FirstEnergy

Jessica Smith-Szabo, staff director for Ohio Citizen Action, addresses the crowd in Columbus at a rally protesting FirstEnergy’s utility bailout request in April 2015.
Coal / Energy / FirstEnergy

FirstEnergy filing could delay court ruling in ‘bailout’ case

COLUMBUS — “Despite a big win from Ohio regulators last month, FirstEnergy has filed papers asking for still more review. The move could ultimately delay a court ruling on a $200 million per year charge to prop up the company’s credit rating. At issue is a ‘distribution modernization rider’ that the Public […]

AEP / Dayton Power & Light / Duke Energy / Energy / FirstEnergy

Interested party meetings continuing on OVEC bills

COLUMBUS — “Stakeholders continue to debate a Senate bill to grant cost recovery for utility owners of the Ohio Valley Electric Corporation. But opponents, viewing the bill (SB 155) and its House companion (HB 239) as ‘bailouts’ at the expense of consumers, remain unconvinced according to one party planning to participate […]

FirstEnergy Corp. plans to retire units 1 through 4 at the seven-unit W.H. Sammis coal plant in Stratton, Ohio, in May 2020. Executives at FirstEnergy and Ohio coal producer Murray Energy have tried unsuccessfully to get the U.S. Department of Energy to invoke an emergency order that would keep FirstEnergy's coal plants online.
Coal / Energy / FirstEnergy

Experts: DOE had no choice but to reject lifeline for FirstEnergy coal units

NEW YORK, NY — “The U.S. Department of Energy’s decision to rebuff pleas for immediate action to preserve a fleet of FirstEnergy Corp. unregulated coal plants was not hugely surprising to industry observers, who said the agency likely did not want to pre-empt current procedures amid industry stakeholder and legal […]

Standard & Poor's has downgraded the bond rating of FirstEnergy Solutions, the unregulated subsidiary of FirstEnergy Corp., because it believes the company will file for bankruptcy protection before 2018. S&P's in the same week raised its outlook for parent company FirstEnergy because it believes the corporation will sell off or somehow move its power plants into a regulated company (Plain Dealer file).
FirstEnergy

FirstEnergy Solutions downgraded on bankruptcy expectation, FE parent seen as stable

CLEVELAND — “Standard & Poor’s has further lowered its ratings for bonds sold by FirstEnergy Solutions because it believes the company’s negotiations with creditors is a first step toward its seeking bankruptcy protection. At the same time, S&P has revised its outlook for parent company FirstEnergy Corp. from negative to […]

State regulators approved a plan to help subsidize the Davis-Besse Plant in Ottawa County and other power plants across Ohio by having customers act like investors.
Energy / FirstEnergy

Kasich not backing bailout for Ohio nuclear plants

Governor says FirstEnergy needs to figure out how to keep facilities operating OREGON — “Gov. John Kasich said Monday that he can’t see supporting a proposed financial rescue that FirstEnergy Corp. maintains is needed to keep alive the state’s two aging nuclear plants. He said it’s up to the utility to […]

FirstEnergy headquarters in Akron.
Coal / Energy / FirstEnergy

PUCO rejects challenge to FirstEnergy special subsidy, you’ll keep paying more

CLEVELAND — “The Public Utilities Commission of Ohio today rejected multiple appeals of its October 2016 ruling giving FirstEnergy an extra $204 million a year for up to five years, officially for upgrades to the company’s local wires and substations, but say opponents, actually allowing the company to use the money in […]

Ohio Statehouse (Wikimedia Commons)
Coal / Energy / FirstEnergy / Renewable Energy

As Ohio legislature regroups, power plant subsidy debate to continue

COLUMBUS — “As the Ohio legislative session resumes next month, subsidies for nuclear generation and 1950s-era coal plants are expected to once again be on the table. Other pending electricity bills deal with renewable energy, energy efficiency, corporate separation of utilities and consumer protections. The outcome could shape Ohio’s electricity […]

Dick Munson is EDF's Director, Midwest Clean Energy.
Coal / Energy / FirstEnergy

Tomorrow is judgement day for FirstEnergy’s bailout

COLUMBUS — “Tomorrow, the Public Utilities Commission of Ohio (PUCO) will issue its rehearing order on FirstEnergy’s bailout plea. If, like us, you have vacation brain, here’s a refresher: Last October, the PUCO gave a tentative $625-million subsidy to reduce FirstEnergy’s debt associated with its bad business decisions. Admittedly less than the […]

The Bruce Mansfield Power Plant, FirstEnergy's largest coal-fired plant, in Beaver County on November 23, 2015. FirstEnergy officials are scheduled to meet with creditors of its struggling competitive generation unit, FirstEnergy Solutions (Credit: Andrew Rush / Pittsburgh Post-Gazette).
FirstEnergy

With power plants struggling, FirstEnergy sets up meeting with creditors

AKRON — “FirstEnergy officials are scheduled to meet with creditors of the company’s struggling competitive generation unit, FirstEnergy Solutions, which includes two Pennsylvania power plants in Beaver County employing about 1,000 people. The meeting with creditors, reported during an earnings call on Friday, is a development in the Akron, Ohio-based […]

Operating a nuclear power plant is expensive, whether it involves re-fueling, major renovation work like FirstEnergy faced at Davis-Besse 15 years ago shown here, or federally ordered upgrades following the disaster at Fukushima. And now the nuclear industry faces tough competition from independent builders of gas turbine plants. FirstEnergy has been seeking new customer fees to keep its nuclear plants profitable. But even with the extra charges, the company would probably sell the plants because it no longer wants to risk competitive markets. (Plain Dealer file )
FirstEnergy / Nuclear Energy

FirstEnergy nuclear charges crucial to operating or selling Davis Besse, Perry, says CEO

AKRON — “FirstEnergy’s top executive says the company will continue to press Ohio lawmakers for new customer-paid subsidies for its nuclear power plants even though it may not own them in the future. ‘I am going to continue to fight for this … legislation because it is the right thing […]