FERC denies Pleasants Power Station transferGREAT NEWS! The Federal Energy Regulatory Commission yesterday denied FirstEnergy Corp.'s request to transfer the Pleasants power plant to Mon Power and Potomac Edison, two of the Ohio company's West Virginia subsidiaries.
The decision ends this attempt by FirstEnergy for another bailout from its West Virginia customers.
"FERC rejected the Pleasants sale because of the risk that it would result in improper cross-subsidization among subsidiaries of FirstEnergy. This order is not surprising because FirstEnergy clearly orchestrated the sale of the Pleasants plant in order to shift costs and risk from a deregulated subsidiary onto the customers of Mon Power and Potomac Edison."
— Cathy Kunkel, an energy analyst with the Institute for Energy Economics and Financial Analysis
We'll be sharing more analysis of the decision soon. Watch your inboxes, along with our Facebook and Twitter feeds.
Download and read the FERC decision
Read the article in today's Charleston Gazette-Mail
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