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Mon Power and Potomac Edison propose rate hikes to fund electric system upgrades in West Virginia

Market News
18 May 2026
PRNewsWire
View Source
Neutral
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Mon Power and Potomac Edison, subsidiaries of FirstEnergy Corp., have requested the West Virginia Public Service Commission to review electric rates to support investments in a safer, more reliable electric system. They proposed two options: a smaller, inflation-based rate increase spread over time, or a traditional rate adjustment based on completed infrastructure improvements. The inflation-based option would raise average residential bills by about 3% and 2.9% over two years, while the traditional approach would increase bills by about 13.9%. Both plans aim to maintain West Virginia's lowest residential rates while enhancing system resilience and reducing outage durations. The PSC will review and approve any rate changes before implementation.

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