First Energy Corp. Drops Electricity Rate

First Energy Corporation, an Akron, Ohio-based firm, was forced to drop its electricity rate to Oak Forest residents to keep from losing them as customers.

The Oak Forest City Council on Tuesday voted 7-0 to amend the agreement with the firm, reducing the rate from 6.92 cents per kilowatt hour to 6.5 cents.

Had the firm not gone along with that switch, Oak Forest legally could have backed out of the three-year agreement it approved in 2014 and transferred local residents back to Commonwealth Edison.

Earlier this month, ComEd announced a base rate for its customers of 6.63 cents per kilowatt hour.

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