Post Tagged with: "Davis Besse"

The more you learn about the proposed FirstEnergy bailout, the less you’ll like it
FirstEnergy / Nuclear Energy

The more you learn about the proposed FirstEnergy bailout, the less you’ll like it

COLUMBUS — “Last week’s hearing on FirstEnergy’s nuclear bailout saw numerous people testifying against the unnecessary subsidies. As a reminder, the Ohio-based utility wants everyday Ohioans to pay for its bad business decisions, and is trying to get a hefty bailout – to the tune of $5.25 billion – for […]

All six of FirstEnergy Solutions' coal and nuclear plants, four of which are in Ohio, are in danger of closing. Photo by NRC
Energy / FirstEnergy

FirstEnergy Solutions facing risky future

CLEVELAND — “Akron-based FirstEnergy Solutions is in trouble. So are the Ohio communities where it owns power plants. And the state should be preparing now for the economic fallout that’s about to come as a result of plant closures. That’s the take of the Institute for Energy Economics and Financial […]

Dynegy CEO uses FirstEnergy’s words against it in nuclear-subsidy fight
FirstEnergy / Nuclear Energy

Dynegy CEO uses FirstEnergy’s words against it in nuclear-subsidy fight

COLUMBUS — “The CEO of Ohio’s largest power plant owner is using an electric utility’s own words against it in the latest battle over state energy policy. In new testimony, Dynegy Inc. CEO Bob Flexon laid out a lengthy list of reasons against proposed subsidies for FirstEnergy Corp. nuclear plants, […]

Cartoon by Rich Williams Illustration.
Energy / FirstEnergy

Nuclear subsidies distort markets, hurt business, say FirstEnergy opponents

CLEVELAND — “Business and consumer groups joined forces Tuesday to oppose FirstEnergy’s plan to change Ohio law to create new subsidies for the power company’s nuclear power plants. On the opposite side, supporting FirstEnergy, were unions, a contractor’s group, and the Perry local school district, which benefits from taxes from the Perry […]

FirstEnergy has asked Ohio lawmakers to create new regulations awarding "zero emission credits," or ZECs, to its nuclear power plants, Davis-Besse east of Toledo and Perry east of Cleveland, in recognition that they do not contribute to air pollution. The ZECs would increase customer bills by 5 percent, could not be avoided even by customers buying power from other companies and provide the company with an additional $328 million a year for up to 16 years. At the same time, FirstEnergy has not ruled out selling the power plants (Credit: Cleveland Plain Dealer).
FirstEnergy / Nuclear Energy

FirstEnergy nuclear subsidy would thwart Ohio shale gas, kill jobs says API Ohio

CLEVELAND — “The politically powerful American Petroleum Institute is opposing FirstEnergy’s legislation raising power prices to subsidize its nuclear power plants because it’s a threat to Ohio’s shale gas development. FirstEnergy wants to raise about $328 million a year for up to 16 years, for a total cost of $5.25 […]

Ohio/Pennsylvania: Bracing for economic fallout from failing power plants
Energy / FirstEnergy

Ohio/Pennsylvania: Bracing for economic fallout from failing power plants

Now is the time to plan for transition CLEVELAND — “If FirstEnergy Solutions goes bankrupt, FirstEnergy would be looking to sell or retire FES coal and nuclear assets. Given the poor performance of the portfolio (as evidenced by the recent write-down of nearly 90 percent of its value), we think […]

Davis Besse power plant near Oak Harbor (credit: Roger Lumpkin / ideastream)
FirstEnergy / Nuclear Energy

Residents fear a future without Davis Besse

CLEVELAND — “Ohio has two nuclear power plants – one is about 30 miles east of Cleveland. The other, Davis Besse, is 180 miles to the west. Both of their futures are up in the air right now: sale, closure, bankruptcy are all a possibility. And no matter what happens […]

The Perry nuclear power plant would get a consumer-paid subsidy if a proposal by its owner FirstEnergy is approved by Ohio lawmakers. The company is also hoping the Trump administration will re-design regional wholesale power markets to give more money to companies with large coal and nuclear power plants, even if the power the generate is more costly than that of wind and gas turbine plants. (photo: JOHN KUNTZ)
Energy / FirstEnergy

FirstEnergy hoping DOE and Ohio will save its power plants

AKRON — “The electric company that championed competitive electricity markets less than a decade ago is now banking on a federal shakeup of those same markets, as well as a handout from Ohio lawmakers. FirstEnergy’s top executive today said the outcome of a 60-day U.S. Department of Energy study into […]

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

FirstEnergy CEO says bill is no bailout

COLUMBUS — “FirstEnergy’s president on Tuesday urged lawmakers to require consumers to pay more to keep the lights on at its two struggling nuclear power plants, or permanently risk losing a reliable and valuable source of electricity. Chuck Jones dismissed suggestions that House Bill 178 and its companion Senate Bill […]

FirstEnergy's request that its customers should pay a little extra every month to keep the Davis-Besse nuclear reactor operating has put the company in the middle of a regulatory battle both in Ohio and before the Federal Energy Regulatory Commission. Now financial analysts are concerned about the outcome.
Energy / FirstEnergy

FirstEnergy nuke subsidy testimony begins, $300 million a year at stake

CLEVELAND — “FirstEnergy’s latest effort to funnel more money from its customers to its struggling power plants got under way late Tuesday with a plea to lawmakers from the company’s top executive. ‘Ohio cannot afford to continue heading down a path that could lead to less fuel-diverse and fewer homegrown […]