FirstEnergy Case Update

The Ohio Legislature appears to be making progress on eliminating most of the provisions included in a corruption-tainted energy bill, now the subject of federal investigations. Lawmakers voted unanimously to approve a bill that removes the most scrutinized provision…a $1 billion bailout for two Ohio nuclear plants that were operated by a subsidiary of Akron-based FirstEnergy…when the energy bill was approved in July 2019. A new company, called Energy Harbor, took ownership of the two plants along the Lake Erie shoreline in February 2020 in a U.S. Bankruptcy Court deal. Energy Harbor has indicated to lawmakers it no longer wants the subsidy that would have been funded by electric customers from across the state.