FirstEnergy

IEEFA Research

IEEFA Report: ‘Natural Security’ Argument for Saving 2 Power Plants Is a Red Herring Meant to Distract From an Ohio Valley Electric Bailout

Keeping Kyger Creek and Clifty Creek on Life Support Would Cost Ratepayers $1.4 Billion; Market Conditions Will Continue to Undermine Viability of Aging Coal-Fired Plants; Public Resources Are Better Spent on Investing in Transition; Neither Generator Is Needed for Grid Stability

June 20, 2017  (IEEFA.org) – 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 plants […]

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 […]

September 8, 2016 Read More →
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 […]

August 24, 2016 Read More →
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 […]

February 9, 2016 Read More →
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 […]

October 21, 2015 Read More →
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

October 6, 2014 Read More →
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)      

July 30, 2013 Read More →

More News and Commentary

Ohio Regulators Let Stand FirstEnergy’s $1 Billion Coal and Nuclear Bailout

Cleveland Plain Dealer: The Public Utilities Commission of Ohio today rejected multiple appeals of its October 2016 ruling giving FirstEnergy an extra $204 million a year for up to five years, officially for upgrades to the company’s local wires and substations, but say opponents, actually allowing the company to use the money in any way […]

August 17, 2017 Read More →

More Questions on FirstEnergy Scheme in West Virginia

State Journal (West Virginia): According to multiple sources, including West Virginians For Energy Freedom Coalition and the Institute for Energy Economic and Financial Analysis, Ohio-based FirstEnergy, owner of Potomac Edison and Mon Power, has applied to purchase a plant based upon a model purchase in 2013 that has cost consumers over $160 million. FirstEnergy has […]

June 26, 2017 Read More →

‘FirstEnergy: Avoid’

SeekingAlpha.com: Akron, Ohio-based FirstEnergy Corp. (NYSE:FE) disproves the popular contention that utilities are safe investments. Many investors see the utility sector as reliable due to the fact that utility companies possess territorial monopolies and have regulatory barriers protecting them from competitors. And at first glance, FirstEnergy would seem to be a utility that would be […]

June 23, 2017 Read More →

Grid Executive on Loss of Ohio Nuclear Plants: ‘The Light’s Aren’t Going to Go Out’

Crain’s Cleveland Business: 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 debate whether to enable […]

June 22, 2017 Read More →

Proposed Bailout of Two Power Plants in Ohio Loses Momentum

Columbus Dispatch: 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 Ohio House Public Utilities Committee […]

June 21, 2017 Read More →

IEEFA Report: ‘Natural Security’ Argument for Saving 2 Power Plants Is a Red Herring Meant to Distract From an Ohio Valley Electric Bailout

Keeping Kyger Creek and Clifty Creek on Life Support Would Cost Ratepayers $1.4 Billion; Market Conditions Will Continue to Undermine Viability of Aging Coal-Fired Plants; Public Resources Are Better Spent on Investing in Transition; Neither Generator Is Needed for Grid Stability

June 20, 2017  (IEEFA.org) – 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 plants […]

A Fresh Push by Ohio Utilities Seeking Bailouts for Old Power Plants

Cleveland Plain Dealer: A power struggle has erupted in the Statehouse pitting Ohio’s traditional electric utilities against new independent power producers, as well as consumer, environmental and business groups wary of rate increases. The outcome will have an impact not only on what consumers will pay for power in the future, but also on the […]

June 19, 2017 Read More →

U.S. Nuclear Industry Is in Trouble

Bloomberg News: More than half of America’s nuclear reactors are bleeding cash, racking up losses totaling about $2.9 billion a year, based on a Bloomberg New Energy Finance analysis. Nuclear power plants are getting paid $20 to $30 a megawatt-hour for their electricity, Nicholas Steckler, an analyst at Bloomberg New Energy Finance, said in a […]

June 15, 2017 Read More →

On the Blogs: FirstEnergy (NYSE: FE) Is a Dog

Forbes.com: Sometimes it’s best to sell in May and just stay away. Especially when a firm’s dividend stream is being eaten alive by Amazon & Co. The Wall Street Journal’s Mark Hulbert studied the “summer rally myth” last year – and concluded it is indeed a good time to sell: “Over the past 60 years, […]

May 30, 2017 Read More →

Skepticism Over FirstEnergy’s West Virginia Machinations

Exponent-Telegram (Clarksburg, W.V): Back in 2013, when FirstEnergy wanted to have subsidiary Allegheny Energy sell the Harrison Power Station to another subsidiary, Mon Power, we questioned the effect it would have on consumers. That thought is once again on our minds as the Federal Energy Regulatory Commission (FERC) and the state Public Service Commission (PSC) […]

May 18, 2017 Read More →