Mon Power and Potomac Edison, subsidiaries of FirstEnergy Corp., have reached a settlement agreement with the Public Service Commission (PSC) of West Virginia regarding the adjustment of energy metering credits. The agreement aims to address the fixed costs associated with new net energy metering customers who generate their own power through renewable sources.
According to a statement by Mon Power and Potomac Edison, the agreement will impact both existing and new net energy metering customers. Existing customers will continue to receive the current retail rate offset for 25 years. However, starting from January 1, 2025, new residential net energy metering customers will receive a credit rate of approximately 9 cents per kilowatt-hour. The specific credit rates for non-residential customers can be found in the settlement filing.
Parties involved in the settlement include staff of the PSC, the Consumer Advocate Division of the Commission, as well as several advocacy groups and organizations such as Solar United Neighbors and Energy Efficient West Virginia.
Mon Power, serving around 395,000 customers in 34 West Virginia counties, and Potomac Edison, serving approximately 285,000 customers in Maryland and 155,000 customers in the Eastern Panhandle of West Virginia, are committed to ensuring a smooth transition with the new energy metering credits.
FirstEnergy Corp., the parent company of Mon Power and Potomac Edison, operates as one of the largest investor-owned electric systems in the nation, catering to millions of customers across multiple states. The company emphasizes integrity, safety, and operational excellence in its services.
For more information, interested parties can follow Mon Power at mon-power.com and Potomac Edison at potomacedison.com. Additional updates can be found on their respective social media platforms.
For media inquiries, please contact Hannah Catlett at (440) 554-5346, and for investor relations, Irene Prezel can be reached at (330) 384-3859.
