FirstEnergy’s $12 Million Polar Vortex Settlement Approved

A $12 million class settlement between FirstEnergy Solutions Corp.‘s bankruptcy estate and a group of customers who said they were overcharged for electricity during the 2014 “polar vortex” has received final court approval.

Judge Alan M. Koschik of the U.S. Bankruptcy Court for the Northern District of Ohio cleared the agreement Tuesday after a fairness hearing. The settlement won preliminary approval in December.

The deal allows FirstEnergy Solutions, now known as Energy Harbor LLC, to avoid litigation over extra fees it charged customers in January 2014 during the unusually frigid winter season.

Lead plaintiff Schwebel Baking Co. and a ...