FirstEnergy to seek extension of rate freeze.(News)(FirstEnergy Corp. blocks rival electric suppliers )

Crain's Cleveland Business, September, 2003

Byline: JAY MILLER FirstEnergy Corp. has told securities analysts that it expects to ask the Public Utilities Commission of Ohio to extend the market development period that has frozen utility rates to consumers but, critics charge, has made it hard for rival electric suppliers to compete in northern Ohio.

Speaking to securities analysts late last month, Richard H. Marsh, FirstEnergy's senior vice president and chief financial officer, said he thought the regulatory agency would be receptive. He said Alan R. Schriber, PUCO chairman, has stated that the commission's most important task was to prevent rate shock for consumers after 2005, when the market development period is to end. Mr. Marsh said the nucleus of a deal to extend the period was in place...

Read the rest of this article with a Free Trial at HighBeam Research.

Premium Content Partnership | HighBeam Research provides an in-depth online archive library of reference works.