With Ohio bailout law secured, FirstEnergy Solutions successor moves to increase share buybacks by $300 million

Andrew Tobias, Cleveland.com, May 12, 2020

COLUMBUS, Ohio -- Leaders of a former FirstEnergy subsidiary, which Ohio electricity customers will soon begin paying $150 million annually to subsidize under a nuclear bailout law Ohio officials passed last year, have moved to spend an extra $300 million on repurchasing the company’s own stock.

The stock buybacks, meant to benefit corporate shareholders, come less than a year after an aggressive multi-year lobbying effort by FirstEnergy that culminated in Gov. Mike DeWine and state lawmakers approving $1 billion in bailout money funded by surcharges on Ohioans’ electric bills. The company and elected officials who backed the bailout argued without state money, the power plants and their parent company would become insolvent.

The board of directors for the company now known as Energy Harbor on Friday voted to increase authorization for its stock buyback program from $500 million to $800 million, according to an investor presentation the company posted to its website. Energy Harbor can buy back the stock any time until Aug. 27., under the terms of a company plan, approved as the Akron company spun off from FirstEnergy as it emerged from bankruptcy proceedings earlier this year.

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How did your legislator vote on HB6?

Ohio House Bill 6 passed the Ohio House of Representatives on May 29, 2019 and the Ohio Senate on July 17, 2019. The Ohio House concurrence vote occurred on July 23, 2019.  It passed by one vote, and House Bill 6 was signed by Governor Mike DeWine a few hours later.

House vote (May 29, 2019)

Name and party: District: Vote:

 Reelection

year: 

Niraj Antani (R) 42 Yes Nov 2020, running for Senate District 6
Steve Arndt (R) 89 Yes Retired
Brian Baldridge (R) 90 Yes Nov 2020
John Becker (R) 65 Yes

Nov 2020, running for Senate District 14

Louis W. Blessing III (R) 29 Yes Not running
Kristin Boggs (D) 18 No Nov 2020
Janine Boyd (D) 9 No Nov 2020
Juanita Brent (D) 12 No Nov 2020
Tom Brinkman (R) 27 Yes Nov 2020
Richard Brown (D) 20 Yes Nov 2020
Jim Butler (R) 41 Yes Not running
Jamie Callender (R) 61 Yes Nov 2020
Rick Carfagna (R) 68 No Nov 2020
Sara Carruthers (R) 51 Yes Nov 2020
Jack Cera (D) 96 Yes Not running
Randi Clites (D) 75 No Nov 2020
Erica Crawley (D) 26 No Nov 2020
Jon Cross (R) 83 Yes Nov 2020
Jeffrey Crossman (D) 15 No Nov 2020
Bob Cupp (R) 4 Yes Nov 2020
Bill Dean (R) 74 No Nov 2020
Sedrick Denson (D) 33 No Nov 2020
Anthony DeVitis (R) 36 Yes Not running
Jay Edwards (R) 94 Yes Nov 2020
Tavia Galonski (D) 35 Yes Nov 2020
Haraz Ghanbari (R)  3 Yes Nov 2020
Tim Ginter (R) 5 No Nov 2020
Doug Green (R) 66 Yes Nov 2020, running for Senate District 14
Dave Greenspan (R) 16 No Nov 2020
Diane Grendell (R) 76 Yes Nov 2020
Steve Hambley (R)  69 Yes Not running
Paula Hicks-Hudson (D)  44 No Nov 2020
Brett Hillyer (R) 98 Yes Nov 2020
Adam Holmes (R) 97 Yes Nov 2020
Ron Hood (R) 78 No Not running
Jim Hoops (R) 81 Yes Nov 2020
Speaker Larry Householder (R) 72 Yes Nov 2020
Stephanie Howse (D) 11 No Nov 2020
Catherine Ingram (D) 32 Yes Nov 2020
Don Jones (R) 95 Yes Nov 2020
Kris Jordan (R) 67 Yes Nov 2020
Candice Keller (R) 53 No

