FirstEnergy / Ohio Utility Bailouts

Letter: Taxpayers shouldn’t prop up FirstEnergy

COLUMBUS — “Ohio’s legislators just shot down a measure that would have increased electricity rates so utility giants could bolster their finances and credit ratings. The state’s regulators should do the same.

FirstEnergy and other utilities in recent years have made numerous bad business decisions, particularly their investments in old coal-fired power plants when the cost of natural gas was plummeting. Rather than accept responsibility for those uneconomic generators by cutting executive bonuses or shareholder dividends, the power companies have been asking the government to force Ohioans to bail them out.”

— John Finnigan, Senior Counsel, Environmental Defense Fund, Columbus Dispatch

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