IEEFA update: Bailing out Ohio’s nuclear and coal plants unnecessary for supply or rate stability

CLEVELAND – "A bill before the Ohio General Assembly (HB 6), aimed at rescuing FirstEnergy Solutions’ economically uncompetitive aging nuclear and coal-fired power plants is misguided, according to a briefing note released by the Cleveland-based Institute for Energy Economics and Financial Analysis (IEEFA).

The briefing note: Bailout Bill a Bonanza for FirstEnergy Solutions, may end up costing Ohio consumers and businesses more than $300 million per year 'in perpetuity,' according to IEEFA.

'Proponents of this ill-advised bill are using misleading arguments to warn about nonexistent dangers to the electricity supply and rising energy costs,' said IEEFA director of resource planning analysis and author of the briefing note David Schlissel. 'The data shows, to the contrary, that Ohio has ample energy supply and that retiring the plants in question would in no way undermine the reliability of the system or raise costs.'"

-- David Schlissel, IEEFA’s director of resource planning analysis

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