Post Tagged with: "FirstEnergy"

The General James M. Gavin coal plant in southeast Ohio. Photo by: Analog Kid / Creative Commons
Coal / FirstEnergy / Nuclear Energy / Ohio Citizen Action / Ohio Consumers Power Alliance

Coal, nuclear cleanup costs central to FirstEnergy’s rejected bankruptcy plan

“Some of the former plant sites run by FirstEnergy and its predecessors were ‘really dirty coal plants,’ said Dick Munson, who directs clean energy efforts in the Midwest for the Environmental Defense Fund. ‘Some also have coal ash ponds that are just things that you want to get cleaned up. […]

FirstEnergy seeks bailout for 60-year-old Davis-Besse Nuclear Power Plant. Money going to nuclear could take a large cut from investment in wind and solar.
Energy / FirstEnergy / Renewable Energy / Solar Energy / Wind Energy

Ohio’s FirstEnergy nuclear bailout bill could undermine funding for renewables and efficiency

“Ohio’s plan stands in stark contrast to the nuclear incentive programs that have been rolled out in states including Connecticut, New Jersey, New York and Illinois. While these states have largely built their nuclear support programs on the foundation of existing state clean energy and carbon reduction policies, Ohio’s plan would actually undermine existing payment structures […]

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

Davis-Besse’s future coming down to the wire

CARROLL TOWNSHIP — “Neil Waggoner, a campaign representative for Sierra Club’s Beyond Coal Campaign in Ohio, described the draft legislation as a “farce.” He said in an email Friday that it would it force Ohioans to pay more each month on their electric bills to bail out old nuclear plants that are losing […]

The General James M. Gavin coal plant in southeast Ohio. Photo by: Analog Kid / Creative Commons
FirstEnergy / Uncategorized

FirstEnergy Solutions preparing new filing in bankruptcy case

“FirstEnergy Solutions, which runs coal and nuclear plants in Ohio, is working on a new bankruptcy proposal after a federal judge denied their initial filing. FES is filing for bankruptcy, in a restructuring plan that would officially separate the company from its parent company FirstEnergy Corp., the energy distributor. Dick […]

Judge puts up major roadblock in FirstEnergy Solutions’ bankruptcy case
FirstEnergy / Utilities

Judge puts up major roadblock in FirstEnergy Solutions’ bankruptcy case

“State and federal regulators, however, seem to not have been heavily considered, or at least not brought to the table, and over the past few weeks have objected. They’ve argued in filings that it’s not the role of a bankruptcy court to relieve parent FirstEnergy of liability for environmental damage […]

Standard & Poor's has downgraded the bond rating of FirstEnergy Solutions, the unregulated subsidiary of FirstEnergy Corp., because it believes the company will file for bankruptcy protection before 2018. S&P's in the same week raised its outlook for parent company FirstEnergy because it believes the corporation will sell off or somehow move its power plants into a regulated company (Plain Dealer file).
FirstEnergy / Ohio Utility Bailouts

FES and FE have created a ‘scheme’ that is an ‘abuse of the bankruptcy system’: Feds say

CLEVELAND — “In furious filings at the start of this past weekend, attorneys for federal and state Environmental Protection Agencies tore apart the arrangement that FE and FES made last fall in which the parent promised nearly $1 billion in cash and commitments in exchange for FES absolving FE from […]

Perry Nuclear Power plant, about 30 miles east of Cleveland
FirstEnergy / Nuclear Energy

Bill to save Perry Nuclear Power Plant to be unveiled soon

“A new Ohio House Bill with efforts to save the state’s two nuclear power plants could be unveiled in as early as the next few days. State Rep. Jamie Callender, R-Concord Township, said the new bill is going to have a ‘more holistic’ approach. ‘It’s not going to be a […]

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 […]