AKRON, Ohio, Dec. 15 /PRNewswire-FirstCall/ -- Customers of FirstEnergy's Ohio Edison, Cleveland Electric Illuminating Company and Toledo Edison companies will have several new options for saving energy under a proposal filed today with the Public Utilities Commission of Ohio. The plans - which include ways to make homes and businesses more energy efficient and reduce peak energy use - could save customers $720 million over the life of the programs.
The programs are part of the companies' efforts to comply with energy-efficiency provisions of Senate Bill 221 (SB 221), Ohio's energy law. If approved, the programs would be introduced to customers beginning in 2010.
"Energy efficiency and demand reduction are cost-effective ways to address growing electricity usage," said John E. Paganie, vice president of Customer Service and Energy Efficiency for FirstEnergy. "And, our portfolio of programs has been designed to provide savings to customers that far outweigh the costs."
Based on customer participation, the plans have the potential to reduce electricity usage by more than 1.3 million megawatt-hours annually by the end of 2012, equal to the average annual usage of some 140,000 homes. Reduced electricity usage under the plans also could avoid annual emissions of some 1.2 million tons of carbon-dioxide, 10,000 tons of sulfur dioxide and 2,000 tons of nitrogen oxides; help delay the need for new generating plants; and support the development of "green jobs" in Ohio.
Today's filing outlines a number of options for customers to save energy and money on their monthly electric bills. These include:
-- Appliance turn-in program - an incentive of up to $50 to customers who turn in older, inefficient appliances such as second refrigerators, freezers and room air conditioners. The program includes free pick-up and disposal of the old appliances, and may also include a coupon toward the purchase of a high-efficiency appliance through the Energy Efficient Products program described below. -- Comprehensive home energy audit - a full evaluation of a home's energy performance, including insulation, heating and cooling systems, doors, windows, caulking and sealing. Customers who participate also would be eligible for rebates and discounts on items purchased to improve energy efficiency. These could include heating, water heating and air conditioning systems, as well as insulation and other weatherization products. -- Compact fluorescent light bulbs - an opportunity for customers to receive discounts toward the purchase of compact fluorescent lights bulbs (CFLs) from local retailers. CFLs also would be available through community agencies that provide energy assistance to low-income customers, and could be requested by customers who call the companies or through http://www.firstenergycorp.com/. CFLs use 75 percent less electricity and last up to 10 times longer than incandescent bulbs. -- Energy efficient products - rebates and financial incentives for customers who purchase energy-efficient products such as ENERGY STAR® qualified appliances and high-efficiency lighting. -- Direct load control thermostat - an option to receive an advanced technology thermostat capable of two-way communication in exchange for providing the utility company with the ability to raise the temperature a few degrees on peak usage days in the summer. -- Efficient new homes program - incentives for home builders to improve the energy performance of new construction by providing rebates and discounts on efficiency enhancements to help achieve ENERGY STAR® certification. -- Commercial and industrial efficiency improvements - audits to identify ways for businesses to improve energy efficiency and rebates for installation of technologies to enhance efficiency and reduce electricity usage.
In addition, the companies would continue offering programs designed to help low-income customers improve energy efficiency and reduce their electric bills through the Community Connections program. Since 2001, the companies have provided some $40 million in weatherization and energy-efficiency support for qualifying customers.
As provided for in SB 221, the companies also are seeking approval to recover program costs, including approximately $30 million for residential programs each year through 2012. Under the proposal filed today, Ohio Edison residential customers using 750 kilowatt-hours per month would see an average monthly increase of $1.42 in 2010. For residential customers of the Cleveland Electric Illuminating Company, the increase would be $1.57, and for Toledo Edison customers, $1.52. The amount recovered would be adjusted annually to reflect program costs of the plan.
FirstEnergy is a diversified energy company headquartered in Akron, Ohio. Its subsidiaries and affiliates are involved in the generation, transmission and distribution of electricity, as well as energy management and other energy-related services. Its seven electric utility operating companies comprise the nation's fifth largest investor-owned electric system, based on 4.5 million customers served within a 36,100-square-mile area of Ohio, Pennsylvania and New Jersey; and its generation subsidiaries control more than 14,000 megawatts of capacity.
Forward-Looking Statements: This news release includes forward-looking statements based on information currently available to management. Such statements are subject to certain risks and uncertainties. These statements include declarations regarding management's intents, beliefs and current expectations. These statements typically contain, but are not limited to, the terms "anticipate," "potential," "expect," "believe," "estimate" and similar words. Forward-looking statements involve estimates, assumptions, known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Actual results may differ materially due to the speed and nature of increased competition in the electric utility industry and legislative and regulatory changes affecting how generation rates will be determined following the expiration of existing rate plans in Pennsylvania, the impact of the Public Utilities Commission of Ohio's regulatory process on the Ohio Companies associated with the distribution rate case, economic or weather conditions affecting future sales and margins, changes in markets for energy services, changing energy and commodity market prices and availability, replacement power costs being higher than anticipated or inadequately hedged, the continued ability of FirstEnergy's regulated utilities to collect transition and other charges or to recover increased transmission costs, operating and maintenance costs being higher than anticipated, other legislative and regulatory changes, revised environmental requirements, including possible greenhouse gas emission regulations, the potential impacts of the U.S. Court of Appeals' July 11, 2008 decision requiring revisions to the Clean Air Interstate Rules and the scope of any laws, rules or regulations that may ultimately take their place, the uncertainty of the timing and amounts of the capital expenditures needed to, among other things, implement the Air Quality Compliance Plan (including that such amounts could be higher than anticipated or that certain generating units may need to be shut down) or levels of emission reductions related to the Consent Decree resolving the New Source Review litigation or other similar potential regulatory initiatives or actions, adverse regulatory or legal decisions and outcomes (including, but not limited to, the revocation of necessary licenses or operating permits and oversight) by the Nuclear Regulatory Commission, Metropolitan Edison Company's and Pennsylvania Electric Company's transmission service charge filings with the Pennsylvania Public Utility Commission, the continuing availability of generating units and their ability to operate at or near full capacity, the ability to comply with applicable state and federal reliability standards, the ability to accomplish or realize anticipated benefits from strategic goals (including employee workforce initiatives), the ability to improve electric commodity margins and to experience growth in the distribution business, the changing market conditions that could affect the value of assets held in FirstEnergy's nuclear decommissioning trusts, pension trusts and other trust funds, and cause it to make additional contributions sooner, or in an amount that is larger than currently anticipated, the ability to access the public securities and other capital and credit markets in accordance with FirstEnergy's financing plan and the cost of such capital, changes in general economic conditions affecting the company, the state of the capital and credit markets affecting the company, interest rates and any actions taken by credit rating agencies that could negatively affect FirstEnergy's access to financing or its costs or increase its requirements to post additional collateral to support outstanding commodity positions, letters of credit and other financial guarantees, the continuing decline of the national and regional economy and its impact on the company's major industrial and commercial customers, issues concerning the soundness of financial institutions and counterparties with which FirstEnergy does business, and the risks and other factors discussed from time to time in its Securities and Exchange Commission filings, and other similar factors. The foregoing review of factors should not be construed as exhaustive. 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'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 expressly disclaims any current intention to update any forward-looking statements contained herein as a result of new information, future events, or otherwise.
FirstEnergy Corp.
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