An Ohio utility and state regulators are still at odds, sources say, over a controversial rate case critics have labeled a “bailout” for a utility trying to guarantee sales for several nuclear and coal plants.
Over the past few weeks, Exelon has secured promises for an additional $1.6 billion or more in revenue from capacity auctions, calling into question the need for the Illinois legislature to step in to keep some power plants running.
FirstEnergy’s plan to make all of its Ohio utility customers essentially guarantee sales for certain coal and nuclear plants owned by its unregulated generation subsidiary is an even worse deal for consumers now than when FirstEnergy filed that proposal a year ago, say environmental advocates.
Former Exelon CEO thinks wind, solar and natural gas are the future of the grid, but says his former company's nuclear plants need to be supported and kept online.
In Ohio, critics say FirstEnergy needs to disclose details of its proposal to guarantee sales for three less profitable coal plants plus the Davis-Besse nuclear plant. And they see new rate proposals added by FirstEnergy as “special deals” meant to lessen opposition to the “bailout.”
An Exelon Corp. executive told Illinois legislators Wednesday that the fate of three unprofitable nuclear plants in the state will be decided later this summer.
As FirstEnergy awaits a decision on its proposed electric security plan after a similar proposal was rejected by regulators last month, broader themes about Ohio’s energy future are emerging in the debate.
Illinois legislators within days are expected to propose a low-carbon energy standard aimed at helping prop up Exelon Corp.'s fleet of six nuclear plants.
Illinois legislators will file a widely anticipated bill within the next month aimed at giving a financial lift to Exelon Corp.'s fleet of six nuclear reactors in the state.
Papers filed last week in one of Ohio’s utility “bailout” cases suggest how companies could benefit in upcoming capacity auctions for the PJM grid area.