Energy

Wind is the new power in America’s heartland
Energy

Wind is the new power in America’s heartland

NEW YORK, NY — “U.S. wind energy recently achieved a major milestone, which underscores a new reality that is generating power and jobs across America’s heartland. In February, low-cost clean electricity from wind turbines on the Great Plains supplied more than half (52.1%) of all power on the grid serving Americans […]

Dynegy CEO uses FirstEnergy’s words against it in nuclear-subsidy fight
FirstEnergy / Nuclear Energy

Dynegy CEO uses FirstEnergy’s words against it in nuclear-subsidy fight

COLUMBUS — “The CEO of Ohio’s largest power plant owner is using an electric utility’s own words against it in the latest battle over state energy policy. In new testimony, Dynegy Inc. CEO Bob Flexon laid out a lengthy list of reasons against proposed subsidies for FirstEnergy Corp. nuclear plants, […]

Cartoon by Rich Williams Illustration.
Energy / FirstEnergy

Nuclear subsidies distort markets, hurt business, say FirstEnergy opponents

CLEVELAND — “Business and consumer groups joined forces Tuesday to oppose FirstEnergy’s plan to change Ohio law to create new subsidies for the power company’s nuclear power plants. On the opposite side, supporting FirstEnergy, were unions, a contractor’s group, and the Perry local school district, which benefits from taxes from the Perry […]

FirstEnergy has asked Ohio lawmakers to create new regulations awarding "zero emission credits," or ZECs, to its nuclear power plants, Davis-Besse east of Toledo and Perry east of Cleveland, in recognition that they do not contribute to air pollution. The ZECs would increase customer bills by 5 percent, could not be avoided even by customers buying power from other companies and provide the company with an additional $328 million a year for up to 16 years. At the same time, FirstEnergy has not ruled out selling the power plants (Credit: Cleveland Plain Dealer).
FirstEnergy / Nuclear Energy

FirstEnergy nuclear subsidy would thwart Ohio shale gas, kill jobs says API Ohio

CLEVELAND — “The politically powerful American Petroleum Institute is opposing FirstEnergy’s legislation raising power prices to subsidize its nuclear power plants because it’s a threat to Ohio’s shale gas development. FirstEnergy wants to raise about $328 million a year for up to 16 years, for a total cost of $5.25 […]

Ohio/Pennsylvania: Bracing for economic fallout from failing power plants
Energy / FirstEnergy

Ohio/Pennsylvania: Bracing for economic fallout from failing power plants

Now is the time to plan for transition CLEVELAND — “If FirstEnergy Solutions goes bankrupt, FirstEnergy would be looking to sell or retire FES coal and nuclear assets. Given the poor performance of the portfolio (as evidenced by the recent write-down of nearly 90 percent of its value), we think […]

Davis Besse power plant near Oak Harbor (credit: Roger Lumpkin / ideastream)
FirstEnergy / Nuclear Energy

Residents fear a future without Davis Besse

CLEVELAND — “Ohio has two nuclear power plants – one is about 30 miles east of Cleveland. The other, Davis Besse, is 180 miles to the west. Both of their futures are up in the air right now: sale, closure, bankruptcy are all a possibility. And no matter what happens […]

Source: U.S. Energy Information Administration, Levelized Cost and Levelized Avoided Cost of New Generation Resources in the Annual Energy Outlook 2017
Energy / Research & Reports

Power plants’ costs and value to the grid are not easily reflected using simple metrics

WASHINGTON, DC — “Cost is one of the key factors influencing the choice of fuels and technologies used to generate electricity. Capital, maintenance, operating, and financing costs often vary significantly across technologies and fuels. In addition, regional differences in construction, fuel, transmission, and resource costs mean that location also matters. […]

IEEFA extra: Why coal bailouts won’t work
Coal / Energy

IEEFA extra: Why coal bailouts won’t work

CLEVELAND — “‘Anyone who watches the energy markets knows the coal industry is in serious trouble. The political rhetoric around the energy markets is higher than it’s been for years, if not decades. The truth of the matter is that nothing can reverse the market forces that are pushing coal […]

The Perry nuclear power plant would get a consumer-paid subsidy if a proposal by its owner FirstEnergy is approved by Ohio lawmakers. The company is also hoping the Trump administration will re-design regional wholesale power markets to give more money to companies with large coal and nuclear power plants, even if the power the generate is more costly than that of wind and gas turbine plants. (photo: JOHN KUNTZ)
Energy / FirstEnergy

FirstEnergy hoping DOE and Ohio will save its power plants

AKRON — “The electric company that championed competitive electricity markets less than a decade ago is now banking on a federal shakeup of those same markets, as well as a handout from Ohio lawmakers. FirstEnergy’s top executive today said the outcome of a 60-day U.S. Department of Energy study into […]

When FirstEnergy closed its old Lake Shore power plant rather than try to update its pollution controls, the company found itself in a disagreement with railroad companies with which it had long-term coal delivery contracts. The railroads argued the company had broken its contracts when it shut down Lake Shore and other old plants and no longer needed the coal. A negotiated settlement is pending (Credit: Marvin Fong).
FirstEnergy

FirstEnergy’s profits down, FirstEnergy Solutions could be forced into bankruptcy over dispute with railroads

AKRON — “FirstEnergy Corp. says its profits in the first three months of the year were down compared to year-ago earnings, primarily because of expenses to settle railroad coal delivery contracts it no longer needs. …The company on Thursday announced to investors in a Securities and Exchange Commission filing that […]