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Bankruptcy for FirstEnergy means the end for its indebted nuclear power plants?

FirstEnergy Solutions bankruptcy restructuring likely, power plants would be closed or sold, Cleveland.com, 23 Mar 18  By John Funk, The Plain Dealer  The Perry nuclear power plant, a source of jobs and tax revenues for 30 years in Northeast Ohio, could be shutdown or sold in a Chapter 11 bankruptcy proceeding. The FirstEnergy Corp. subsidiary that owns the company’s power plants has an accumulated debt of more than $2.8 billion. The old plants cannot generate power as cheaply as new gas turbine plants and wind farms. FirstEnergy has not been able to persuade state lawmakers or federal authorities to create special fees to subsidize its nuclear power plants and has made it clear in recent months that it wants to become a fully regulated company again. A bankruptcy case could be filed within a week. (Plain Dealer file )

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March 23, 2018 - Posted by | business and costs, USA

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