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 towww.firstenergycorp.com/corporate/contact_usand 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 atwww.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 visitingwww.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 towww.firstenergycorp.com/corporate/contact_usand select “Billing and Rates” in the “Request Type” drop box.
FAQs
- What is the TVR?
FirstEnergy is implementing phase one of a Grid Modernization Plan that includes installing 700,000 smart meters in parts of the Ohio Edison, Cleveland Electric Illuminating Company and Toledo Edison (Companies’) service areas. With the smart meter, customers may be eligible for a new, voluntary Time-Varying Rate (TVR) offer that has been approved by the Public Utilities Commission of Ohio.
The TVR will give customers who are enrolled the opportunity to save money compared to the Standard Service Offer (SSO) Rate, also known as the “Price to Compare”. The potential for savings is based on the times of day, and days of the week, the customer consumes electricity. With the TVR offer, electric rates are divided into three time-varying categories: Midday Peak- 2 p.m. to 6 p.m. 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; and Off Peak would be all other hours.
- Who is eligible to participate?
The TVR is now available to Ohio non-shopping residential customers with a FirstEnergy company installed, bill-certified smart meter.
- What are the TVR rates?
The rates for Summer (June through August) are Midday Peak $0.187334 per kWh, Shoulder Peak $0.126610 per kWh and Off Peak $0.093667 per kWh. The rates for Winter (all other months) are Midday Peak $0.155243, Shoulder Peak $0.118718 and Off Peak $0.077622.
Below are illustrative examples of a customer’s electricity usage during a summer month and a winter month and the savings produced when the customer’s usage is shifted during the day and week.
Rider GEN Time-of-day Option Summer (June through August)
$/kWh
kWh Used
$ Billed
Standard Service Offer Rate
$0.117708
750
$88.28
TVR Total
See below:
750
$81.52
TVR: Midday Peak
$0.187334
50
$9.37
TVR: Shoulder Peak
$0.126610
200
$25.32
TVR: Off Peak
$0.093667
500
$46.83
Rider GEN Time-of-day Option Winter (All other months)
$/kWh
kWh Used
$ Billed
Standard Service Offer Rate
$0.101078
750
$75.81
TVR Total
See below:
750
$70.31
TVR: Midday Peak
$0.155243
50
$7.76
TVR: Shoulder Peak
$0.118718
200
$23.74
TVR: Off Peak
$0.077622
500
$38.81
- Does a time-varying rate require me to reduce electric usage?
Although you are not required to reduce your electric usage, under the TVR, a customer can achieve savings by shifting electric usage from hours when rates are higher to hours when rates are lower. A combination of shifting usage and reduced consumption would likely result in additional savings.
- How can I manage my electricity usage?
Simple changes to when you use energy-intensive appliances can result in savings on your electric bill and reduce peak demand on the grid, for example, run washing machines, clothes dryers, dishwashers, and all large appliances off-peak; use an ENERGY STAR® certified smart thermostat to reduce heating/cooling in on-peak hours or when you are away; use timers on electric water heaters and recirculation pumps so they operate mainly off-peak; turn off all but essential lights during on-peak hours or put lights on timers; if you have an electric vehicle, charge it off-peak.
- Are savings guaranteed with the time-varying rate?
No. If a customer is not able to shift their electricity usage to the lower priced time periods, the customer could end up paying more than they would have on the SSO.
- How do I sign up?
To enroll in the time-varying rate, or for more information, please call 1-855-344-3400 or go online at www.firstenergycorp.com/corporate/contact_us and select “Billing and Rates” in the “Request Type” drop box. Once you sign up, this change would be effective at your next billing cycle.
- What happens if I am on the time-varying rate, and I sign up to get my generation from a competitive supplier?
You will automatically be removed from the time-varying rate effective on the date you begin getting generation from a competitive supplier.
- Do I have the option to have a smart meter installed at my premise, so that I can participate in this rider?
No, Ohio Edison, The Cleveland Electric Illuminating Company, and Toledo Edison have deployment schedules for meter installations, and you will be notified when smart meters will be installed in your area. Once a smart meter is installed at your residence, you could participate in the program.
- How can I review my electricity usage?
Your smart meter detects and records your electricity usage at hourly intervals, and you will be billed according to your rate plan. Your recorded hourly usage is located on the Customer Portal of the FirstEnergy website. Also available is our Home Energy Analyzer, which is a convenient tool to better understand your household energy use and ways to improve efficiency.
More information can be found on the Company’s website by logging in to your account at https://firstenergycorp.com/log_in.html.
- Can I compare what I am paying under the time-varying rate with what I would have paid under the standard service offer rate?
Yes, at this time you can call the Company at 1-855-344-3400 for assistance with this.
- What if I choose not to participate in the time-varying rate?
The program is voluntary. Customers will not be enrolled in the time-varying rate unless they request it.
- What if I enroll in the time-varying rate but then I want to cancel it?
You may cancel your participation at any time. If you enroll and then choose not to participate, please call 1-855-344-3400 or go online at www.firstenergycorp.com/corporate/contact_us and select “Billing and Rates” in the “Request Type” drop box. If you cancel participation in the time-varying rate and are non-shopping, you will be returned to the SSO rate, and this change would be effective starting with your next billing cycle.
Last Modified: November 15, 2023
