Court Rules FirstEnergy Units Can't Raise Rates

Law360, New York (November 10, 2008, 12:00 AM EST) -- A Pennsylvania court has ruled that two subsidiaries of FirstEnergy Corp. can't bump up customers' retail electric rates to reflect the skyrocketing price of wholesale electricity, shooting down the utilities' bid to sidestep rate caps they agreed to in the 1990s.

The ruling, handed down Friday by a panel of judges in the Commonwealth Court of Pennsylvania, affirmed an earlier decision by the state's Public Utility Commission denying a request by Metropolitan Edison Co. and Pennsylvania Electric Co. to boost customers' electric rates ahead of the...
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