FirstEnergy

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 […]

Letter: Taxpayers shouldn’t prop up FirstEnergy
FirstEnergy / Ohio Utility Bailouts

Letter: Taxpayers shouldn’t prop up FirstEnergy

COLUMBUS — “Ohio’s legislators just shot down a measure that would have increased electricity rates so utility giants could bolster their finances and credit ratings. The state’s regulators should do the same. FirstEnergy and other utilities in recent years have made numerous bad business decisions, particularly their investments in old […]

The Davis-Besse nuclear power plant.
FirstEnergy / Nuclear Energy / Ohio Utility Bailouts

Regardless of whether FirstEnergy nuke plants receive subsidies, electricity supply will remain reliable

CLEVELAND — “There will be no reliability issues with electricity in Northeast Ohio if the Ohio Legislature refuses to subsidize FirstEnergy Corp.’s nuclear plants in Toledo and Perry — or even if the plants close down. Those aren’t likely words that the Akron-based utility wants to hear as Ohio lawmakers […]

The Oregon Clean Energy Center, an 860-megawatt gas turbine power plant east of Toledo, is expected to begin commercial operations within weeks. Private developers raised the $800 million to build the plant, which will sell its power into wholesale electric markets. Oregon's developers are building a similar plant in Lordstown and are seeking permits to build a second plant at each location. Utility legislation pending before the Ohio legislature to subsidize old nuclear and coal power plants could derail those plans. (Oregon Clean Energy Center)
AEP / Coal / Energy / FirstEnergy / Utilities

Electric bill increases guaranteed in Ohio if certain legislation passes

CLEVELAND — “A power struggle has erupted in the Statehouse pitting Ohio’s traditional electric utilities against new independent power producers, as well as consumer, environmental and business groups wary of rate increases. The outcome will have an impact not only on what consumers will pay for power in the future, but […]