The FirstEnergy affiliate companies that own and operate power generation, that is, FirstEnergy Solutions (FES), as well as its subsidiaries and FirstEnergy Nuclear Operating Company (FENOC), filed for Chapter 11 bankruptcy protection over the holiday weekend.
Days earlier the company had publicly announced its intent to shutter unprofitable power plants, most notably its nuclear power plants, two of which are in Ohio.
Officials of the regional grid operator PJM Interconnection, as well as the PUCO, said that in spite of the announced power plant shutdowns, this is not an issue of reliability and that there is no immediate emergency because the market is working to provide more than adequate reserves and to promote fuel diversity.
In its announcements, FES, like its parent company previously, said it will continue to seek legislative and regulatory relief at the state and federal level. In that vein, FirstEnergy supporters have reportedly been meeting with top federal government officials to push for an emergency order to compensate certain FES-owned power plants at customer expense. PJM refuted the justification advanced by FES in this letter to Department of Energy Secretary Rick Perry.
In the last 45 days, two congressional joint letters signed by 23 members of Congress and three U.S. Senators have urged the president to subsidize the FES power plants. Most of Ohio’s Congressional delegation are among the signatories.
Concerned members can contact their member of Congress and ask them to reconsider their support for bailouts. 4/5/2018