Potomac Edison Customers in Maryland Can Lower Their Bills With New Residential Time-of-Use Rate

Potomac Edison (NYSE: FE) launched a new residential time-of-use (TOU) rate for Maryland customers effective April 20, 2026.

Rhea-AI Summary

Potomac Edison (NYSE: FE) launched a new residential time-of-use (TOU) rate for Maryland customers effective April 20, 2026. The rate charges about 16¢/kWh on-peak and about 9¢/kWh off-peak through May 31, 2026, a roughly 44% discount during off-peak hours.

Enrollment has no upfront cost, requires a meter replacement, and the rate excludes customers on the EV charger TOU rider.

Positive

• Off-peak supply about 44% lower (9¢/kWh vs 16¢/kWh)
• No upfront cost to enroll in the residential TOU rate
• Potential bill savings by shifting dishwasher, laundry, and appliance use off-peak
• Service footprint covers ~285,000 Maryland customers

Negative

• Eligibility limited to customers taking supply from Potomac Edison
• Customers cannot combine residential TOU with the EV charger TOU rider
• Enrollment requires a meter replacement before the new rate starts
• Electric supply charges change seasonally, adding rate variability

Argus Apr 20 session

-1.30% close to close Open Argus

Details

News Market Reaction – FE

On Apr 20, the day this news came out, FE closed 1.30% below the previous close.

Data tracked by StockTitan Argus for the Apr 20 session.

Key Figures

On-peak rate: 16 cents per kWh Off-peak rate: 9 cents per kWh Off-peak discount: 44% less +4 more

On-peak rate

16 cents per kWh

On-peak electric supply and variable distribution charges through May 31, 2026

Off-peak rate

9 cents per kWh

Off-peak electric supply and variable distribution charges through May 31, 2026

Off-peak discount

44% less

Off-peak vs on-peak electric supply and variable distribution charges

Maryland customers

285,000 customers

Potomac Edison customers served in seven Maryland counties

West Virginia customers

155,000 customers

Potomac Edison customers in Eastern Panhandle of West Virginia

Total customers served

More than six million

FirstEnergy electric distribution companies customer base

Transmission network

Approximately 24,000 miles

Transmission lines operated by FirstEnergy transmission subsidiaries

Historical Context

5 past events · Latest: Apr 15

5 events

1. Apr 15

   Supply auction update

   24h Move

   -1.0%

   Outlined timelines and structure for upcoming Ohio competitive bidding auction.

2. Apr 14

   Grid investment project

   24h Move

   -0.0%

   Announced $24M rebuild of 138‑kV line benefiting 16,000 Ohio Edison customers.

3. Apr 09

   Leadership appointment

   24h Move

   +1.0%

   Named VP Enterprise Learning to advance cultural transformation and training.

4. Apr 09

   Security leadership hire

   24h Move

   +1.0%

   Appointed Chief Security Officer to strengthen enterprise security operations.

5. Apr 01

   Earnings call scheduling

   24h Move

   +0.7%

   Set dates for Q1 2026 results release and investor teleconference webcast.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Key Terms

time-of-use rate, kilowatt-hours, on-peak, off-peak

4 terms

time-of-use rate financial

"A new residential time-of-use rate lets customers pay less for electricity..."

A time-of-use rate is a pricing plan for electricity where the cost per kilowatt-hour changes depending on the time of day—higher during busy “peak” hours and lower during quiet “off-peak” hours. Think of it like surge pricing for power: it rewards using electricity when demand is low and charges more when the grid is strained. Investors care because these rates change customer behavior, affect utility revenues and profit margins, and influence demand for batteries, energy efficiency, and renewable projects, which can shift long-term cash flow and capital needs.

kilowatt-hours technical

"based on energy use (measured in kilowatt-hours). Some charges on your bill..."

A kilowatt-hour (kWh) is a unit of energy equal to one kilowatt (1,000 watts) of power used continuously for one hour; it’s the standard way utilities measure and bill electricity. Investors use kWh to compare how much electricity a plant generates, a device consumes, or a storage system can deliver, much like liters tell you how much fuel was used — it directly ties to revenue, costs and the economic value of energy assets.

on-peak technical

"On-peak electric supply and variable distribution charges cost about 16 cents..."

On-peak describes the hours or periods when demand for electricity is highest and suppliers typically charge higher rates, similar to rush-hour traffic when roads are busiest. For investors, on-peak timing matters because it drives higher revenue for power generators, influences utility bills, and affects the value of contracts, batteries, and grid upgrades; understanding these windows helps predict cash flow and price volatility tied to energy use patterns.

off-peak technical

"Off-peak electric supply and variable distribution charges cost about 9 cents..."

