December 01, 2017
December 1, 2017
FOR IMMEDIATE RELEASE
Groups Challenge FirstEnergy Bailout at Ohio Supreme Court
Joint statement from EDF, OEC and ELPC
COLUMBUS – The Ohio Environmental Council, Environmental Defense Fund, and Environmental Law & Policy Center today appealed to the Ohio Supreme Court the Public Utilities Commission of Ohio’s (PUCO) bailout for utility giant FirstEnergy. Last year, the PUCO approved a plan to provide FirstEnergy with more than $600 million over a three-year period in no-strings-attached subsidies for its uneconomic coal and nuclear plants.
Since the PUCO’s ruling Ohioans have already paid over $120 million of the $600 million bailout to FirstEnergy. While FirstEnergy will keep the money they’ve already collected even if the Supreme Court overturns the PUCO’s ruling, we are filing our appeal to the Supreme Court to protect Ohio ratepayers from further unjustified bailout payments.
“Last year, when Ohio regulators tried to hand FirstEnergy $4 billion to keep its outdated, uneconomic power plants operating, federal regulators came to the rescue and blocked the deal. But the utility giant is relentless and devised a new bailout plea that didn’t require federal oversight, which state regulators quickly rubber-stamped. We are confident the Ohio Supreme Court will recognize Ohioans should not be responsible for FirstEnergy’s bad business decisions, and overturn the $600 million bailout.”
“With an abundance of renewable energy opportunity in the Buckeye State, it doesn’t make sense that our state regulators agreed to raise Ohioans’ electric bills to subsidize plants that are old and expensive. These consumer-funded subsidies distort trends in the market that would otherwise be pushing electric utilities to innovate, creating cleaner, more efficient generation options. I’m confident that the Ohio Supreme Court will side with the customers, ensuring a cleaner, prosperous future for all.”
“We are challenging this bailout because it raises electric bills for Ohio families to pay off FirstEnergy’s shareholders, and provides no benefits to customers. Instead of bailing out failing coal plants, we should help lower customer bills and pollution through energy efficiency.”
Environmental Defense Fund (edf.org), a leading international nonprofit organization, creates transformational solutions to the most serious environmental problems. EDF links science, economics, law, and innovative private-sector partnerships. Connect with us on Twitter, Facebook, and our Energy Exchange blog.
Ohio Environmental Council (theoec.org) The Ohio Environmental Council is the state’s most comprehensive, effective and respected environmental advocate for a healthier, more sustainable Ohio. Our experts work daily to restore, protect, and strengthen the quality of life for families and communities—from the air we breathe and the water we drink to the food we eat and natural resources we enjoy.
Environmental Law & Policy Center (elpc.org) is the Midwest’s leading public interest environmental legal advocacy organization. We develop strategic campaigns to protect natural resources and improve environmental quality. Our multi-disciplinary staff employs teamwork approaches using legal, economic, and public policy tools to produce successes that improve our environment and economy.