Entering text into the input field will update the search result below

Financial rescue for Ohio's nuclear plants approved by state legislature

Jul. 23, 2019 12:58 PM ETFirstEnergy Corp. (FE) StockFEBy: Carl Surran, SA News Editor
  • Ohio's state House passes a bill approving a $1B financial rescue of the state's two nuclear power reactors that also will scale back requirements that utilities generate more power from wind and solar.
  • The Davis-Besse and Perry reactors are owned by FirstEnergy Solutions, which has said it would shut the money-losing plants in 2020 and 2021 unless the state provides financial assistance; FirstEnergy Solutions is a bankrupt unit of power company FirstEnergy (FE -0.6%).
  • While other states such as Illinois, New York and New Jersey also have acted to compensate nuclear plants to keep them operating for their zero-carbon value, none have enacted programs as far-reaching as the Ohio plan.
  • The bill, which passed the state Senate last week, now goes to Gov. DeWine, who has expressed support for the legislation.
  • Opponents led by the natural gas industry say they plan to ask voters to overturn the legislation in a statewide referendum next year.

Recommended For You

More Trending News

About FE Stock

SymbolLast Price% Chg
Market Cap
PE
Yield (TTM)
Rev Growth (YoY)
Prev. Close
Compare to Peers

Related Stocks

SymbolLast Price% Chg
FE--
FirstEnergy Corp.