FirstEnergy Ohio Utilities Ask PUCO For Rate Hike
Posted onMore Rate Hikes For Ohio Customers
Yes, it’s true. Rate hikes aren’t going away any time soon. This time, FirstEnergy Ohio is up to the plate, looking for a rate increase. Thankfully, this isn’t going to be a huge increase on your bills. All the same, you'll be paying more for your Ohio energy. So, let's see why FirstEnergy wants to increase their rates and how will this affect your FirstEnergy bills?
Why Is FirstEnergy Raising Rates?
FirstEnergy Ohio’s last rate review was back in 2007. This means that it has been over 17 years since there has been any substantial change in their rates. There's also been over 17 years of grid modernization, and various initiatives to reduce outages and improve response times. It’s estimated that FirstEnergy has spent well over a few billion dollars in grid enhancements over the last 17 years.
How Much Is This Hike Going To Cost?
Thankfully, this rate increase shouldn’t put too much burden on consumers. The average customer who uses 750 kWh of energy should only see an increase of about $1.88 on their monthly bill. That adds up to a $22.56 increase every year. However, with energy bills rising due to the temperatures across the US, this could still put strain on customers.
Ways To Save In Spite Of Rate Hike
Although FirstEnergy is the one raising their price, this higher distribution charge will affect all of its customers. That means that regardless of who your energy provider is on your bill, you will still face this rate hike. So, how can you negate the increase? One great option is to shop around for a lower rate. FirstEnergy’s current price to compare is 9.29 cents per kWh and expires at the end of June. You can find great prices across all the FirstEnergy Ohio utilities. This includes Ohio Edison, the Illuminating Company, and Toledo Edison.
Additionally, you can look in to ways to cut your electricity usage to help lower the effect of the new rate on your bills. Taking advantage of drapes, LEDS, and (most importantly) cleaning your air conditioner can all help lower your AC run time and lower your electricity bills.
Save On Your Electricity Bill During The Rate Hike
We get it; shopping for a new electricity plan can be a pain, especially when you’re trying to save money. But with the great ways to find your perfect electricity rate just by shopping. By offering reviews and information, we’re hoping to make it easier for all Ohio electricity customers.
For more information on future rate increase and other electricity news in Ohio, there’s more at http://www.ohenergyratings.com.
