The Press Newspaper

Toledo, Ohio & Lake Erie

The Press Newspaper

The Press Newspaper


The Sandusky County commissioners have voiced their support for the continued operation of  the DavisBesse Nuclear Power Station, approving a resolution Tuesday that, in turn, backs a similar resolution passed last month by the Ottawa County Improvement Corp.

 Both resolutions note that FirstEnergy Corp. has announced its intention to exit the energy generation component of its business either by closing or selling its coal and nuclear plants in Ohio and Pennsylvania if the states don’t establish a format for re-regulating them and setting rates.

 During an earnings call last November, Charles Jones, FirstEnergy president and chief executive officer, said FirstEnergy Solutions and Allegheny Energy Supply, the company’s subsidiaries that own the power plants, are unable to operate profitably at current energy prices.

 Filing for bankruptcy by the subsidiaries is also an option.

 The emergence of power plants fueled by natural gas and wind farms have helped keep prices down on regional wholesale markets.

 “The company announced it is in the process of identifying how we can thoughtfully yet expeditiously move away from competitive markets over the next 12 to 18 months in Ohio, Pennsylvania, West Virginia and Virginia.  Competitive market conditions continue to deteriorate, with weak power prices, insufficient results from recent capacity auctions and anemic demand forecasts,” said Jennifer Young, a FirstEnergy spokesperson. “The strategic review of FirstEnergy’s competitive generation plants continues, and no decisions have been made for Davis-Besse at this time.”

 The commissioners’ resolution says, “The Board of Sandusky County Commissioners support the efforts of the Ottawa County Improvement Corporation in its efforts to work together with the community and the company to determine appropriate measures to support the continued operation of the DavisBesse Nuclear Power Station and employment of the more than 700 individuals and contractors at the facility.”

 Last week, FirstEnergy Corp. reported 2016 revenues of $14.6 billion with losses of $6.2 billion. It attributed some of the loss to costs associated with deactivating some units at the Bay Shore coal plant in Oregon and at the W.H. Sammis plant in Stratton, Ohio.  




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