The recently introduced nuke bailout bill, Senate Bill 128, would cost FirstEnergy ratepayers $300 million a year for up to 16 years to subsidize two Ohio nuclear plants.
It gets worse: the legislation appears to require Ohioans to subsidize out-of-state nuclear generation. FirstEnergy generates nuclear power in Pennsylvania.
Its companion bill is House Bill 178. Read an analysis of the bills, and a memo on a bogus cost cap in them.
FirstEnergy CEO Chuck Jones testified on the House bill this week. Under questioning, he insisted that these above market charges were neither a bailout nor subsidies. Legislators seemed skeptical of that statement. 4/20/2017