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

West Virginia Weighs FirstEnergy’s Bid to Pass Risk to Ratepayers

Charleston Gazette: The state Public Service Commission began to hear testimony Tuesday in a hotly contested and controversial case over FirstEnergy’s effort to transfer one of its coal-fired power plants to a West Virginia subsidiary, a move that consumer advocates and environmental groups say is aimed at unloading an uncompetitive generation station onto ratepayers in […]

September 27, 2017 Read More →
IEEFA Update: FirstEnergy, Out of Step With the Times, Sells Gas and Hydro Assets to Shore Up Fading Coal-Fired Plants

IEEFA Update: FirstEnergy, Out of Step With the Times, Sells Gas and Hydro Assets to Shore Up Fading Coal-Fired Plants

As American Electricity Markets Modernize, an Ohio Utility Company Stays the Same

If there’s a standout feature in today’s fast-changing electricity-generation landscape, it’s that coal-fired and nuclear power plants cannot compete with those that run on natural gas or renewable energy. This will remain the case for the foreseeable future, as gas prices are projected to stay low and renewable energy prices continue to drop. Part of […]

September 21, 2017 Read More →

Testimony: FirstEnergy Takeover of West Virginia Plant Would Cost Customers $470 Million

Gazette Mail (Charleston): A proposed deal for FirstEnergy subsidiaries to acquire a coal-fired power plant would likely cost customers $470 million over the next 15 years, according to testimony from an energy and environmental consultant filed with the state Public Service Commission Friday. David Schlissel, president of Schlissel Technical Consulting, submitted his prepared testimony on […]

September 5, 2017 Read More →

FirstEnergy, Failing on Its Own, Seeks a Multimillion Hand Up Now From Customers

Parkersburg (W.V.) News & Sentinel: The first of three hearings in front of the West Virginia Public Service Commission is scheduled for this Wednesday at 6 p.m. in Parkersburg City Council Chambers. The power company is hoping you stay home. FirstEnergy is seeking approval for its MonPower and Potomac Edison subsidiaries to buy the Pleasants […]

September 5, 2017 Read More →
IEEFA West Virginia: If Power Plant Is So Valuable, Why Is FirstEnergy Seeking to Transfer All the Risk to Ratepayers?

IEEFA West Virginia: If Power Plant Is So Valuable, Why Is FirstEnergy Seeking to Transfer All the Risk to Ratepayers?

An Eagerness to Sell Masks a Strategy to Leave Customers Holding the Bag

If its Pleasants Power Station is as valuable as FirstEnergy Corp. has told the West Virginia Public Service Commission that it is, why is the company so determined to push the ownership risks of it onto ratepayers? That question was at the heart of much of the testimony presented to the commission this past Friday […]

August 28, 2017 Read More →

FirstEnergy Falters in Ohio Campaign for Bailout of Its Failing Power Plants

Cleveland Plain Dealer: Neither the Trump administration nor Gov. John Kasich is inclined to give FirstEnergy’s struggling power plant company a free pass around competition, even as the number of competitors is increasing and the subsidiary faces bankruptcy. FirstEnergy Solutions, the unregulated power plant subsidiary that does business in wholesale and retail markets, is negotiating […]

August 23, 2017 Read More →

Plea for 2-Year Moratorium on U.S. Coal Plant Closings Lands With a Thud

Associated Press: The Trump administration has rejected a coal industry push to win a rarely used emergency order protecting coal-fired power plants, a decision contrary to what one coal executive said the president personally promised him. The Energy Department says it considered issuing the order sought by companies seeking relief for plants it says are […]

August 22, 2017 Read More →

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 →