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Mon. Power, Potomac Edison to issue $2.5M in credit to customers, state regulators say - WCHS

WCHS · last updated

Mon. Power, Potomac Edison to issue $2.5M in credit to customers, state regulators say | WCHS

CHARLESTON, W.Va. (WCHS) — West Virginia regulators ordered an audit into the operations of two power companies, resulting in $2.5 million in refunds for customers.

An investigation into the finances of Monongahela Power and the Potomac Edison Company was launched in March after a proposal for a rate increase was filed.

The news release said the two FirstEnergy subsidiaries paid a $230 million penalty in 2021 following wire fraud charges.

Accountants have advised the PSC to further investigate $18.75 million in lobbying expenses.

In addition, regulators said more than $220,000 in "sponsorship costs were mischarged" over the course of nine years.

The PSC said the companies are proposing a "one-time fixed bill credit to customers during the month of July 2024."

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