In a teleconference call this week

FirstEnergy looking to sell or shutter Perry Nuclear Power Plant

FirstEnergy President and CEO Charles E. Jones has previously said that market prices for energy have been pushed down by cheap energy from natural gas and other sources and those low prices aren high enough to justify continuing to power those plants.

In a teleconference call this week, Jones reported the company lost $6.2 billion in 2016. In the same call Jones reaffirmed plans to quit power generation.

The nuclear plant in North Perry is one of two FirstEnergy owns in the state. The other is the Davis Besse plant in Ottawa County, which would also be sold or shuttered.

As FirstEnergy looks to off the power plants, it has met with state lawmakers to propose legislation that would make the nuclear plants more enticing to potential buyers.

The proposal is for emission credits, (ZEC) which aims to raise about $300 cheap jerseys million annually and is estimated to add at least 5 percent to customer bills.

The ZEC would help to offset the losses incurred by competing against natural gas.

According to E News, the soon to be proposed legislation would follow similar plans that were recently approved in New York and Illinois.

Lake County Commissioner Daniel P. Troy was at the Ohio Energy Conference in Columbus Feb. 21 and 22 when Sen. Bill Seitz, R Cincinnati, broke the news of upcoming legislation.

Seitz spoke to the conference Tuesday morning and said he wasn sure if deregulation was the right idea in 2000 but he said to put all that toothpaste back in the tube 17 years later was unlikely to happen, Troy said at the Feb. 23 commissioners meeting. I think there going to be a big battle in the legislature over renewable energy standards. And I think it the right thing to do for those communities that these big huge manufacturing facilities are resident in.

Jones said the nuclear assets are valued at about $1.5 billion while the debt is higher than that.

Troy said they to have to wait to see what proceeds here.

Perry Schools, Perry Joint Fire District and Perry Joint Economic Development District all get a amount of tax revenue from the power plant obviously that a concern, Troy said. He added Lake County Auditor Edward Zupancic will keep them up to date on what the impact will be down the road.

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