John Funk of the Cleveland Plain Dealer does yeoman’s work today in coverage of a hearing last night over FirstEnergy’s plan to put ratepayers on the hook for its flagging business model.
Funk describes a five-hour hearing at which most of the 70 people who testified before the Public Utilities Commission of Ohio expressed opposition to the proposed rate plan.
- “The crowd directed its fury at the company’s proposal to have consumers subsidize two of the company’s most environmentally controversial power plants—the coal-fired W.H. Sammis plant near Stuebenville and the Davis-Besse nuclear plant near Toledo. The subsidy would run for at least three years and as long as 15 years.”
- “The two plants are having trouble competing against new, natural-gas-fired power plants and in some cases, wind turbines.”
- “FirstEnergy executives have said without the special subsidy paid by customers, the company may not be able to keep them operating. They want customers to pay whatever it costs for the two plants to make electricity; power they say is needed to keep the regional grid stable and overall prices reasonable.”
Funk’s full column.