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REGULATORY MATTERS (Tables)
 12 Months Ended
Dec. 31, 2021
Regulated Operations [Abstract]  
Distribution Rate Orders
The following table summarizes the key terms of base distribution rate orders in effect for the Utilities as of December 31, 2021:
CompanyRates Effective For CustomersAllowed Debt/EquityAllowed ROE
CEIMay 2009
51% /49%
10.5%
ME(1)
January 2017
48.8% / 51.2%
Settled(2)
MPFebruary 2015
54% / 46%
Settled(2)
JCP&L
November 2021(3)
48.6% / 51.4%
9.6%
OEJanuary 2009
51% /49%
10.5%
PE (West Virginia)February 2015
54% / 46%
Settled(2)
PE (Maryland)March 2019
47% / 53%
9.65%
PN(1)
January 2017
47.4% /52.6%
Settled(2)
Penn(1)
January 2017
49.9% / 50.1%
Settled(2)
TEJanuary 2009
51% / 49%
10.5%
WP(1)
January 2017
49.7% / 50.3%
Settled(2)
(1) Reflects filed debt/equity as final settlement/orders do not specifically include capital structure.
(2) Commission-approved settlement agreements did not disclose ROE rates.
(3) On October 28, 2020, the NJBPU approved JCP&L's distribution rate case settlement with an allowed ROE of 9.6% and a 48.6% debt / 51.4% equity capital structure. Rates are effective for customers on November 1, 2021, but beginning January 1, 2021, JCP&L offset the impact to customers' bills by amortizing an $86 million regulatory liability.
The following table summarizes the key terms of rate orders in effect for transmission customer billings for FirstEnergy's transmission owner entities as of December 31, 2021:
CompanyRates EffectiveCapital StructureAllowed ROE
ATSIJanuary 1, 2015Actual (13-month average)10.38%
JCP&L
January 1, 2020Actual (13-month average)10.20%
MP
January 1, 2021(1)(2)
Actual (13-month average)(1)
11.35%(1)
PE
January 1, 2021(1)(2)
Actual (13-month average)(1)
11.35%(1)
WP
January 1, 2021(1)(2)
Actual (13-month average)(1)
11.35%(1)
MAITJuly 1, 2017
Lower of Actual (13-month average) or 60%
10.3%
TrAILJuly 1, 2008Actual (year-end)
12.7%(TrAIL the Line & Black Oak SVC)
11.7% (All other projects)
(1) Effective on January 1, 2021, MP, PE, and WP have implemented a forward-looking formula rate, which has been accepted by FERC, subject to refund, pending further hearing and settlement procedures.
(2) See FERC Action on Tax Act below.