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In FirstEnergy Bailout, Customers Would Pay 1 Month Extra for 8 Years

first_imgIn FirstEnergy Bailout, Customers Would Pay 1 Month Extra for 8 Years FacebookTwitterLinkedInEmailPrint分享John Funk for the Cleveland Plain Dealer:Federal utility regulators appear to be the last bulwark between consumers and FirstEnergy’s efforts to make them pay more to subsidize two of its old Ohio power plants.The Ohio Consumers’ Counsel, several environmental groups and competing power suppliers have asked the Federal Energy Regulatory Commission to intervene a second time in a case pending before Ohio regulators.What’s at stake for consumers?Higher electric bills even as low natural gas prices continue to drive coal and nuclear power plants to the sidelines and gas-fired plants push wholesale power prices to new lows.Ohio Consumers’ Counsel Bruce Weston said consumers using an average amount of electricity could pay $790 to $827 extra for electricity over the next eight years, or about $100 extra every year.All customers would pay extra, even those who buy their power from competing suppliers. The surcharge would be “non-bypassable.” The total cost to all customers, including commercial and industrial, would come to about $3.6 billion, said Weston.The money that people need for school clothes and medical co-pays will bail out inefficient coal & nuclear plants.”“When all the jargon is stripped away, the FirstEnergy … [plan] requires regular people to pay an extra month’s electric bill each year for eight years.Full article: FirstEnergy customers would pay equivalent of extra monthly electric bill for up to eight yearslast_img

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