FirstEnergy

IEEFA Research

IEEFA update: Big risk to taxpayers in FirstEnergy settlement on coal plants

IEEFA update: Big risk to taxpayers in FirstEnergy settlement on coal plants

Who will pay for cleanup and reclamation at sites in Ohio, Pennsylvania and West Virginia?

The overriding risk that remains from a federal court settlement this week around the FirstEnergy Solutions bankruptcy in Ohio is that taxpayers in three states will be left holding the bag on cleaning up after the company. This is no small-ticket item. It’s impossible to say what it will cost to decommission and do the […]

September 28, 2018 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 […]

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

DOE comments show little support for FirstEnergy bailout request

S&P Global Market Intelligence ($): Most stakeholders weighing in on FirstEnergy Solutions Corp.’s plea in March for federal intervention to support its financially struggling coal-fired and nuclear power plants in the PJM Interconnection were opposed to the request, according to documents obtained from the U.S. Department of Energy. Out of 152 responses on the request […]

October 26, 2018 Read More →

PJM: FirstEnergy coal plant closures no threat to reliability

Platts: Retirement of FirstEnergy Solutions’ 4,004 MW of coal and diesel generating units in Ohio and Pennsylvania by June 2021 and June 2022 will not adversely impact reliability, PJM Interconnection said Monday in revealing the results of a new study. PJM completed its 30-day reliability analysis of the units Friday, according to an emailed statement. […]

October 2, 2018 Read More →
IEEFA update: Big risk to taxpayers in FirstEnergy settlement on coal plants

IEEFA update: Big risk to taxpayers in FirstEnergy settlement on coal plants

Who will pay for cleanup and reclamation at sites in Ohio, Pennsylvania and West Virginia?

The overriding risk that remains from a federal court settlement this week around the FirstEnergy Solutions bankruptcy in Ohio is that taxpayers in three states will be left holding the bag on cleaning up after the company. This is no small-ticket item. It’s impossible to say what it will cost to decommission and do the […]

September 28, 2018 Read More →

FirstEnergy tries again to push Pleasants coal plant off its books

Energy News Network: FirstEnergy wants to transfer a West Virginia coal plant into its bankrupt subsidiary’s portfolio, but the justification for the move is in doubt as the company seeks other coal plant closures. On August 26, FirstEnergy Solutions’ Chief Restructuring Officer Charles Moore told the bankruptcy court in Ohio that “another coal-fired power station […]

September 7, 2018 Read More →

FirstEnergy asks bankruptcy court for approval to shed liabilities for environmental clean-ups

Plain Dealer: CLEVELAND, Ohio — FirstEnergy’s share price hit a 52-week high Thursday morning as news of its proposed “definitive settlement” with its bankrupt subsidiary FirstEnergy Solutions spread among investors. The settlement, filed this week in federal bankruptcy court, is FirstEnergy’s latest effort to shed itself of past and future financial responsibilities connected with FES […]

August 31, 2018 Read More →

FirstEnergy submits plans to close Mansfield, Sammis coal plants

S&P Global Market Intelligence ($): FirstEnergy Solutions Corp. will shut down the largest coal-fired plant in its fleet as part of more than 4,000 MW of coal and oil capacity it plans to deactivate in Ohio and Pennsylvania in 2021 and 2022. FirstEnergy Solutions, or FES, in an Aug. 29 news release said it has […]

August 30, 2018 Read More →

Lawsuit Argues FirstEnergy Is Shorting Nuclear Cleanup Fund

The Plain Dealer: FirstEnergy’s power plant subsidiaries have not put enough money into federally mandated decommissioning trust funds to pay for the shutdown and cleanup of each of its four nuclear reactors, charges an environmental group with a reputation as a legally effective environmental advocate. The Chicago-based Environmental Law and Policy Center, or ELPC, made […]

May 23, 2018 Read More →

Conservatives Pan Coal, Nuclear Bailout Plan

Washington Examiner: Energy Secretary Rick Perry’s statement that the Trump administration is looking “very closely” at using at using a Cold War-era law to save coal and nuclear plants sparked skepticism from energy experts and industry officials, who questioned how legislation designed to protect national security could apply. The Defense Production Act of 1950 was […]

May 10, 2018 Read More →

FirstEnergy Nuclear Closures No Threat to Grid, PJM Says

Cleveland Plain-Dealer: PJM Interconnection today said it has determined that FirstEnergy’s power plant subsidiary can shut down its three nuclear power plants within three years without destabilizing the 13-state power grid that PJM manages. At the same time, PJM announced its intention to look at “fuel security” in the face of the utility industry’s growing […]

May 1, 2018 Read More →

FirstEnergy Bailout Plea Faces Opposition From Within Trump Administration

Bloomberg: A bankrupt power generator’s plea for President Donald Trump to help save money-losing power plants has drawn opposition from key administration officials, slowing action on the proposal, according to two people familiar with the deliberations. FirstEnergy Solutions Corp. asked the Trump administration last month to immediately declare a grid emergency and guarantee profits for […]

April 23, 2018 Read More →