A few months ago, FirstEnergy filed with the Public Utilities Commission of Ohio (PUCO) a proposed rate plan for the 3-year period beginning on June 1, 2011. While the PUCO has not yet made a decision on this proposal, several parties have agreed to support the plan. Most recently, the Northeast Ohio Public Energy Council (NOPEC) agreed to drop its opposition to the plan in exchange for some concessions from FirstEnergy. The Office of Consumer’s Counsel is the only party actively opposed.
As John Funk reported in today’s Plain Dealer (FirstEnergy deal paves way for approval of new rates), the PUCO may approve the plan by mid-August. FirstEnergy wants to hold an auction in October to set generation prices for the period covered by this new rate plan, June 1, 2011 through May 31, 2014. This will allow consumers who wish to contract with alternative suppliers for their generation services to know the utility’s standard price, or “price to compare”.