Nov 2020,running for Senate District 4 

Brigid Kelly (D) 31 No Nov 2020
Bernadine Kennedy Kent (D) 25 Abstained Nov 2020
Darrell Kick (R) 70 Yes Nov 2020
Kyle Koehler (R) 79 No Nov 2020
Laura Lanese (R) 23 No Nov 2020
George Lang (R) 52 Yes Nov 2020 - running for Senate District 4
Jeff LaRe (R) 77 Yes Nov 2020
David Leland (D) 22 No Nov 2020
Michele Lepore-Hagan (D)  58 No Nov 2020
Mary Lightbody (D) 19 No Nov 2020
Scott Lipps (R)  62 Yes Nov 2020
Beth Liston (D)  21 No Nov 2020
Susan Manchester (R) 84 No Nov 2020
Don Manning (R) 59 Yes Nov 2020
Gayle Manning (R) 55 No Nov 2020
Riordan McClain (R) 87 No Nov 2020
Derek Merrin (R) 47 Yes Nov 2020
Adam Miller (D) 17 No Nov 2020
Joe Miller (D) 56 Yes Nov 2020
Jessica Miranda (D) 28 No Nov 2020
Mike O’Brien (D) 64 No Nov 2020
Scott Oelslager (R)  48 Yes Nov 2020
John Patterson (D) 99 Yes Not running
Tom Patton (R) 7 Yes Nov 2020
Rick Perales (R) 73 Yes Not running
Phil Plummer (R)  40 Yes Nov 2020
Jena Powell (R) 80 No Nov 2020
Bill Reineke (R) 88 Yes Nov 2020 -running for Senate District 26
Tracy Richardson (R) 86 Abstained Nov 2020
Craig Riedel (R) 82 No Nov 2020
Phil Robinson (D)  6 No Nov 2020
Bill Roemer (R) 38 Yes Nov 2020
John Rogers (D)  60 Yes Not running
Mark Romanchuck (R)  2 No Nov 2020 -running for Senate District 22
Allison Russo (D)  24 No Nov 2020
Scott Ryan (R)  71 No Nov 2020
Gary Scherer (R) 92 Yes Not running
Bill Seitz (R) 30 Yes Nov 2020
Michael Sheehy (D) 46 No Nov 2020
Mike Skindell (D)  13 No Nov 2020
Kent Smith (D)  8 No Nov 2020
Ryan Smith (R)  93 No Not running
J. Todd Smith (R) 43 Yes Nov 2020
Lisa Sobecki (D)  45 Yes Nov 2020
Dick Stein (R) 57 Yes Nov 2020
Reggie Stoltzfus (R) 50 No Nov 2020
Fred Strahorn (D) 39 No Not running
Bride Rose Sweeney (D) 14 No Nov 2020
Emilia Sykes (D) 34 No Nov 2020
Terrence Upchurch (D) 10 Yes Nov 2020
Nino Vitale (R) 85 Yes Nov 2020
Casey Weinstein (D) 37 No Nov 2020
Thomas West (D) 49 Yes Nov 2020
Scott Wiggam (R) 1 Yes Nov 2020
Shane Wilkin (R) 91 Yes Nov 2020
Paul Zeltwanger (R) 54 Yes Nov 2020

Senate vote (July 17, 2019)

Name and party: District: Vote: Reelection year:
Nickie Antonio (D)  23 No Nov 2022
Andrew Brenner (R) 19 Yes  Nov 2022
Dave Burke (R) 26 Yes  not running
Bill Coley (R) 4 No not running
Hearcel Craig (D)  15 No Nov 2022
Matt Dolan (R)  24 Yes  Nov 2020
John Eklund (R)  18 Yes Nov 2020, running for House District 76
Teresa Fedor (D)  11 Yes Nov 2022
Theresa Gavarone (R) 2 Yes Nov 2020
Bob Hackett (R) 10 Yes Nov 2020
Frank Hoagland (R) 30 Yes  Nov 2020
Jay Hottinger (R) 31 Yes  Nov 2022
Matt Huffman (R) 12 Yes Nov 2020
Stephen Huffman (R) 5 No Nov 2022
Stephanie Kunze (R) 16 No  Nov 2020
Peggy Lehner (R)  6    Yes not running
Tina Maharath (D)  3 No Nov 2022
Nathan Manning (R) 13 Absent Nov 2022
Rob McColley (R) 1 No Nov 2022
Larry Obhof (R)  22 Yes  not running
Sean O'Brien (D) 32 No  Nov 2020
Bob Peterson (R)  17 Yes  Nov 2022
Kristina Roegner (R)  27 Absent  Nov 2022
Michael Rulli (R) 33 No  Nov 2022
Tim Schaffer (R) 20 Yes  Nov 2020
Kirk Schuring (R) 29 Yes  Nov 2022
Vernon Sykes (D)  28 No  Nov 2020
Lou Terhar (R)  8 Yes not running 
Cecil Thomas (D) 9 No Nov 2022
Joe Uecker (R) 14 No not running
Sandra Williams (D) 21 Yes  Nov 2022
Steve Wilson (R) 7 Yes Nov 2022
Kenny Yuko (D)  25 Yes Nov 2022

Concurrence House vote (July 23, 2019)

