Energy / FirstEnergy / Nuclear Energy / Ohio Utility Bailouts

Costs of FirstEnergy nuclear bailout bill could exceed out-of-pocket subsidies

An analysis by grid operator PJM considers losses if Ohio nuclear subsidies deter new generation.

Perry Nuclear Power Station as seen from Headlands State Park, Mentor, Ohio (Credit: Wainstead/Public Domain)

COLUMBUS — “A bill to subsidize FirstEnergy Solutions’ two Ohio nuclear plants could cost customers even more than the hundreds of millions of dollars in direct charges proposed to prop up those plus two older coal plants.

A new analysis from grid operator PJM concludes that keeping FirstEnergy’s nuclear plants open could also cost ratepayers as much as $16 million a year in lost savings by discouraging cheaper gas generation from coming online.

Asim Haque, PJM’s executive director for strategic policy and external affairs,testified about the new analysis before the Ohio Senate Energy and Public Utilities Committee on Wednesday.”

— Kathianne M Kowalski, Midwest Energy News

read more 

 

Tags: