The Trump administration evidently plans to order customers to subsidize unprofitable nuclear and coal power plants owned by FirstEnergy Solutions (FES). The controversial and unprecedented move by the president appears to have been in part the result of a lobbying blitz.
John Funk of the Cleveland Plain Dealer reported that “Akin Gump’s top law partners charged (FES) as much as $1,475 an hour.”
Bottom line: FirstEnergy and FES want someone, anyone – preferably customers or taxpayers – to pay billions to make up for the company’s bad business decisions. 6/14/2018