Post Tagged with: "FirstEnergy"

The Bruce Mansfield Power Plant, FirstEnergy's largest coal-fired plant, in Beaver County on November 23, 2015. FirstEnergy officials are scheduled to meet with creditors of its struggling competitive generation unit, FirstEnergy Solutions (Credit: Andrew Rush / Pittsburgh Post-Gazette).
FirstEnergy

With power plants struggling, FirstEnergy sets up meeting with creditors

AKRON — “FirstEnergy officials are scheduled to meet with creditors of the company’s struggling competitive generation unit, FirstEnergy Solutions, which includes two Pennsylvania power plants in Beaver County employing about 1,000 people. The meeting with creditors, reported during an earnings call on Friday, is a development in the Akron, Ohio-based […]

Operating a nuclear power plant is expensive, whether it involves re-fueling, major renovation work like FirstEnergy faced at Davis-Besse 15 years ago shown here, or federally ordered upgrades following the disaster at Fukushima. And now the nuclear industry faces tough competition from independent builders of gas turbine plants. FirstEnergy has been seeking new customer fees to keep its nuclear plants profitable. But even with the extra charges, the company would probably sell the plants because it no longer wants to risk competitive markets. (Plain Dealer file )
FirstEnergy / Nuclear Energy

FirstEnergy nuclear charges crucial to operating or selling Davis Besse, Perry, says CEO

AKRON — “FirstEnergy’s top executive says the company will continue to press Ohio lawmakers for new customer-paid subsidies for its nuclear power plants even though it may not own them in the future. ‘I am going to continue to fight for this … legislation because it is the right thing […]

Letter: Taxpayers shouldn’t prop up FirstEnergy
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 […]

The Davis-Besse nuclear power plant.
FirstEnergy / Nuclear Energy / Ohio Utility Bailouts

Regardless of whether FirstEnergy nuke plants receive subsidies, electricity supply will remain reliable

CLEVELAND — “There will be no reliability issues with electricity in Northeast Ohio if the Ohio Legislature refuses to subsidize FirstEnergy Corp.’s nuclear plants in Toledo and Perry — or even if the plants close down. Those aren’t likely words that the Akron-based utility wants to hear as Ohio lawmakers […]

Credit: Tom Knox
Utilities

Ohio Senate budget bill lets PUCO charge power customers higher rate to keep up utility credit ratings

COLUMBUS — “Ohio’s utility regulator could consider a utility’s credit rating when establishing base rates paid by customers, an apparent nod to FirstEnergy Solutions, the unregulated subsidiary of Akron electric utility FirstEnergy Corp. ‘Ratepayers in all six (electric utility) service areas could pay higher electricity charges under this,’ according to […]

AEP's Clifty Creek power plant in Madison, Indiana is among the facilities covered under income guarantee plans recently approved by Ohio regulators. 
Photo By
Crowezr / Wikimedia Commons
Coal / Ohio Utility Bailouts

Proposed Ohio subsidy for coal-fired power plants now uncertain

COLUMBUS — “A proposal to subsidize two coal-fired power plants is no longer on a fast track and might not pass at all. This is a shift from last month, when House Bill 239 seemed to be moving quickly toward becoming law, despite opposition from consumer and environmental groups. The […]

The Ohio Statehouse (Credit: Tlarrow/Creative Commons)
Utilities / Wind Energy

Ohio budget amendments: another utility ‘bailout’ and a rollback of wind setbacks

COLUMBUS — “Ohio’s budget bill reported out of the Senate Finance Committee Tuesday comes with an amendment that would expressly authorize extra charges to ratepayers to support utilities’ financial health. Meanwhile, another amendment would relax the tripled wind turbine setbacks that were included at the last minute in a 2014 […]

IEEFA Report: ‘National security’ argument for saving 2 power plants is a red herring meant to distract from an Ohio Valley Electric bailout
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 Kyger Creek power plant in Cheshire, Ohio, on the Ohio River began operating in 1955 to make power for a uranium enrichment plant in Piketon, Ohio. Since 2003, the plant, which is owned by a company created by other electric utilities, has been selling its power either into wholesale markets or sending it to its member companies. Now the plant is facing competition from natural gas turbine power plants, which can make electricity at a lower cost (Credit: Ohio Valley Electric Corp).
Coal / Ohio Utility Bailouts

Don’t subsidize coal, Consumers’ Counsel, NOPEC, AARP, Ohio Manufacturers’ Association tell lawmakers

CLEVELAND — “Ohio lawmakers and opponents of controversial ‘fast-tracked’ legislation designed to shift the costs of two 62-year-old coal power plants to consumers are heading for a showdown this week. Two bills, which have been moving through both the House and Senate utilities committees, were to be voted out of […]

Davis Besse nuclear power plant (Creative Commons)
FirstEnergy / Nuclear Energy

FirstEnergy’s nuclear zero emission credits may have stalled

COLUMBUS — “FirstEnergy’s effort to convince state lawmakers that it must have more than $300 million a year in new customer charges to keep its nuclear power plants running is approaching a stall point. The Ohio Senate’s Public Utilities Committee wrapped up its fourth hearing Thursday on the special nuclear […]