Six months after the passage of House Bill 6, the Public Utilities Commission of Ohio (PUCO) this week gave approval to FirstEnergy utilities to impose a new decoupling rider on customer bills. Under the mechanism, if annual revenue in a given calendar year is less (or greater) than 2018’s baseline revenue, FirstEnergy utilities will charge (or credit) the difference to customers through the decoupling rider.
Why was 2018 used as the baseline? Because 2018 was among the warmest summers in history. Therefore, 2018 produced some of the highest revenue for the three FirstEnergy utilities. The rider will guarantee FirstEnergy companies the same amount of revenue received in 2018.
The PUCO this week acted on several other issues that will affect manufacturers’ power bills. Make sure you are participating in the OMA Energy Group for the most comprehensive updates on PUCO activity. 1/16/2020