Ohio Utility Bailouts

Deregulation shaved $15 billion from Ohio electric bills, lawmakers to meet Friday to re-regulate
AEP / Energy / FirstEnergy / Ohio Utility Bailouts

Deregulation shaved $15 billion from Ohio electric bills, lawmakers to meet Friday to re-regulate

CLEVELAND, Ohio — Consumers, businesses and industries saved $15 billion on electricity between 2011 and last year and are on course to save the same amount by 2020, the Northeast Ohio Public Energy Council, or NOPEC, said today. The claim is based on joint research and statistical analysis completed for […]

FirstEnergy must cut costs to avoid credit downgrade
FirstEnergy / Ohio Utility Bailouts

FirstEnergy must cut costs to avoid credit downgrade

AKRON — “Chuck Jones needs to find about $200 million. That’s roughly the amount that Jones, CEO of Akron-based FirstEnergy Corp., says he needs to find in cost savings to preserve his company’s credit rating — and ultimately to stay independent. It will mean cuts to FirstEnergy’s expenses. That includes […]

DP&L requests approval for rate hike
Dayton Power & Light / Energy / Ohio Utility Bailouts

DP&L requests approval for rate hike

DAYTON — “Dayton Power & Light is requesting approval for a seven-year, $145 million annual rate hike. DP&L, a subsidy of The AES Corp. (NYSE: AES), filed a request Oct. 11 seeking approval from the Public Utilities Commission of Ohio for a rate increase that would total slightly more than […]

Editorial: Ohio deserves better
Commentary / FirstEnergy / Ohio Utility Bailouts

Editorial: Ohio deserves better

TOLEDO — “At first glance, it appears that the Public Utilities Commission of Ohio put its proverbial foot down when it rejected FirstEnergy Corp.’s request for funding to improve its power grid. But closer scrutiny reveals that the utility seems to have been handed a ‘cash grab’ and no requirement […]

Crews install new LED lighting in the sign at FirstEnergy's Akron headquarters. Photo By FirstEnergy / Creative Commons
Energy / FirstEnergy / Ohio Utility Bailouts

FirstEnergy ‘bailout’ raises questions of corporate separation

COLUMBUS — “A new charge ordered by Ohio regulators last week could add up to $1 billion into FirstEnergy’s coffers without requiring the company to do any specific work in return. While the company says the order is ‘disappointing’ and will provide ‘insufficient’ funds, competitors and advocates call it a […]

FirstEnergy in Ohio
FirstEnergy / Ohio Utility Bailouts

IEEFA Ohio: FirstEnergy bailout plan is paying off (for FirstEnergy)

Ohio regulator nod on $600 to $1 billion in ratepayer subsidies presages a similar campaign in West Virginia COLUMBUS — “The Public Utility Commission of Ohio this week gave FirstEnergy a much smaller bailout than the company wanted. But it’s still a bailout. We expect opponents—including consumer and environmental organizations, […]

Ohio PUC rejects FirstEnergy virtual power deals
FirstEnergy / Ohio Utility Bailouts

Ohio PUC rejects FirstEnergy virtual power deals

No one cheers for alternative: $600 million over 3 years COLUMBUS — “The PUC of Ohio rejected First Energy’s ‘virtual’ power purchase agreement (PPA) proposal yesterday, but approved staff’s proposal to pay the firm $600 million over three years to shore up its financial health. The amount is less than […]

The Davis-Besse nuclear power plant might not survive, says FirstEnergy, unless its gets special treatment from the PUCO.
Coal / Energy / FirstEnergy / Ohio Utility Bailouts

PUCO gives FirstEnergy up to $200 million in surcharges a year for three years, and chance to extend increases an additional 2 years

COLUMBUS — “In a unanimous decision today, the Public Utilities Commission of Ohio approved a $204 million-a-year rate increase for FirstEnergy despite the objections of consumer groups, environmentalist and business customers. The initial increase will run for three years, with an option for the the company to ask for another […]

FirstEnergy's downtown Akron headquarters.
Energy / FirstEnergy / Ohio Utility Bailouts

FirstEnergy Corp. gets a bailout, but not the one it was hoping for

COLUMBUS — “Sometimes, “no” is better than ‘nothing,’ and that’s likely the case with the Public Utilities Commission of Ohio’s Oct. 12 ruling on Akron-based FirstEnergy Corp.‘s request for subsidies of its old coal-fired plants in Ohio. The PUCO rejected FirstEnergy’s request for a ‘retail rate stability rider’ that would […]

Ohio Utility Bailouts
AEP / Coal / Duke Energy / Energy / FirstEnergy / Freeze on Clean Energy / Ohio Utility Bailouts

Ohio Utility Bailouts

Duke Energy, AEP, and FirstEnergy teamed up to file proposals with the Public Utilities Commission of Ohio (PUCO) in 2013 and 2014 to get permission to raise consumer rates and use the profits to cover the costs of seven coal plants and one nuclear plant. These energy companies want to shift […]