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REGULATORY MATTERS (Tables)
 12 Months Ended
Dec. 31, 2024
Regulated Operations [Abstract]  
Schedule of Distribution Rate Orders
The following table summarizes the key terms of state base rate orders in effect for the Electric Companies as of December 31, 2024:
CompanyRates Effective For CustomersAllowed Debt/EquityAllowed ROE
CEIMay 2009
51%/ 49%
10.5%
FE PA(1)
January 2017
Settled(2)
Settled(2)
MPMarch 2024
Settled(2)
9.8%
JCP&LJune 2024
48.1% / 51.9%
9.6%
OEJanuary 2009
51% /49%
10.5%
PE (West Virginia)March 2024
Settled(2)
9.8%
PE (Maryland)October 2023
47% / 53%
9.5%
TEJanuary 2009
51% / 49%
10.5%
(1) As further discussed below, new rates became effective for customers on January 1, 2025, and did not disclose allowed debt/equity and ROE rates.
(2) Commission-approved settlement agreements did not disclose allowed debt/equity and/or ROE rates.
The following table summarizes the key terms of FERC rate orders in effect for transmission customer billings for FirstEnergy's transmission owner entities as of December 31, 2024:
CompanyRates EffectiveCapital StructureAllowed ROE
ATSIJanuary 2015Actual (13-month average)
9.88%(1)
JCP&L
January 2020Actual (13-month average)10.20%
MPJanuary 2021
Lower of Actual (13-month average) or 56% equity
10.45%
PE January 2021
Lower of Actual (13-month average) or 56% equity
10.45%
KATCo(2)
January 2021
Hypothetical 49.3% equity(3)
10.45%
MAITJuly 2017
Lower of Actual (13-month average) or 60% equity
10.3%
TrAILJuly 2008Actual (year-end)
12.7%(4) / 11.7%(5)
(1) Reflects a 0.5% reduction to the 10.38% approved ROE due to the January 2025 Sixth Circuit ruling eliminating the 50 basis point adder associated with RTO membership (see Transmission ROE Incentive: OCC v. ATSI, et al.)
(2) On January 1, 2024, WP transferred certain of its Pennsylvania-based transmission assets to KATCo
(3) Hypothetical capital structure will convert to an actual (13-month average) in January 2027
(4) TrAIL the Line and Black Oak Static Var Compensator
(5) All other projects