OFFICIALS LEGISLATION INTEREST GROUPS PUBLIC STATEMENTS COMMITTEES VETOES

Ohio Energy Rate Hikes

Floor Speech

Date: May 31, 2023
Location: Washington, DC

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Ms. KAPTUR. Mr. Speaker, I rise today to address an immense burden being shifted onto Ohio electric ratepayers beginning this week while Congress works to prevent a national default.

Ohio customers who buy electricity directly from disgraced FirstEnergy Corporation may see rates increase by as much as 47 percent starting in June.

If your energy bill is $50, you will now pay $73.50 a month. If your bill is $100 a month on average, you will pay $147 per month. These new rates will last through May of 2024.

The State of Ohio seems to have no problem with a system where FirstEnergy, a criminal nuclear enterprise, can shift $1.3 billion in their losses to ratepayers. When it comes time to pay its taxes, the company has an effective tax rate of negative 1.3 percent. Then FirstEnergy bilks millions more from the Federal Government instead of paying its fair share.

As Ohio families struggle to keep up with inflation, put food on the table, and pay for childcare, FirstEnergy is squeezing consumers to pay for its criminal behavior. For shame. This corruption cannot stand.

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