FirstEnergy Bailout Plan Introduced

FirstEnergy’s plan to get Ohio ratepayers to subsidize its nuclear fleet was finally introduced this week.  The proposed legislation would require Ohio ratepayers to pay an additional $17 per MWH for FirstEnergy’s nuke plants – including plants outside of Ohio!  These subsidies would continue for 16 years.

The legislation further states that this increase would be capped at 5% of a customer’s bill.  However, anything over 5% would be booked as a regulatory deferral and collected later with interest!
A summary and analysis can be found here.

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