Ohio-PUCO

IEEFA Research

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 […]

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

Read More →

More News and Commentary

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 […]

Read More →

Even With Its Vast Plentitude of Ratepayer Subsidies, FirstEnergy Is Failing

Dan Shingler for Crian’s Cleveland Business: Chuck Jones needs to find about $200 million. That’s roughly the amount that Jones, CEO of Akron-based FirstEnergy Corp., says he needs to find in cost savings to preserve his company’s credit rating — and ultimately to stay independent. It will mean cuts to FirstEnergy’s expenses. That includes payroll, […]

Read More →

More Fallout Around FirstEnergy Bailout in Ohio

Kathiann M. Kowalksi for Midwest Energy News: The PUCO’s 190-page order and opinions last week rejected FirstEnergy’s modified request, but nonetheless imposed on customers a charge of $132.5 million per year, plus whatever corporate taxes would have to be paid, for a total of about $204 million per year. It seems likely one or more […]

Read More →
IEEFA Ohio: FirstEnergy’s Bailout Plan Is Paying Off (for FirstEnergy)

IEEFA Ohio: FirstEnergy’s Bailout Plan Is Paying Off (for FirstEnergy)

Ohio Regulator Nod on $600 Million to $1 Billion in Ratepayer Subsidies Presages a Similar Campaign in West Virginia

The Public Utility Commission of Ohio this week gave FirstEnergy a much smaller bailout than the company wanted. But it’s still a bailout. We expect opponents—including consumer and environmental organizations, industrial electricity customers and other power producers in Ohio—to appeal the PUCO decision to the Ohio Supreme Court. These groups will probably ask the Federal […]

Read More →

‘First Energy Gets a Bailout, But Not the One It Was Hoping For’

Dan Shingler for Crain’s Cleveland Business: Sometimes, “no” is better than “nothing,” and that’s likely the case with the Public Utilities Commission of Ohio’s Oct. 12 ruling on Akron-based FirstEnergy Corp.’s request for subsidies of its old coal-fired plants in Ohio. The PUCO rejected FirstEnergy’s request for a “retail rate stability rider” that would have […]

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 […]

Read More →

FirstEnergy Doubles Its Ohio Bailout Ask, to $8 Billion

Kathiann M. Kowalski for Midwest Energy News: Despite announcing the closure of four units at an Ohio coal plant it initially sought to protect, the amount of money FirstEnergy could recover from customers in new charges has now ballooned to more than $8 billion, according to a recent filing. FirstEnergy still wants a non-bypassable charge […]

Read More →

Regional Auction Raises Questions About FirstEnergy’s Intentions for Coal-Fired Power Plants

John Funk for the Cleveland Plain Dealer: FirstEnergy would not discuss the fate of its power plants Tuesday night in the annual 13-state auction that grid manager PJM held to identify the most economic power plants that will still be operating in 2019. A flock of new gas-fired power plants jumped into the PJM competition […]

Read More →

Rate Plan a Subsidy for Coal, Nuclear Plants?

Larry Limpf for the Toledo Ohio Press: One component of the FirstEnergy rate plan recently approved by the Public Utilities Commission of Ohio is front and center in complaints now on file before a federal regulator. The PUCO said it found the “record of evidence demonstrates a projected net credit to consumers of $256 million” […]

Read More →

Wollongong Coal: Stranded Asset

Emily Laurence for ABC News Australia: An analyst says a coal company’s plan to mine further into the Sydney drinking water catchment appears to be “totally stranded” by the findings of an independent body. But Wollongong Coal has played down the Planning Assessment Commission’s (PAC) most recent report, saying it has options and “the ball […]

Read More →