FirstEnergy Solutions Corp. is set to benefit from roughly $150 million in subsidies for nuclear plants under a bill that passed the Ohio House May 29.
House Bill 6 imposes a 50-cent fee per month in 2020 and a $1 fee per month from 2021 through 2026 on all residential electricity ratepayers and passes on the cash through “zero carbon” credits for FirstEnergy’s Ohio’s two nuclear plants and five solar installations. Companies would show they produced carbon-free electricity and get cash in return.
The plants would receive $9 cash credits for each megawatt of energy produced, with more...
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(Adds information on Bob Paduchik's advocacy of legislation.)