FirstEnergy said the Ohio Companies received an order from the PUCO in the 2024 Base Rate Case with a Distribution Rate Base of $4.4B, a Return on Equity of 9.63%, a capital structure of 48.8% debt and 51.2% equity, and a Net Revenue Adjustment of $34M.

1. 01

   FirstEnergy said the Ohio Companies received an order from the PUCO in the 2024 Base Rate Case with a Distribution Rate Base of $4.4B, a Return on Equity of 9.63%, a capital structure of 48.8% debt and 51.2% equity, and a Net Revenue Adjustment of $34M.

2. 02

   The company said the base rate case order includes recovery over 5 years of storm restoration regulatory assets of $245M as of May 2024, and recovery over 10 years of previously deferred distribution operating and maintenance expenses of $92M as of May 2024.

3. 03

   The company said the Ohio Companies were ordered to pay a combined $250.7 million, consisting of $186.63 million in refunds and restitution to customers and $64.07 million in civil forfeitures. It said the payments will be recorded as a special item in Q4 2025 and excluded from Core Earnings.

4. 04

   The company said the Ohio Companies plan to file their first three-year rate plan in Q1 2026, with an estimated effective date in early 2027. It also said it reaffirmed its revised 2025 Core Earnings guidance of $2.50 to $2.56 per share.

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Original filing

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