Bankrupt FirstEnergy Solutions (FES) continues to angle for the General Assembly to enact legislation to bailout its uneconomic power plants. In releasing details of its bankruptcy restructuring, the company also announced it had terminated a contract to sell its retail business to Exelon.
John Funk of the Cleveland Plain Dealer wrote that a state bailout might be more feasible this year due to the election of Speaker Larry Householder, who has announced plans to create a new panel of lawmakers to focus on electric generation.
The OMA has been a leading opponent of bailouts for power plants that are not needed. The OMA Energy Committee will meet next on March 12 to review this and all energy matters that are relevant to Ohio manufacturers. 1/24/2019