Firstenergy

The Ohio House of Representatives has passed a bill to subsidize the state’s two nuclear power plants in a move decried by the natural gas industry, which has staunchly opposed out-of-market assistance for the reactors operated by bankrupt FirstEnergy Corp. subsidiaries.

FirstEnergy Corp. (FE) subsidiary FirstEnergy Solutions Corp. late Wednesday announced plans to shutter four fossil fuel power plants, including Pennsylvania’s largest coal-fired facility, by 2022.

Citing prolific natural gas supplies from the Appalachian Basin that have eroded profits from power sales, FirstEnergy Corp. (FE) subsidiaries FirstEnergy Solutions Corp. and affiliates, along with FirstEnergy Nuclear Operating Co. (FENOC), have filed for Chapter 11 bankruptcy protection.

FirstEnergy Corp. announced Wednesday that it has entered an agreement to sell part of the property and assets at the site of its shuttered Hatfield’s Ferry Power Station in southwest Pennsylvania to a New Jersey-based developer that wants to build a large natural gas-fired power plant.

FirstEnergy Corp. subsidiaries Allegheny Energy Supply Co. LLC (AE Supply) and Allegheny Generating Co. (AGC) have reached an agreement to sell 1,572 MW of natural gas and hydro generating assets for $925 million in cash to an affiliate of New York-based power developer LS Power Group.

FirstEnergy Corp. subsidiary Allegheny Energy Supply Co. LLC (AE Supply) has struck a nonbinding agreement with an undisclosed party to sell 1,572 MW of natural gas and hydro generating assets for $885 million.

The competitive power generation business is dragging down FirstEnergy Corp. and the company wants out, management said last week when it highlighted a plan to possibly sell up to 13 power plants in Ohio and Pennsylvania or file for bankruptcy to protect the rest of its business from the segment.

Crews have begun raising steel poles for a new FirstEnergy Corp. transmission line designed to serve the needs of unconventional shale development in West Virginia.

FERC has stepped in to block a pair of controversial Ohio power purchase agreements (PPA) designed to keep currently uneconomic coal and nuclear generating units owned by FirstEnergy Corp. and American Electric Power Co. (AEP) in operation.