8-KRegulation FDExhibits & Filings

FIRSTENERGY CORP 8-K Report, Regulation FD Disclosure (May 27, 2005)

Filed May 27, 2005For Securities:FE

Summary

This 8-K filing from FirstEnergy Corp. (FE) on May 27, 2005, primarily concerns a regulatory filing made by its wholly-owned subsidiaries: Ohio Edison Company, The Cleveland Electric Illuminating Company, and The Toledo Edison Company. These subsidiaries submitted an application to the Public Utilities Commission of Ohio (PUCO) to establish a generation rate adjustment rider. The purpose of this rider is to allow for the recovery of increased fuel costs projected for 2006, compared to 2002 baseline costs, from the companies' retail customers. This filing indicates the companies are seeking to implement this cost recovery mechanism through a tariff rider effective January 1, 2006, as permitted under the existing Rate Stabilization Plan approved by the PUCO in August 2004. The report also notes that FirstEnergy issued a press release and a Letter to the Investment Community to provide further details on this matter, which are furnished as exhibits.

Key Highlights

  • 1Subsidiaries of FirstEnergy Corp. (Ohio Edison, Cleveland Electric Illuminating, Toledo Edison) filed a request with the PUCO.
  • 2The request seeks to establish a generation rate adjustment rider.
  • 3The rider's purpose is to recover projected increases in fuel costs for 2006 compared to 2002 baseline costs.
  • 4The rider would apply to the companies' retail customers.
  • 5Implementation is proposed to begin January 1, 2006.
  • 6This action is consistent with the Rate Stabilization Plan approved by the PUCO in August 2004.
  • 7FirstEnergy issued a press release and a letter to investors with additional details.

Frequently Asked Questions

The main purpose is to request authorization from the Public Utilities Commission of Ohio (PUCO) to implement a generation rate adjustment rider. This rider would allow the subsidiaries to recover increased fuel costs anticipated for 2006.

The companies are seeking to implement the tariff rider to recover increased fuel costs effective January 1, 2006.

No, this filing is a request to establish a mechanism for future cost recovery. The proposed implementation date for the rider to cover increased fuel costs is January 1, 2006, subject to PUCO approval.

The companies are operating under a Rate Stabilization Plan approved by the PUCO in August 2004, which allows them to request recovery of increased fuel and related costs.