Take a look at this infographic that shows that FirstEnergy and AEP have collected – or will collect – more than $8 billion in above-market charges from their customers from 2001-2018 as the generation market moved through the deregulation process. That is, by regulatory fiat their customers paid, or will pay, $8 billion above the market.
This is no way to have a competitive, job-producing industrial economy.
Now, as you know, FirstEnergy and AEP Ohio continue to attempt to secure more non-bypassable customer subsidization of the utilities’ uneconomic power plants. What they asked for would have resulted in another $6 billion in above-market charges.
Isn’t it time to stop punishing customers and allow the markets to work?