Ohio House sidelines bailout of 2 FirstEnergy nuclear plants

by Associated Press on May 19, 2017 at 1:58 pm

COLUMBUS, Ohio (AP) — Opponents are praising a decision to suspend deliberations on a proposed bailout of Ohio’s two nuclear plants, even as Akron-based FirstEnergy continues to push for the deal.

House Public Utilities Chairman Bill Seitz (syts) discontinued testimony on legislation containing the proposal Wednesday after vocal protests by consumer, business and energy groups.

The plan calls for a special fee charged to customers. The company argues it is necessary to secure the future of its aging Davis-Besse and Perry plants, which produce 14 percent of Ohio’s electricity.

How much the plan would generate for the nuclear plants isn’t clear because subsidies are based on a complex formula involving plant emissions.

Recently approved subsidy deals in New York and Illinois aimed at stopping unprofitable nuclear plants from closing prematurely cost multiple billions.