Label
Opposing Toledo Edison's Rate Increase Request
Sarantou, Komives, & Hobbs
Title
Resolution opposing Toledo Edison's request to increase electric distribution rates and requesting that the Public Utilities Commission of Ohio deny the utility's request, and declaring an emergency.
Summary
WHEREAS, the City of Toledo and its residents currently receive electric distribution service from Toledo Edison, and
WHEREAS, Toledo Edison has filed with the Public Utilities Commission of Ohio, in Case No. 24-468-EL-AIR, a request to increase the rates for electric distribution services it provides to consumers, including the residents of the City of Toledo, and
WHEREAS, Toledo Edison has proposed a distribution rate increase which, together with recent distribution increases, would, on average, increase Toledo residents' monthly charge for electric distribution service, and
WHEREAS, Toledo Edison's request follows its recent request (in Case No. 23-301-EL-SSO) to increase distribution rates through its electric security plan, with that request resulting in the Public Utilities Commission of Ohio approving a significant increase in electric distribution rates charged to consumers over the next five years, and
WHEREAS, frequent increases in electricity rates negatively impact our efforts to attract new business and jobs, act to depress the housing market and place an undue burden on all residents, including the elderly, and those living on fixed incomes, and
WHEREAS, First Energy has a history of financial mismanagement and corruption involving its role in Ohio House Bill 6, which had resulted in federal indictments and financial penalties, and eroded consumer trust in First Energy and the State of Ohio, and
WHEREAS, An independent audit commissioned by the PUCO found that First Energy's revenue requirements are overstated by nearly $35 million. The audit recommended a $27 million decrease in Toledo Edison's revenue, which could lower our average consumer's electric ...
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