Settlement provides $275 million to FirstEnergy Ohio customers

AKRON, Ohio, Dec. 19, 2025 /PRNewswire/ -- FirstEnergy Corp.'s Ohio electric companies – Ohio Edison, Toledo Edison and The Illuminating Company – have reached an agreement with parties to settle multiple Public Utilities Commission of Ohio (PUCO) matters and provide $275 million to FirstEnergy's Ohio customers.

The settlement resolves four PUCO proceedings – the Corporate Separation, Rider DMR and Rider DCR matters that were the subjects of the PUCO's Nov. 19 orders and the pending Political and Charitable Spending review. The PUCO's Nov. 19 orders directed the companies to pay $250 million, with $64 million going to the state general fund. If approved by the PUCO, the settlement will direct all $250 million to all customers and add $25 million exclusively for residential customers.

Torrence Hinton, FirstEnergy President, Ohio: "We appreciate the dedication and collaboration shown by all parties and are grateful for the collective effort that led to an agreement that provides even more dollars to our Ohio customers. With these matters reaching resolution, we're moving ahead with a clear focus on operating with transparency, delivering reliable service and investing in Ohio communities."

Key Settlement Details

Settlement provisions include:

$250 million in restitution and refunds, credited to customer bills in 2026
$25 million in additional restitution exclusively to residential customers, including $20 million for low-income bill payment assistance, weatherization and energy efficiency programs

Parties to the settlement include The Office of the Ohio Consumers' Counsel (OCC), Ohio Manufacturers' Association Energy Group (OMAEG), Ohio Energy Group (OEG), Northeast Ohio Public Energy Council (NOPEC), Northwest Ohio Aggregation Coalition (NOAC), Ohio Partners for Affordable Energy (OPAE), Citizens Utility Board of Ohio (CUB Ohio), Interstate Gas Supply, LLC (IGS), Retail Energy Supply Association (RESA), NRG/Direct Energy Services, LLC and Direct Energy Business, LLC, Ohio Environmental Council (OEC), Ohio Cable Telecommunications Association (OCTA) and FirstEnergy's Ohio utilities.

Focused on the Future

Between 2025 and 2029, FirstEnergy plans to invest $14 billion in Ohio's transmission and distribution infrastructure, workforce and facilities – critical improvements that enhance reliability, support economic growth and prepare for future energy needs. The company looks forward to working constructively with the PUCO and other stakeholders to meet the needs of customers and communities across Ohio.

FirstEnergy (NYSE:FE) is dedicated to integrity, safety, reliability and operational excellence. Its electric distribution companies form one of the nation's largest investor-owned electric systems, serving more than six million customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate approximately 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy on X @FirstEnergyCorp or online at firstenergycorp.com.

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changing market conditions affecting the measurement of certain liabilities and the value of assets held in our pension trusts may negatively impact our forecasted growth rate, results of operations and may also cause it to make contributions to its pension sooner or in amounts that are larger than currently anticipated; changes in assumptions regarding factors such as economic conditions within our territories, the reliability of our transmission and distribution system, our generation resource planning in West Virginia, or the availability of capital or other resources supporting identified transmission and distribution investment opportunities; human capital management challenges, including among other things, attracting and retaining appropriately trained and qualified employees and labor disruptions by our unionized workforce; mitigating exposure for remedial activities associated with retired and formerly owned electric generation assets, including those sites impacted by the legacy coal combustion residual rules that were finalized during 2024, and the Environmental Protection Agency's reconsideration of such rule; changes to environmental laws and regulations, including, but not limited to, federal and state rules related to climate change, and potential changes to such laws and regulations as a result of the U.S. presidential administration; changes in customers' demand for power, including, but not limited to, economic conditions, the impact of climate change, and emerging technology including artificial intelligence, particularly with respect to electrification, energy storage and distributed sources of generation; future actions taken by credit rating agencies that could negatively affect either our access to or terms of financing or our financial condition and liquidity; the potential of noncompliance with debt covenants in our credit facilities; the ability to comply with applicable reliability standards and energy efficiency and peak demand reduction mandates; changes to significant accounting policies; any changes in tax laws or regulations, including, but not limited to, the Inflation Reduction Act of 2022, the One Big Beautiful Bill Act of 2025, as signed into law on July 4, 2025, or adverse tax audit results or rulings and potential changes to such laws and regulations; the ability to meet our publicly-disclosed goals relating to climate-related matters, opportunities, improvements, and efficiencies, including FirstEnergy's Greenhouse gas reduction goals' and the risks and other factors discussed from time to time in FirstEnergy Corp.'s SEC filings. 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New factors emerge from time to time, and it is not possible for management to predict all such factors, nor assess the impact of any such factor on FirstEnergy Corp.'s business or the extent to which any factor, or combination of factors, may cause results to differ materially from those contained in any forward-looking statements. FirstEnergy Corp. expressly disclaims any obligation to update or revise, except as required by law, any forward-looking statements contained herein or in the information incorporated by reference as a result of new information, future events or otherwise.

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SOURCE FirstEnergy Corp.

Settlement Reached in Multiple PUCO FirstEnergy Proceedings