Ohio Utility Bailouts

Study: Ohio opt-out will cost state billions in benefits
AEP / Coal / Ohio Utility Bailouts

Study: Ohio opt-out will cost state billions in benefits

WASHINGTON, DC — “Our new research shows that utility customers would pay a hefty price if more large customers were allowed to opt out of energy efficiency programs. In Ohio’s case, they would pay billions of dollars. Fundamental fairness suggests that because these programs benefit everyone, everyone should pay for […]

The more electricity regulators delay, the more customers pay
FirstEnergy / Ohio Utility Bailouts

The more electricity regulators delay, the more customers pay

COLUMBUS — “Remember the old ‘money booths,’ in which game show participants got to grab as many dollars as they could before the timer went off? Well, FirstEnergy’s the lucky contestant; everyday Ohioans are supplying the cash, and the Public Utilities Commission of Ohio (PUCO) is refusing to call time. […]

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
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 […]

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