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’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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FirstEnergy Pushes Ahead With Plan for Ratepayers to Subsidize West Virginia Coal Plant

Andrew Brown for the Charleston (W.V.) Gazette: Shareholders for FirstEnergy saw the company lose $1.1 billion over a three-month period earlier this year, and executives with the coal-laden electric utility have announced that many of their power plants can’t keep up in competitive energy markets. So as the Akron-based company looks to stop the bleeding, […]

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U.S. Utilities Stay the Course on Coal-Plant Closings

Darren Sweeney and Garrett Devine for SNL Beta: Electric utilities throughout the country, by and large, told S&P Global Market Intelligence that they are holding firm to previously announced plans to shutter thousands of megawatts of coal-fired capacity in coming years for economic and environmental reasons. According to an analysis of SNL Energy data, 46 […]

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How ‘Community Aggregation’ Bargaining Power in Ohio Works to Protect Against Abuses by Big Utilities Like FirstEnergy

Kathiann M. Kowalski for Midwest Energy News: A new deal for roughly half a million ratepayers in Northeast Ohio will provide more clean energy in the wake of FirstEnergy’s decision to back out of a community aggregation agreement. Starting in January, the new arrangement between the Northeast Ohio Public Energy Council and NextEra Ohio Services […]

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FirstEnergy Seeks Increases So It Can Save Its Credit Rating

Kathiann M. Kowalski for Midwest Energy News: In addition to recent moves to seek re-regulation to limit competition in Ohio’s electricity markets and to back out of a major contract for half a million customers, FirstEnergy told state regulators this week that more than $200 million in annual charges wasn’t nearly enough to prop up […]

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IEEFA Update: FirstEnergy, on Thin Ice, Walks Away From a Half Million Ohio Households in Hopes of Saving Itself

IEEFA Update: FirstEnergy, on Thin Ice, Walks Away From a Half Million Ohio Households in Hopes of Saving Itself

A Break with the Northeast Ohio Public Energy Council Is the Latest Sign, Among Many, That a Poorly Run Utility Is on the Ropes

FirstEnergy’s financial tailspin took a spectacular turn late last month when the company abruptly cancelled the three remaining years of a nine-year contract to supply electricity to the Northeast Ohio Public Energy Council (NOPEC), a group that provides power to 500,000 customers. What’s happening here in Ohio, in brief, is that FirstEnergy’s bad business decisions […]

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NextEra Steps Into the FirstEnergy Void in Ohio, and at a Discount to Ratepayers

John Funk for the Cleveland Plain Dealer: The Northeast Ohio Public Energy Council, or NOPEC, has approved a three-year contract with NextEra Energy Services Ohio, a subsidiary of Florida-based NextEra Energy Resources, to supply power to some 500,000 Northeast Ohio consumers and small businesses. NOPEC made this decision10 days after current supplier FirstEnergy Solutions canceled […]

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FirstEnergy Declares Emission-Control Trends a Force Majeure as It Works to Drop Coal Shipping and Supply Commitments

Taylor Kuykendall for SNL Beta: FirstEnergy Corp. disclosed in a Nov. 4 securities filing that it is fighting a legal battle to declare mercury emissions limits imposed by the U.S. EPA a force majeure event justifying termination of coal transportation and supply contracts. FirstEnergy reported the first dispute arises from a contract for the transportation […]

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