Regulatory Matters (Tables)

12 Months Ended

Dec. 31, 2019



Company	Rates Effective	Allowed Debt/Equity	Allowed ROE
CEI	May 2009	51% / 49%	10.5%
ME⁽¹⁾	January 2017	48.8% / 51.2%	Settled⁽²⁾
MP	February 2015	54% / 46%	Settled⁽²⁾
JCP&L	January 2017	55% / 45%	9.6%
OE	January 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⁾
TE	January 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.

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, 2019:



Company	Rates Effective	Capital Structure	Allowed ROE
ATSI	January 1, 2015	Actual (13 month average)	10.38%
JCP&L	June 1, 2017⁽¹⁾	Settled⁽¹⁾⁽³⁾	Settled⁽¹⁾⁽³⁾
MP	March 21, 2018⁽²⁾	Settled⁽³⁾	Settled⁽³⁾
PE	March 21, 2018⁽²⁾	Settled⁽³⁾	Settled⁽³⁾
WP	March 21, 2018⁽²⁾	Settled⁽³⁾	Settled⁽³⁾
MAIT	July 1, 2017	Lower of Actual (13 month average) or 60%	10.3%
TrAIL	July 1, 2008	Actual (year-end)	12.7% (TrAIL the Line & Black Oak SVC) 11.7% (All other projects)

⁽¹⁾ Effective on January 1, 2020, JCP&L has implemented a forward-looking formula rate, which has been accepted by FERC, subject to refund, pending further hearing and settlement proceedings.

⁽²⁾See FERC Actions on Tax Act below.

⁽³⁾FERC-approved settlement agreements did not specify.