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Toledo, Ohio & Lake Erie

The Press Newspaper

The Press Newspaper


     Letters have been mailed to about 900,000 retail customers of FirstEnergy Solutions, notifying them of the pending sale of their accounts to Exelon Corp.

        If the sale is approved, the accounts will switch to Exelon in the coming months under the same terms and without interruption of service, the notices say.

        In July, Exelon filed notice with the Securities and Exchange Commission that it had entered into an agreement with FirstEnergy Solutions to purchase the company’s retail electric and wholesale load serving contracts and other related commodity contracts for $140 million.

        FirstEnergy Corp. announced in March it was proceeding with its plan to exit the competitive generation part of the electrical industry. Subsequently, FirstEnergy Solutions and its subsidiaries voluntarily filed for bankruptcy under Chapter 11.

        The subsidiaries filing petitions are FirstEnergy Solutions Corp., FE Aircraft Leasing Corp., FirstEnergy Nuclear Generation, LLC, FirstEnergy Nuclear Operating Co., FirstEnergy Generation, LLC, FirstEnergy Generation Mansfield Unit 1 Corp. and Norton Energy Storage LLC.

        Last week, FirstEnergy Corp. announced it had entered into a “definitive settlement agreement” in the Chapter 11 proceedings in U.S. Bankruptcy Court, Northern District of Ohio in Akron.

        The agreement is subject to court approval but terms are “materially consistent” with an amended agreement in principle announced earlier, the company said in an Aug. 27 press release.

        A court hearing is scheduled for Sept. 21 for the sale. If the sale goes through, Constellation NewEnergy, an Exelon affiliate, would become the power supplier for FirstEnergy Solutions customers.

        The Ohio Consumers Counsel pushed for FES to provide a clearly written sales notice for customers, arguing a proposed notice was too technical.

        “”The technical form of the proposed sales notice to retail consumers would be confusing for lay persons (consumers) who already have more than enough challenges in understanding marketer offers for electric contracts,” the OCC said in a court filing. “The notice should be drafted in plain language, making it more possible for consumers to understand how the sale of their electric contract with FES may or may not affect their rights.”

        FirstEnergy has announced it plans to deactivate the Davis-Besse Nuclear Power Station by May 2020. The Perry Nuclear Power Plant in Perry Ohio is scheduled to be deactivated by May 2021 and units 1 and 2 of the Beaver Valley Power Station in Shippingport, Pa. are to be deactivated by May 2021 and October 2021 respectively.



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