Higher electric bills are coming, Ohio, thanks to deWine's taxpayer bailout

[Ohiogal]

TOLEDO, Ohio (AP) -

Ohio has become the latest state to hand out a billion-dollar financial rescue for its nuclear power plants.

Republican Gov. Mike DeWine quickly signed the plan Tuesday hours after lawmakers approved giving $150 million a year to the plants near Cleveland and Toledo.

The legislation will tack a new fee onto every electricity bill in Ohio while scaling back requirements that utilities generate more power from wind and solar.

FirstEnergy Solutions had been warning the plants would close within two years unless the government steps in and helps.

Many of the nation's nuclear plants are struggling to compete with cheaper energy sources.

http://www.wfmj.com/story/40826396/governor-dewine-signs-energy-bill-to-save-power-plants-increase-electric-bills

********** Bad enough we had no say in this matter, but I have always wondered why First Energy spent all that $$ naming the Browns' stadium????

[CrispyQ]

1. Can we call it corporate socialism?

We should ask our republican families and acquaintances why they are OK with socialism for corporations, but not for We the People? I'm not saying I'm against all bailouts, but let's call it what it is:

PRIVATIZED PROFITS
SOCIALIZED RISK

[irisblue]

2. Another source

https://radio.wosu.org/post/lawmakers-pass-blockbuster-bill-overhauling-energy-policy-favor-nuclear-coal

Snip-..."Supporters have said the subsidies are needed to save more than 4,000 primary and secondary jobs at FirstEnergy Solutions’ two nuclear plants, Davis-Besse and Perry. The argument was also made that nuclear provides about 15% of the state’s energy and that it's the largest non-carbon emitting energy source in Ohio."

Snip-"The plan would create an $0.85 charge on monthly electric bills. That, along with increased charges for commercial and industrial users, would generate $150 million a year for the nuclear plants. Another $20 million would go towards existing solar farms."


Snip-"FirstEnergy Solutions announced in 2018 that it was filing for bankruptcy and had to close its two nuclear power plants unless policymakers granted subsidies. Some opponents of the bill question that claim.

The bill allows utilities to also charge ratepayers up to $1.50 a month to subsidize Ohio Valley Electric Corporation (OVEC) coal plants, Kyger Creek (Gallia County) and Clifty Creek (Madison, IN)."

So why am I paying for Indiana coal?

[Ohiogal]

3. I don't know, iris.

According to Forbes, coal is on the way out in Indiana in favor of renewables.

Dewine says Ohio don’t need no stinkin’ renewables....

https://www.forbes.com/sites/jeffmcmahon/2019/07/02/mike-pences-indiana-chooses-renewables-over-gas-as-it-retires-coal-early/

[Backseat Driver]

4. If you are eligible, Ohioans, grab the new fee back by signing up or changing

your money-saving alternative energy provider...your bill will still be serviced by the service provided utility (AEP, etc.). Choose it and see the a comparison of the regulated alt. provider's kilowatt charges and costs that may be available to you here:


Here's those available in the AEP service areas: https://energychoice.ohio.gov/ApplesToApplesComparision.aspx?Category=Electric&TerritoryId=2&RateCode=1