FirstEnergy Lobbies for Re-Regulation, Saying It Can't Compete In An Open Market
One of Ohio’s largest energy companies could be closing or selling all of its power plants within the next two years.
FirstEnergy, given the current economic and regulatory climate, is reviewing what to do with its coal and nuclear plants. It says it has three options: sell the plants, close them or keep them under the condition that the state changes its regulatory framework.
FirstEnergy’s Doug Colafella says that third option would mean turning away from Ohio’s current deregulated industry. “[We want to] take some control back and be able to look at long-term planning. What’s the right mix of power generating facilities that we need in the state?”
FirstEnergy generates about 5,000 megawatts of power that could light up about 5 million Ohio homes.