Barclays Upgrades FirstEnergy Corp. (FE) to Overweight

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Go back to Barclays Upgrades FirstEnergy Corp. (FE) to Overweight

FirstEnergy Ohio Utilities Receive Disappointing PUCO Decision

October 12, 2016 4:55 PM EDT

AKRON, Ohio, Oct. 12, 2016 /PRNewswire/ -- FirstEnergy Corp.'s (NYSE: FE) Ohio utilities Ohio Edison, Cleveland Electric Illuminating and Toledo Edison today announced that the Public Utilities Commission of Ohio (PUCO) has approved modifications to Powering Ohio's Progress, the companies' comprehensive Electric Security Plan (ESP) originally approved in March.  

The PUCO order authorizes the companies to collect approximately $204 million per year over a three-year term.  The charge is expected to result in a $3 increase on monthly bills, or about three percent, for a typical residential customer using 750 kilowatt-hours per month.  With the new... More