FirstEnergy

IEEFA Research

IEEFA Report: A Cynical Re-Regulation Strategy in West Virginia

IEEFA Report: A Cynical Re-Regulation Strategy in West Virginia

FirstEnergy’s Machinations Around the Pleasants Power Station Are Designed to Shift Risk to Ratepayers

In seeking to get the West Virginia Public Service Commission to allow it to sell all or a portion of its Pleasants Power Station, Ohio-based FirstEnergy Corp. is following a strategy of re-regulation that stands to benefit shareholders at ratepayer expense. The coal-fired 1,300-megawatt Pleasants plant is currently owned by a FirstEnergy deregulated subsidiary, Allegheny […]

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IEEFA Ohio: Damn Tradition, Bailouts Are Where It’s At

IEEFA Ohio: Damn Tradition, Bailouts Are Where It’s At

Update: FirstEnergy Piles Insult Onto Billions of Dollars in Injury by Threatening to Move Its Headquarters From Akron

Call me old-fashioned, but I’ve always thought investor-owned electric utilities were set up to provide power to consumers who paid for what they got.    In states where electricity is deregulated, utility companies compete for customers—just like any other business does. And in states where utilities are regulated, public-utility commissions determine how rates are set […]

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FirstEnergy’s Scheme to Protect Aging Power Plants in Ohio Will Cost Ratepayers $4 Billion

FirstEnergy’s Scheme to Protect Aging Power Plants in Ohio Will Cost Ratepayers $4 Billion

A Utility Company’s Subsidy Plan Ignores the New Energy Economy

We’ve published a report today that outlines in fresh detail how the proposed bailout of the Ohio utility giant FirstEnergy is a raw deal for ratepayers. Our report, “A $4 Billion Bailout in the Buckeye State,” concludes that the FirstEnergy scheme, if approved by the Pubic Utility Commission of Ohio, would cost ratepayers across northern […]

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In Ohio, AEP and FirstEnergy Adopt an Audacious Strategy That Could Cost Ratepayers Dearly

In Ohio, AEP and FirstEnergy Adopt an Audacious Strategy That Could Cost Ratepayers Dearly

A Model First Established in West Virginia Is Being Pushed Now in the Buckeye State

We’ve posted a research note today that explains how reregulation schemes in Ohio by FirstEnergy and AEP bear a striking resemblance to one approved in West Virginia that resulted in a recent push to raise electricity rates by 12.5 percent. The gist of our memo, “West Virginia Bailout Emboldens FirstEnergy and AEP in Ohio,” is […]

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Report: FirstEnergy Seeks a Subsidized Turnaround

Report: FirstEnergy Seeks a Subsidized Turnaround

FirstEnergy: A Major Utility Seeks a Subsidized Turnaround (pdf) By Tom Sanzillo, Director of Finance and Cathy Kunkel, Fellow Institute for Energy Economics and Financial Analysis

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Report: Mountain State Maneuver: AEP and FirstEnergy try to stick ratepayers with risky coal plants

Report: Mountain State Maneuver: AEP and FirstEnergy try to stick ratepayers with risky coal plants

Mountain State Maneuver: AEP and FirstEnergy try to stick ratepayers with risky coal plants (pdf)      

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More News and Commentary

FirstEnergy Continues to Be Plagued by Its Coal Entanglements

Cleveland Plain Dealer: FirstEnergy Corp. says its profits in the first three months of the year were down compared to year-ago earnings, primarily because of expenses to settle railroad coal delivery contracts it no longer needs. The company on Thursday after markets closed reported that it earned $205 million, or 46 cents per share, on […]

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Coal ‘Death Slide’ Manifested Large in Montana

KGVO Billings: There has been a mighty effort to save Colstrip Units 1 and 2 and stave off the elimination of hundreds of jobs, and millions in tax revenue, however one energy economist says the effort is futile because coal is in a death spiral. David Schlissel is with the Institute For Energy Economics and […]

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FirstEnergy Continues to Reel From Bad Bets on Coal

E&E News: Months after announcing plans to exit the competitive generation business, FirstEnergy Corp. continues to be punished by a long-term bet the company made on coal years earlier. In a Securities and Exchange Commission filing yesterday, the Akron-based utility said an arbitration panel ruled it breached a coal delivery contract by cancelling a decade […]

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Op-Ed: No to Ratepayer-Finance Bailouts in Ohio

Columbus Dispatch: Using more electricity means your monthly utility bill goes up. And using less means your bill goes down, right? That’s what you’d expect, but that’s not what Ohio households will experience if the state’s Public Utilities Commission goes along with new proposals from the state’s leading utility companies. AEP Ohio, Duke Energy, and […]

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FirstEnergy Hatches a New Bailout Strategy in Ohio

Toledo Blade: Calling warnings of the Davis-Besse nuclear power plant’s premature closure “real” and the need for a bailout “urgent,” FirstEnergy Corp.’s top nuclear official left little doubt Friday that Ottawa County’s largest employer is in trouble. Sam Belcher, FirstEnergy’s chief nuclear officer, said the utility’s other nuclear plants — the Perry nuclear plant east […]

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FirstEnergy Files Its Bid to Have Customers Bail Out West Virginia Power Plant

Charleston Gazette Mail: MonPower and Potomac Edison insist their request to purchase the Pleasants Power Station from fellow FirstEnergy subsidiary Allegheny Energy Supply is the best option for the companies and their ratepayers, citing low cost, a better chance to avoid costly penalties and local economic benefits. However, advocacy groups such as West Virginians for […]

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How Ohio Utilities Perpetuate Their Failing Business Models

Midwest Energy News: With Ohio’s energy and energy efficiency standards again under attack, a new policy paper from Ohio State University attributes the lion’s share of electricity cost increases since 2008 to utilities and provisions that insulate them from full competition. None of Ohio’s transmission and distribution utilities have moved to the Market Rate Offers […]

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FirstEnergy’s Latest Subsidy Strategy

Tom Knox for Columbus Business First: The fight over the future of Ohio’s legacy power plants is about to heat up with a new wrinkle as a utility attempts to have customers subsidize the state’s two nuclear power plants. Ohio just labored through a similar debate on a question roiling energy policy in several states: […]

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‘Regulatory Battle’ Seen Around FirstEnergy’s Push to Put West Virginia Power Plant Risk on Ratepayers

Darren Sweeney for SNL: Monongahela Power Co.’s search for 1,300 MW of generation capacity to fill an expected capacity shortfall seems routine on its face, but a long and contentious battle is likely lurking. The FirstEnergy Corp. utility, which primarily operates in West Virginia, said in December 2016 that it is seeking proposals for the […]

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Questions Mount on FirstEnergy Subsidy Scheme for West Virginia Power Plant

Linda Harris for the (West Virginia) State Journal: Public interest groups across the state contend the utility’s RFP is anything but transparent. Groups like WV Sun and Energy Efficient WV suggest the RFP document was crafted to fit the needs of Mon Power’s parent company, FirstEnergy. FirstEnergy wants to move its 1,300-megawatt Pleasants Power Station, […]

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