Down but Not Out? FirstEnergy Still Seeking $300 Million Per Year in Nuclear Support
SUGAR LAND--May 30, 2017--Written by John Egan for Industrial Info Resources (Sugar Land, Texas)--Prospects have dimmed for Ohio state legislation, which is supported by FirstEnergy Corporation (NYSE:FE) (Akron, Ohio), that would increase electric prices by up to $300 million annually for a period of 16 years to compensate owners of nuclear power plants for their non-emitting characteristics. The potential cost of the measures, as drafted--up to about $5.25 billion over 16 years--has drawn sharp criticism from consumer groups, environmental organizations and competing energy companies.
Within this article: Details and assumed results of the proposed measures of the Ohio state legislation on the power plant market.
Other companies involved: NRG Energy Incorporated (NYSE:NRG) and American Electric Power (NYSE:AEP).
