FirstEnergy / Uncategorized

FirstEnergy Solutions preparing new filing in bankruptcy case

The General James M. Gavin coal plant in southeast Ohio. Photo by: Analog Kid / Creative Commons

“FirstEnergy Solutions, which runs coal and nuclear plants in Ohio, is working on a new bankruptcy proposal after a federal judge denied their initial filing.

FES is filing for bankruptcy, in a restructuring plan that would officially separate the company from its parent company FirstEnergy Corp., the energy distributor.

Dick Munson, senior director for the Environmental Defense Fund, says FirstEnergy Corp. wants off the hook for bad investments in power plants that come with environmental cleanup costs.

‘The issue is, not to use that legal process as a means to shift the millions if not billions of dollars’ worth of expenses away from the company to consumers,’ Munson says.

FES will submit a new bankruptcy request. The restructuring plan says the company wants to become a fully-functional independent power producer.”

— Andy Chow, Statehouse News Bureau 

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