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

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 →

Power Producer Group Opposes FirstEnergy Bailout

Washington Examiner: Power plant owners are urging President Trump to reject a plea by an Ohio power provider to save its fleet of coal and nuclear plants that are slated to shut down in the next three years, saying it would be legally wrong and jeopardize his America First agenda. The Electric Power Supply Association, […]

April 16, 2018 Read More →

Coal CEO Who Wants to Buy First Energy’s Dying Plants Wants Subsidies Too

WKSU (Kent State): The head of one of the nation’s biggest coal companies says he can keep First Energy Solutions’ coal-fired power plants from shutting down. Murray Energy CEO Robert Murray tells Bloomberg news that if government subsidies are granted he can get financing to buy the coal plants targeted for closing.  And with his […]

April 12, 2018 Read More →

Murkowski: No Senate Action Now on FirstEnergy Bankruptcy

S&P Global Market Intelligence ($): U.S. Senate Energy and Natural Resources Committee Chairman Lisa Murkowski said she is alarmed about the premature closure of U.S. nuclear plants but that her committee is unlikely to weigh in on merchant generator FirstEnergy Solutions Corp.’s request for the U.S. Department of Energy to help keep several of its at-risk […]

April 11, 2018 Read More →

FirstEnergy Is Losing Friends as It Campaigns for a Federal Bailout

Wall Street Journal: FirstEnergy Corp. is waging a lonely fight as it seeks to persuade the Trump administration to bail out its struggling coal and nuclear-power plants through an unprecedented emergency action that experts say would effectively end America’s largest competitive electricity market. The Ohio-based utility doubled down on coal and nuclear power in 2010 […]

April 10, 2018 Read More →

Bankruptcy of FirstEnergy’s Power-Generation Fleet Will Test Trump’s Promises to Coal Industry

Wall Street Journal: The Trump administration’s commitment to coal is under its stiffest test yet after an Ohio energy company made a plea to favor that power source over its many rivals, including oil and natural gas, in a clash that could end with higher costs for consumers. FirstEnergy Corp.’s fleet of coal- and nuclear-power […]

April 2, 2018 Read More →

Grid Operator to U.S. Energy Department: ‘There Is No Emergency’

Cleveland Plain Dealer: Power grid manager PJM Interconnection on Friday urged the U.S. Department of Energy not to take extraordinary action ordering subsidies to keep uncompetitive coal and nuclear power plants operating. FirstEnergy’s power plant subsidiary, FirstEnergy Solutions (FES), asked the DOE for the action on Thursday morning, about 18 hours after informing PJM and […]

April 2, 2018 Read More →