Perry Nuclear Power Generation Station

Perry nuclear power plant seen from the south

Lawmakers are considering subsidies that could save the state’s two nuclear power plants which are set to be shut down in two years. Opponents say proposed rate increases to cover those subsidies amount to an unnecessary bailout. Workers say it will save their jobs and their town.

Davis Besse

Akron-based FirstEnergy Solutions has filed for bankruptcy, just days after announcing it would close nuclear power plants in Ohio and Pennsylvania. WKSU’s Kabir Bhatia reports on legislation that could impact at least the plants in Ohio.

Perry Nuclear Plant east of Cleveland
Tim Rudell / WKSU

FirstEnergy wants out of the competitive power generation business. That’s been known since CEO Chuck Jones said so last fall. But, as the Akron-based utility tries to sell its power plants, or get the nuclear ones re-regulated, it’s also trying to lower the taxes it has to pay on them. 

Declaring what’s called an “impairment”’ is one way to do that.  It’s like asking the city to lower your property tax if the value of your house drops.  In FirstEnergy’s case they’re saying the drop is $9-Billion.