Ohio Nuclear Plants Already Profitable Without Subsidies?

The two nuclear power plants set to receive state subsidies worth an estimated $165 million per year under House Bill 6 already could be quite profitable. That is according to a new report sponsored by the American Petroleum Institute and authored by Paul Sotkiewicz, the former chief economist for PJM Interconnection LLC, the largest U.S. power grid operator.

Sotkiewicz’s analysis shows that the costs of running FirstEnergy Solutions’ Davis Besse and Perry plants are nearly 25% below the industry average for single-reactor sites — and that they are averaging $28 million and $44 million a year, respectively, in net profits. The ratepayer-funded subsidies provided by the House-approved HB 6 would only add to that profit. 5/30/2019