Utility FirstEnergy has asked for what is effectively a government bailout for several nuclear and coal-fired plants, after it said it would have to shutter three nuclear power facilities over the next three years. The company called on Energy Secretary Rick Perry to use emergency powers to force regional power grid operator PJM Interconnection to compensate FirstEnergy’s local power plant operating unit for the benefits its business provides the region through the negotiation of a new contract. Among these benefits FirstEnergy listed reliability of power supply and the employment they provide. A day before its appeal to the Energy Department, FirstEnergy issued a press release stating it would close three NPPs in Pennsylvania and Ohio with a combined capacity of over 4 GW. Don Moul, head of FirstEnergy Solutions, which operates the plants, said “Though the plants have taken aggressive measures to cut costs, the market challenges facing these […]

Posted in: USA