Post Tagged with: "utility bailouts"

FirstEnergy Solutions would emerge from bankruptcy owned by its creditors
Energy / FirstEnergy

FirstEnergy Solutions would emerge from bankruptcy owned by its creditors

CLEVELAND — “FirstEnergy Solutions and its creditors hope FES can emerge from bankruptcy as an entirely new company, debt-free and maybe free of its union contracts at its nuclear power plants. The new company would be entirely free of FirstEnergy, have its own board of directors and issue its own […]

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.
FirstEnergy / Nuclear Energy / Utilities

State bailout of FirstEnergy Solutions would raise electric prices, stymie future gas plants

CLEVELAND — “William Siderewicz, whose companies built gas turbine power plants in Lordstown and Oregon, near Toledo, says he has all of the permits and a portion of the funding needed to build two more turbine plants next door to the plants he completed last year. But potential investors are […]

The Three Mile Island nuclear power plant.  photo: United States Department of Energy
FirstEnergy / Utilities

Rescuing PA nuclear power plants could come with conditions

HARRISBURG, PA — “Opponents to a nuclear power rescue are already lined up. They include anti-nuclear activists, the AARP, business groups including the Pennsylvania Manufacturers Association and the state’s considerable natural gas industry groups. A bailout, opponents say, means investing in outdated, inefficient and expensive power plants to supply a […]

FirstEnergy made money in 2018 after cutting ties with bankrupt FirstEnergy Solutions
Energy / FirstEnergy / Ohio Utility Bailouts

FirstEnergy made money in 2018 after cutting ties with bankrupt FirstEnergy Solutions

AKRON — FirstEnergy Corp. made a net profit of $981 million in 2018 after paying expenses and taxes. Total sales were $11.3 billion. The earnings, reported after the stock markets closed Tuesday, are a dramatic turn around from the $1.7 billion in losses the company reported for 2017 on power […]

Editorial: Propping up coal, nuclear would be needless, destructive
Coal / Energy

Editorial: Propping up coal, nuclear would be needless, destructive

COLUMBUS — “President Donald Trump’s desire to prop up money-losing coal and nuclear plants is absurd enough on its face that one doesn’t need a lot of help arguing against it. Coal is losing its place to cleaner and cheaper natural gas. It is dirty and dangerous not only in the […]

FirstEnergy’s request for Trump relief draws more critics
Coal / Energy / FirstEnergy

FirstEnergy’s request for Trump relief draws more critics

TOLEDO — “The Office of the Ohio Consumers’ Counsel has filed a formal protest with U.S. Bankruptcy Judge Alan M. Koschik about FirstEnergy’s request for an emergency order from Mr. Perry to ensure the utility’s nuclear and coal-fired power plants remain economically viable. Created by the Ohio General Assembly in 1976, the […]

Trump to save coal, nuclear plants that are unable to compete
Coal / Energy / FirstEnergy

Trump to save coal, nuclear plants that are unable to compete

CLEVELAND — “The Trump Administration is moving to temporarily save old coal and nuclear plants like those owned by FirstEnergy. According to wire reports, the president has asked Secretary of Energy Rick Perry to create a ‘strategic electric generation reserve’ loosely patterned after the Strategic Petroleum Reserve created more than 40 […]

Ohio Valley Electric Corp.'s 1,304-megawatt Clifty Creek coal plant in Madison, Ind. Crowezr/Wikipedia
AEP / Coal / Duke Energy / FirstEnergy / Ohio Utility Bailouts

Money pit or fuel hedge? In Midwest, it depends who’s paying

WASHINGTON, DC — “How can two companies tell a federal judge that the 60-year-old coal plants are a financial albatross and simultaneously argue to utility regulators that the plants are a good investment for consumers? And rely on the work of the same consultant? The answer depends on who’s paying […]

Timeline: FirstEnergy bet on coal, nuclear and “bailouts”
Energy / FirstEnergy

Timeline: FirstEnergy bet on coal, nuclear and “bailouts”

CLEVELAND — “FirstEnergy’s financial predicament didn’t spring up overnight. The company has spent years asking Ohio lawmakers and regulators for extra money from ratepayers. Its lawyers and lobbyists have urged the federal government to give preferences to coal and nuclear plants to protect them from competition.  And now the company is […]

Power plant owners press Trump to reject bailout for coal, nuclear
FirstEnergy

Power plant owners press Trump to reject bailout for coal, nuclear

WASHINGTON, DC — “Power plant owners are urging President Trump to reject a plea by a Ohio power provider to save its fleet of coal and nuclear plants that are slated to shut down in the next three years, saying it would be legally wrong and jeopardize his America First […]