New Time-Varying Rate Option for Qualifying Ohio Edison, Cleveland Electric Illuminating Company and Toledo Edison Customers

Rising Energy Prices and What They Mean For You 

Default electricity prices, identified as the “price-to-compare” or “PTC” on residential customers’ bills, are scheduled to increase June 1, 2023. For more information about this increase, please visit the Public Utilities Commission of Ohio website at: Changing electricity rates in Ohio | Public Utilities Commission of Ohio.

Customers taking the Standard Service Offer electric generation service from Ohio Edison, Cleveland Electric Illuminating Company, or Toledo Edison, including customers on the Time-Varying Rate (TVR), will pay more beginning June 1, 2023. Customers on the TVR who use electricity during Midday Peak and Shoulder Peak are likely to see significant increases in their bills.


What Should Customers Do?

A customer on the TVR may unenroll at any time by calling 1-855-344-3400 or by going to www.firstenergycorp.com/corporate/contact_us and select “Billing and Rates” in the “Request Type” drop box.

To explore alternative electricity supplier options, customers can visit the PUCO's Apples to Apples tool online at www.energychoice.ohio.gov. As customers evaluate their "price to compare" against alternative supplier offers, they should consider the price, plan structure (fixed or variable rate), contract terms and conditions, and any taxes, charges or fees that may apply. For more information about customer choice, please visit: Ohio (firstenergycorp.com). Customers can also explore ways to conserve energy this summer by visiting www.firstenergycorp.com/save_energy

As part of phase one of its Grid Modernization Plan, FirstEnergy has installed 700,000 smart meters in parts of the Ohio Edison, Cleveland Electric Illuminating Company and Toledo Edison service areas. Residential customers taking the Standard Service Offer electric generation service who have smart meters may be eligible for a new, voluntary Time-Varying Rate (TVR) offer that the Public Utilities Commission of Ohio has approved.

Time of day electric rates, like the TVR, can encourage customers to use less electricity overall, reduce energy bills and benefit the environment by lowering greenhouse gas emissions.
 

What is a Time-Varying Rate (TVR)?

Under this program, customers will pay different rates depending on the time of the day they’re using electricity. The electric rates are divided into three time-varying categories:
 

Midday Peak

2 p.m. to 6 p.m. Eastern Prevailing Time (EPT) Monday through Friday, excluding holidays*

Shoulder Peak

6 a.m. to 2 p.m. and 6 p.m. to 8 p.m. EPT   Monday through Friday, excluding holidays*

Off Peak

All other hours   All other hours

*New Year’s Day, Memorial Day, Independence Day, Labor Day, Thanksgiving Day, and Christmas Day.
 

Customers enrolling in a Time-Varying Rate may have an opportunity to save money compared to the Standard Service Offer Rate by shifting or reducing their energy usage during peak times.

The Time-Varying Rate Program is voluntary. If you choose not to participate, you will continue to pay the Standard Service Offer Rate, or you may elect to shop for electric generation with a Competitive Retail Electric Service provider. A customer who enrolls in the TVR will remain on the TVR until they elect to terminate participation, which they may do at any time.

Please note that you may be able to pay less each month by selecting a Competitive Retail Electric Service provider that offers a rate lower than the Price to Compare (PTC) on your bill. Now is a great time to review your options so that you can select a rate or program that works best for you.


How do you sign up or terminate participation in the TVR?


To enroll or unenroll in the TVR offer, or for more information, please call 1-855-344-3400 or go to www.firstenergycorp.com/corporate/contact_us and select “Billing and Rates” in the “Request Type” drop box.




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