{"id":13000,"date":"2016-04-21T09:19:31","date_gmt":"2016-04-21T14:19:31","guid":{"rendered":"http:\/\/blogs.edf.org\/energyexchange\/?p=13000"},"modified":"2016-04-21T09:29:11","modified_gmt":"2016-04-21T14:29:11","slug":"why-this-impending-bailout-for-ohio-coal-plants-is-bad-news-for-america","status":"publish","type":"post","link":"https:\/\/blogs.edf.org\/energyexchange\/2016\/04\/21\/why-this-impending-bailout-for-ohio-coal-plants-is-bad-news-for-america\/","title":{"rendered":"Why This Impending Bailout for Ohio Coal Plants is Bad News for America"},"content":{"rendered":"

\"\"Wait \u2013 Ohio utility regulators did what?<\/p>\n

The $6-billion bailout of uneconomical coal and nuclear plants is bad enough. But the decision by the Public Utilities Commission of Ohio to let two power companies saddle ratepayers with their bad debt also sets a dangerous precedent that could have ramifications for consumers in other states.<\/p>\n

This is more than a local rate case. It\u2019s about traditional utilities going on the offense against new and cleaner power providers that offer cheaper rates in a competitive energy market<\/a> \u2013 a drama playing out nationwide.<\/p>\n

All eyes are now on the federal agency overseeing wholesale electricity markets to see if the Ohio deal will stand or fall.<\/p>\n

If the Federal Energy Regulatory Commission should side with Ohio and the two utilities, it could set off a domino effect of fossil fuel plant bailouts\u00a0that will hurt the environment and consumer pocket books. There are indications similar utility subsidy deals are on the horizon in Michigan, New Jersey, New York and Texas.<\/p>\n

That\u2019s why it\u2019s so important to get this one right.<\/p>\n

[Tweet “Why this impending bailout for Ohio coal plants is bad news for America”]<\/p>\n

Protecting corporate profits at consumers\u2019 expense<\/strong><\/p>\n

In essence, the Ohio deal forces power customers in the state\u00a0\u2013\u00a0including those serviced by other providers\u00a0\u2013\u00a0to buy electricity from FirstEnergy\u2019s and American Electric Power\u2019s uneconomical plants, and regardless of cost.<\/p>\n

Here\u2019s how the scheme works<\/a>: FirstEnergy and AEP\u2019s plants can\u2019t compete in the marketplace because the power they produce is too expensive. So the utilities convinced state regulators to guarantee the purchase of the electricity, and to pass on the cost to Ohio ratepayers. The bill to consumers comes to $6 billion over the life of the contracts.<\/p>\n

The truth is, the Ohio utilities made some bad investments years ago and have since been slow to adapt to change.<\/p>\n<\/div>\n

The power companies have defended the deal, saying their coal and nuclear plants need to keep running to maintain a reliable supply of electricity, steady market prices, and job security for plant workers.<\/p>\n

Of course, this is not how it\u2019s supposed to work in a competitive marketplace.<\/p>\n

The truth is, the Ohio utilities made some bad investments years ago and have since been slow to adapt to change. Their plants became uneconomical when natural gas prices dropped and energy efficiencies took a bite out of power sales. They\u2019re now at risk of becoming stranded assets.<\/p>\n

We don\u2019t think consumers or the environment should pay for these companies\u2019 mistakes. This is not the time to keep dirty power plants on life support \u2013 in Ohio or anywhere else.<\/p>\n

Photo source:\u00a0Flickr<\/a>\/Robert S. Donovan.<\/em><\/p>\n

This post originally appeared on our\u00a0Voices<\/a> blog.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

Wait \u2013 Ohio utility regulators did what? The $6-billion bailout of uneconomical coal and nuclear plants is bad enough. But the decision by the Public Utilities Commission of Ohio to let two power companies saddle ratepayers with their bad debt also sets a dangerous precedent that could have ramifications for consumers in other states. This …<\/p>\n","protected":false},"author":39893,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[46898,28800],"tags":[],"coauthors":[],"class_list":["post-13000","post","type-post","status-publish","format-standard","hentry","category-firstenergy","category-ohio"],"acf":[],"yoast_head":"\nWhy This Impending Bailout for Ohio Coal Plants is Bad News for America - Energy Exchange<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/blogs.edf.org\/energyexchange\/2016\/04\/21\/why-this-impending-bailout-for-ohio-coal-plants-is-bad-news-for-america\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Why This Impending Bailout for Ohio Coal Plants is Bad News for America - Energy Exchange\" \/>\n<meta property=\"og:description\" content=\"Wait \u2013 Ohio utility regulators did what? 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