As a result, FirstEnergy said a typical Mon Power and Potomac Edison residential customer using 1,000 kilowatt-hours of electricity a month would see their current $95.13 monthly bill decrease $1.42 to $93.71.
The company has also made several commitments as part of the settlement agreement. Those include:
- Hiring an additional 50 employees in West Virginia.
- Providing $2.3 million worth of Economic Stability Credits to large commercial and industrial customers over the next two years
- Making contributions of $500,000 over the next five years to three separate initiatives: The Dollar Energy fund, which helps low-income residents pay their bills; the West Virginia Office of Economic Opportunity's program to help residential customers weatherize their homes and to the Governor's West Virginia Kids First Initiative to support energy efficiency initiatives in public schools.
The company will also be required to come up with a plan to boost energy efficiency over the next five years.
The proposed settlement was reached between the company and PSC staff, the Consumer Advocate Division, West Virginia Energy Users Group, Utilities Workers Union of America, Sierra Club, West Virginia Coal Association and several AFL-CIO affiliate organizations.
The West Virginia Citizen Action Group opposes the proposal, according to a footnote in the settlement agreement.
Public Service commissioners will have to review the proposal before giving it their blessing. That decision could be made in the coming weeks.
Contact writer Jared Hunt at busin...@dailymail.com or 304-348-4836.