TOLEDO (13abc Action News) - It looks like electric bills for Toledo Edison customers will be going up. In a Thursday hearing with the Public Utilities Commission of Ohio commissioners approves a First Energy proposal for the rate increase. It was approved with modifications and a rate stability provision.
First Energy asked for a rate hike in part to support the Davis-Besse nuclear power plant in Oak Harbor.
A First Energy spokesperson told 13abc that the new rate plan they're asking for would increase your bill about $3.25 a month. It's an 8 year plan. It’s not clear what the PUCO modifications could mean for an exact increase.
First Energy says the increase is needed to preserve plants like Davis-Besse while energy prices are so low. First Energy does says that their projections show energy prices will increase and they say when that happens customers should see a credit on their bills. But that's only if the projections are accurate and energy prices rise.
Opponents of the plan this is a bailout for the electric company and that rate payers should not shell out more money just because, they say, the power company isn't managing its business well enough.