Duke Energy / Energy / FirstEnergy

Duke moves to stop FirstEnergy Solutions from exiting Ohio co-op

  • Consumer advocates are worried that a bankruptcy court decisionallowing FirstEnergy Solutions (FES) to withdraw from the Ohio Valley Electric Corporation (OVEC), which operates a pair of coal plants, could wind up raising prices for retail consumers.
  • Both OVEC and Duke Energy of Ohio, which owns a part of the power cooperative, have filed for a rehearing of the decision in the U.S. Bankruptcy Court of the Northern District of Ohio, Eastern Division. Both also requested the appeal be moved out of bankruptcy court and into the U.S. District Court for the Northern District of Ohio.
  • FES filed for Chapter 11 bankruptcy protection earlier this year, as its parent company, FirstEnergy Corp., sought to transform itself into a fully-regulated utility company. The court’s decision allowing FES to exit OVEC could avoid almost $60 million in annual payments to support the co-op’s power plants

— Robert Walton, Utility Dive

Read more