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Published: Friday, 8/9/2013

Business Brief

FirstEnergy ordered to credit clients $43.3M

COLUMBUS — Ohio utility regulators have ordered FirstEnergy Corp. to credit $43.3 million to its 2 million customers after the company overcharged them for renewables purchases in Ohio’s developing alternative energy market.

The unanimous action by the Public Utilities Commission of Ohio on Wednesday for the first time puts a dollar figure on excess costs the utility paid a subsidiary for renewable energy and passed on to customers. The company said it plans to appeal the decision.

An audit of the overcharges by Exeter Associates Inc. indicated FirstEnergy, Toledo Edison’s parent utility, paid 15 times more than any other company in the country to subsidiary FirstEnergy Solutions to buy credits it would use to help meet Ohio’s new renewable energy standard.

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