Off-peak is the time period when demand for a service or product is lower than normal—examples include late-night electricity use, slower trading hours, or quiet travel days. It matters to investors because prices, revenues and operating costs often differ during these periods (companies may earn less or offer discounts, or save on costs by shifting activity), so recognizing off-peak timing helps assess earnings patterns and cost management strategies.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Shifting electricity use to times of the day when demand is lower can save money for participating residential customers

WILLIAMSPORT, Md., April 20, 2026 /PRNewswire/ -- Maryland customers of Potomac Edison, a subsidiary of FirstEnergy Corp. (NYSE: FE), now have a new way to save on their electric bill. A new residential time-of-use rate lets customers pay less for electricity when they use it during times of the day when demand on the grid is lower.

The new rate launches April 20 and offers lower prices during off-peak hours, such as mornings, late evenings and weekends – compared to weekday hours when electricity use is typically highest.

How the Time-of-Use Rate Works

With a time-of-use rate, the price of electricity changes depending on the time of day you use it. The rate difference applies to certain portions of your bill based on energy use (measured in kilowatt-hours). Some charges on your bill stay the same no matter when you use electricity. 

Through May 31, 2026:

• On-peak electric supply and variable distribution charges cost about 16 cents per kilowatt-hour.
• Off-peak electric supply and variable distribution charges cost about 9 cents per kilowatt-hour, roughly 44% less.

On‑peak hours are weekdays:

• 4 p.m. to 9 p.m. during daylight saving time
• 3 p.m. to 8 p.m. during Eastern Standard Time

Off-peak hours include:

• Overnight and early mornings
• Daytime hours outside the peak window
• All day on weekends

Electric supply charges change seasonally. For more information, visit firstenergycorp.com/touMD.

How Customers Can Lower Their Bill

Customers who shift some everyday activities to off‑peak hours may be able to reduce their monthly bills, including:

• Running the dishwasher overnight
• Doing laundry early in the morning or on weekends
• Using major appliances outside the weekday peak window

How to Enroll

There is no upfront cost to sign up. Customers can enroll by calling 1-800-686-0011. 

Eligibility is limited to customers who receive their electricity supply through Potomac Edison. Customers cannot be enrolled in the electric vehicle charger time‑of‑use rider and also participate in the residential time-of-use rate.

After enrolling, a customer's meter will be replaced with one that tracks on‑peak and off‑peak usage. The new rate will begin with the customer's next billing cycle.

Potomac Edison serves about 285,000 customers in seven counties in Maryland and about 155,000 customers in the Eastern Panhandle of West Virginia. Follow Potomac Edison at www.potomacedison.com, on X @PotomacEdison, and on Facebook at facebook.com/PotomacEdison.

FirstEnergy is dedicated to integrity, safety, reliability and operational excellence. Its electric distribution companies form one of the nation's largest investor-owned electric systems, serving more than six million customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate approximately 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy online at firstenergycorp.com and on X @FirstEnergyCorp.

View original content to download multimedia:https://www.prnewswire.com/news-releases/potomac-edison-customers-in-maryland-can-lower-their-bills-with-new-residential-time-of-use-rate-302747533.html

SOURCE FirstEnergy Corp.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What is Potomac Edison’s new residential time-of-use rate (FE) effective April 20, 2026?

It is a variable rate that charges about 16¢/kWh on-peak and 9¢/kWh off-peak through May 31, 2026. According to the company, the off-peak price is roughly 44% lower, encouraging load shift to lower-cost hours.

How can Potomac Edison (FE) customers enroll in the Maryland residential TOU rate?

Enrollment has no upfront cost and begins by calling 1-800-686-0011. According to the company, a meter replacement is required and the new TOU rate starts with the customer’s next billing cycle after installation.

Which hours are considered on-peak and off-peak under Potomac Edison’s TOU rate (FE)?

On-peak hours are weekday evenings: 4–9 p.m. DST and 3–8 p.m. EST; off-peak includes overnight, mornings, weekends, and daytime outside peak. According to the company, seasonal changes affect electric supply charge timing and amounts.

Will Potomac Edison customers with EV chargers be eligible for the residential TOU rate (FE)?

No; customers enrolled in the electric vehicle charger TOU rider cannot participate in the residential TOU rate. According to the company, the two programs are mutually exclusive to prevent overlapping rate riders.

How much could a Potomac Edison (FE) customer save by shifting usage to off-peak hours?

Direct savings depend on shifting kWh, but off-peak energy is about 9¢/kWh versus 16¢/kWh on-peak. According to the company, customers running appliances overnight or on weekends may see lower monthly bills.

Who is eligible for Potomac Edison’s Maryland residential TOU rate (FE) and how many customers does Potomac Edison serve?

Eligibility is limited to customers who receive electricity supply through Potomac Edison. According to the company, Potomac Edison serves about 285,000 customers in seven Maryland counties and about 155,000 in West Virginia.