Newspaper article Pittsburgh Post-Gazette (Pittsburgh, PA)

West Penn Power Parent Seeks 10.5

Newspaper article Pittsburgh Post-Gazette (Pittsburgh, PA)

West Penn Power Parent Seeks 10.5

Article excerpt

FirstEnergy Corp. plans to ask Pennsylvania regulators on Thursday for permission to raise rates at its four electric utilities, including a 10.5 percent increase at West Penn Power.

This would give the Greensburg-based utility an additional $98 million in revenue, an 11 percent return on equity.

The Akron, Ohio-based parent company is seeking to boost revenue by $439 million across all four utilities. It hopes to start recovering the higher rates in January 2017.

West Penn, which has 720,000 customers, just settled a rate case last year that raised customer rates by about 13 percent and marked the first time in two decades that the utility sought an increase in its base rate.

FirstEnergy executives said during an earnings call Wednesday morning that the company plans to file more frequent rate cases before the Pennsylvania Public Utility Commission - partly to make up for 20 years of unchanged rates; partly to fund system improvement projects; and partly to offset lower electricity consumption that the company has said is a result of Pennsylvania's stringent energy efficiency mandates. …

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