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Judge Rejects FirstEnergy Bankruptcy Plan
By: Associated Press
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COLUMBUS, Ohio (AP) — A federal bankruptcy judge has rejected a multi-billion dollar plan by a subsidiary of FirstEnergy Corp. to avoid paying the cost of cleaning up and decommissioning nuclear and coal powered electric plants in Ohio and Pennsylvania.
Cleveland.com reports U.S. Bankruptcy Court Judge Alan Koschik ruled Thursday that FirstEnergy Solutions’ plan was “patently unconfirmable.”
State and federal regulators have argued FirstEnergy is trying to abuse the bankruptcy system to avoid paying costs when it shuts down plants.
The FirstEnergy subsidiary said in a statement it’s working to address Koschik’s ruling.
FirstEnergy Solutions filed for bankruptcy last year to separate it from FirstEnergy Corp. It plans by 2021 to decommission three nuclear plants in Ohio and Pennsylvania and three coal plants in those states by the end of 2022.