Senate Bill 128 and companion House Bill 178 create a new above-market charge on all customers in the FirstEnergy service territories that would be used to subsidize the two nuclear power plants operated by FirstEnergy’s subsidiary, FirstEnergy Solutions.
Manufacturers in FirstEnergy territory that use about 1,000,000 kWh/year and spend about $100K per year now for electricity would see an annual incremental cost of $5,700. Over the 16 year term, they would pay an additional $91,000.
Large manufacturers that use 100,000,000 kWh and spend approximately $6 million per year now for electricity would see an annual jump of $567,000. They would pay over $9 million more over the 16 year life of the proposed term.
To calculate your potential exposure to the legislation, multiply your annual kWh usage by $0.00567. 4/13/2017