Electric rates will drop by 3.7% next year for West Virginia customers under a settlement between energy efficiency advocates and FirstEnergy subsidiaries Mon Power and Potomac Edison.
The West Virginia Public Service Commission approved the deal Wednesday. The utilities also must justify continuing coal plant operations and provide an economic analysis of plants for which they plan major improvements. The deal rejects the companiesâ application to modernize two coal plants, but the utilities can apply again.
FirstEnergy expects a multi-year modernization and improvement program at the plants to be complete by 2025. The program would include continuing air-emission reduction projects at both plants and new wastewater treatment projects to meet the U.S. Environmental Protection Agencyâs new effluent limitation guideline requirements, according to FirstEnergy spokesman Will Boye.