Name and party: District: Vote:  Reelection year:
Niraj Antani (R) 42 Yes  Nov 2020, running for Senate District 6
Steve Arndt (R) 89 Yes  Retired
Brian Baldridge (R) 90 Yes  Nov 2020
John Becker (R) 65 Yes  Nov 2020, running for Senate District 14
Gil Blair (D) 63 No  
Louis W. Blessing III (R) 29 Yes  Not running
Kristin Boggs (D) 18 No  Nov 2020
Janine Boyd (D) 9 No  Nov 2020
Juanita Brent (D) 12 No  Nov 2020
Tom Brinkman (R) 27 Yes  Nov 2020
Richard Brown (D) 20 No  Nov 2020
Jim Butler (R) 41 Yes  Not running
Jamie Callender (R) 61 Yes  Nov 2020
Rick Carfagna (R) 68 Absent/Abstained Nov 2020
Sara Carruthers (R) 51 Yes  Nov 2020
Jack Cera (D) 96 Yes  not running
Randi Clites (D) 75 No  Nov 2020
Erica Crawley (D) 26 No  Nov 2020
Jon Cross (R) 83 Yes  Nov 2020
Jeffrey Crossman (D) 15 No  Nov 2020
Bob Cupp (R) 4 Yes  Nov 2020
Bill Dean (R) 74 Absent/Abstained Nov 2020
Sedrick Denson (D) 33 No  Nov 2020
Anthony DeVitis (R) 36 Absent/Abstained Not running
Jay Edwards (R) 94 Yes  Nov 2020
Tavia Galonski (D) 35 Yes  Nov 2020
Haraz Ghanbari (R)  3 Yes  Nov 2020
Tim Ginter (R) 5 No  Nov 2020
Doug Green (R) 66 Yes  Nov 2020, running for Senate District 14
Dave Greenspan (R) 16 No  Nov 2020
Diane Grendell (R) 76 Yes  Nov 2020
Steve Hambley (R)  69 Yes  Not running
Paula Hicks-Hudson (D)  44 Absent/Abstained Nov 2020
Brett Hillyer (R) 98 Yes  Nov 2020
Adam Holmes (R) 97 Yes  Nov 2020
Ron Hood (R) 78 No  Not running
Jim Hoops (R) 81 Yes  Nov 2020
Speaker Larry Householder (R) 72 Yes  Nov 2020
Stephanie Howse (D) 11 No  Nov 2020
Catherine Ingram (D) 32 Yes  Nov 2020
Don Jones (R) 95 Yes  Nov 2020
Kris Jordan (R) 67 Yes  Nov 2020
Candice Keller (R) 53 No  Nov 2020, running for Senate District 4
Brigid Kelly (D) 31 No  Nov 2020
Bernadine Kennedy Kent (D) 25 Absent/Abstained Nov 2020
Darrell Kick (R) 70 Yes  Nov 2020
Kyle Koehler (R) 79 No  Nov 2020
Laura Lanese (R) 23 No  Nov 2020
George Lang (R) 52 Yes  Nov 2020, running for Senate District 4
Jeff LaRe (R) 77 Yes  Nov 2020
David Leland (D) 22 No  Nov 2020
Michele Lepore-Hagan (D)  58 No  Nov 2020
Mary Lightbody (D) 19 No  Nov 2020
Scott Lipps (R)  62 Yes  Nov 2020
Beth Liston (D)  21 No  Nov 2020
Susan Manchester (R) 84 No  Nov 2020
Don Manning (R) 59 Yes  Nov 2020
Gayle Manning (R) 55 No  Nov 2020
Riordan McClain (R) 87 No  Nov 2020
Derek Merrin (R) 47 Yes  Nov 2020
Adam Miller (D) 17 Absent/Abstained Nov 2020
Joe Miller (D) 56 Absent/Abstained Nov 2020
Jessica Miranda (D) 28 Absent/Abstained Nov 2020
Mike O’Brien (D) 64 No  Nov 2020
Scott Oelslager (R)  48 Yes  Nov 2020
John Patterson (D) 99 Yes  Not running
Tom Patton (R) 7 Yes  Nov 2020
Rick Perales (R) 73 Yes  Not running
Phil Plummer (R)  40 Yes  Nov 2020
Jena Powell (R) 80 No  Nov 2020
Bill Reineke (R) 88 Yes  Nov 2020, running for Senate District 26
Tracy Richardson (R) 86 Yes  Nov 2020
Craig Riedel (R) 82 No  Nov 2020
Phil Robinson (D)  6 No  Nov 2020
Bill Roemer (R) 38 Yes  Nov 2020
John Rogers (D)  60 Yes  Not running
Mark Romanchuck (R)  2 No  Nov 2020, running for Senate District 22
Allison Russo (D)  24 Absent/Abstained Nov 2020
Scott Ryan (R)  71 No  Nov 2020
Gary Scherer (R) 92 Yes  Not running
Bill Seitz (R) 30 Yes  Nov 2020
Michael Sheehy (D) 46 Yes  Nov 2020
Mike Skindell (D)  13 No  Nov 2020
Kent Smith (D)  8 No  Nov 2020
Ryan Smith (R)  93 No  Not running
J. Todd Smith (R) 43 Yes  Nov 2020
Lisa Sobecki (D)  45 Yes  Nov 2020
Dick Stein (R) 57 Yes  Nov 2020
Reggie Stoltzfus (R) 50 No  Nov 2020
Fred Strahorn (D) 39 No  Not running
Bride Rose Sweeney (D) 14 No  Nov 2020
Emilia Sykes (D) 34 No  Nov 2020
Terrence Upchurch (D) 10 Yes  Nov 2020
Nino Vitale (R) 85 Yes  Nov 2020
Casey Weinstein (D) 37 No  Nov 2020
Thomas West (D) 49 Yes  Nov 2020
Scott Wiggam (R) 1 Yes  Nov 2020
Shane Wilkin (R) 91 Yes  Nov 2020
Paul Zeltwanger (R) 54 Yes  Nov 2020

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