Ohio Utility Bailouts / Research & Reports

IEEFA Report: ‘National security’ argument for saving 2 power plants is a red herring meant to distract from an Ohio Valley Electric bailout

CLEVELAND — “The Institute for Energy Economics and Financial Analysis (IEEFA) today published a research brief questioning a bill in the Ohio legislature that would bail out two failing coal-fired power plants owned by the Ohio Valley Electric Corporation (OVEC) and keep the plants alive at huge expense to ratepayers.

The plants in question, Kyger Creek and Clifty Creek, were built sixty years ago to provide power to the now defunct Piketon Uranium Enrichment Facility.

The IEEFA brief— It Is Time to Retire, Not Bail Out, OVEC’s Two Coal Plants—notes that the bill before legislators is the latest in a series of proposals by Ohio’s electric utilities over the past several years to provide life supports to coal and nuclear plants that are no longer competitive with natural gas and renewable energy.

‘The new twist in this legislation is to designate these two plants as ‘national security generation resources,’ which is a red herring because this is nothing but a bail out, plain and simple, for the owners of the plant,’ said David Schlissel, IEEFA’s director of resource planning analysis and author of the brief.

Institute for Energy Economics and Financial Analysis

link to full press release

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