nuclear-news

The high costs of bailing out FirstEnergy Solutions’ two Ohio nuclear plants

Costs of FirstEnergy nuclear bailout bill could exceed out-of-pocket subsidies, An analysis by grid operator PJM considers losses if Ohio nuclear subsidies deter new generation. Energy News Network, Kathiann M. Kowalski  6 June 19, 

A bill to subsidize FirstEnergy Solutions’ two Ohio nuclear plants could cost customers even more than the hundreds of millions of dollars in direct charges proposed to prop up those plus two older coal plants.

A new analysis from grid operator PJM concludes that keeping FirstEnergy’s nuclear plants open could also cost ratepayers as much as $16 million a year in lost savings by discouraging cheaper gas generation from coming online.

Asim Haque, PJM’s executive director for strategic policy and external affairs,testified about the new analysis before the Ohio Senate Energy and Public Utilities Committee on Wednesday.

“PJM’s findings for consumer savings from power plant competition confirm that a competitive generation market is better for millions of Ohio consumers than charging them for bailouts and subsidies under House Bill 6,” said J.P. Blackwood, a spokesperson for the Office of the Ohio Consumers’ Counsel………https://energynews.us/2019/06/06/us/costs-of-firstenergy-nuclear-bailout-bill-could-exceed-out-of-pocket-subsidies/

June 8, 2019 - Posted by Christina Macpherson | politics, USA