Post Tagged with: "FirstEnergy"

Judge derails FES plan to exit bankruptcy while lawmakers consider bail-out bills
FirstEnergy / Ohio Utility Bailouts

Judge derails FES plan to exit bankruptcy while lawmakers consider bail-out bills

AKRON — “After presiding over a full day of arguments, the judge this week refused to approve a complicated disclosure statement the company must send to its creditors who will then have the right to approve or reject the company’s plan to re-organize itself, after which the court will still […]

Who’s afraid of FirstEnergy Solutions’ restructuring plan? Every government agency that has seen it
FirstEnergy

Who’s afraid of FirstEnergy Solutions’ restructuring plan? Every government agency that has seen it

PITTSBURGH, PA — “Under the plan, the restructured company would emerge from bankruptcy owning the undesirable coal power plants and nuclear units that drove the division into bankruptcy — including two power stations in Beaver County -— along with the retail customer business that FirstEnergy Corp. had earlier agreed to […]

FirstEnergy Solutions restructuring plan hits roadblock as federal agencies object
FirstEnergy / Ohio Utility Bailouts

FirstEnergy Solutions restructuring plan hits roadblock as federal agencies object

CLEVELAND — “The U.S. Securities and Exchange Commission argues that the FirstEnergy Solutions restructuring plan is against the law because it eliminates any responsibility of ‘non-debtor third parties,’ such as FirstEnergy executives and directors, of any liability ‘with respect to any acts taken or omitted in connection with or related to the […]

Ohio’s grand bargain on energy policy
Nuclear Energy

Ohio’s grand bargain on energy policy

“As evidenced by last session’s bill title and recent conversations in House Committee meetings, the proponents of bailing out these two plants consistently point to the benefits of clean, or carbon-free energy as support for placing the economic future of the plants on the backs of Ohio’s electricity customers. It certainly is […]

FirstEnergy won’t say what it’s done with Ohio grid modernization money
Energy / FirstEnergy

FirstEnergy won’t say what it’s done with Ohio grid modernization money

Ohio regulators let FirstEnergy collect $168 million a year from ratepayers with virtually no strings attached for how it is spent COLUMBUS — “Ohio ratepayers have paid FirstEnergy’s utilities roughly a quarter of a billion dollars since January 2017 under a distribution modernization rider. Now, critics say FirstEnergy is stalling on […]

Lobbying: Longtime aide cashes in after fixing Perry’s ‘oops’ image
Energy

Lobbying: Longtime aide cashes in after fixing Perry’s ‘oops’ image

WASHINGTON, DC — “Jeff Miller directed Rick Perry’s 2016 presidential campaign and shepherded the Energy secretary through the Senate confirmation process. Now, he’s cashing in. A handful of energy companies paid Miller’s recently launched lobbying practice $1.17 million through the first nine months of 2017, federal lobbying disclosures show. The […]

FirstEnergy wants to raise rates by 2 percent for grid upgrades
FirstEnergy / Utilities

FirstEnergy wants to raise rates by 2 percent for grid upgrades

COLUMBUS — “FirstEnergy wants to increase electricity rates by up to 2 percent for three years to make some $450 million in improvements to the grid. Any increase in electric bills would require approval by the Public Utilities Commission of Ohio. The utility hopes the commission will OK the proposal by May, […]

Efforts ramp up to save or sell Davis-Besse
FirstEnergy / Nuclear Energy

Efforts ramp up to save or sell Davis-Besse

OAK HARBOR — “There’s still a chance that FirstEnergy could find a willing buyer or legislative remedy for its Davis-Besse Nuclear Power Station, which could close next year. Before the company finishes its review in 2018 and makes a decision on the Davis-Besse site, FirstEnergy is also waiting to hear soon […]

Ohio’s nuclear future uncertain, subsidies in New York, Illinois get court victories
FirstEnergy / Nuclear Energy

Ohio’s nuclear future uncertain, subsidies in New York, Illinois get court victories

COLUMBUS — “Bills going through the Ohio legislature that would subsidize the state’s two nuclear power plants have stalled, but similar energy credits approved in Illinois and New York have won their first round of legal battles. FirstEnergy has been lobbying for a Zero Emission Nuclear Resource Program or ‘ZEN’ […]

IEEFA Update: FirstEnergy, out of step with the times, sells gas and hydro assets to shore up fading coal-fired plants
Coal / FirstEnergy

IEEFA Update: FirstEnergy, out of step with the times, sells gas and hydro assets to shore up fading coal-fired plants

As American electricity markets modernize, an Ohio utility stays the same CLEVELAND — “If there’s a standout feature in today’s fast-changing electricity-generation landscape, it’s that coal-fired and nuclear power plants cannot compete with those that run on natural gas or renewable energy. This will remain the case for the foreseeable […]