They are at it again. After their last attempt at a bailout was shut down by the Federal Energy Regulatory Commission (FERC), FirstEnergy is attempting yet another bailout worth $4 billion could cost consumers an added $10 to $15 every month.
Ohioans overwhelmingly oppose the agreements under consideration by the Public Utilities Commission of Ohio (PUCO) that would guarantee profits for older American Electric Power (AEP) and FirstEnergy power plants, according to two independent opinion polls.
With hearings resuming this week in Columbus, AARP is urging the Public Utilities Commission of Ohio to reject a proposed settlement with FirstEnergy that would grant the electric company an unprecedented $3.1 billion bailout.
It isn’t bad enough that two million Ohioans who receive Social Security checks have been denied a Cost of Living Adjustment (COLA) for the year ahead after being told the higher prices they are paying for food and medicine don’t count as inflation. Now they might have to endure a hike in their electric bills, too, just in time for colder weather and the holidays.
AARP Ohio earlier testified against the subsidy proposed by American Electric Power (AEP), which the Public Utilities Commission of Ohio (PUCO) soundly rejected in February, and remains opposed to granting AEP a surcharge that will cost consumers an estimated $2 billion to bail out an aging coal plant, according to Trey Addison, who leads work on state utilities issues for AARP Ohio. He notes:
AARP Ohio opposes an unnecessary and costly First Energy proposal, now pending before the Public Utilities Commission of Ohio (PUCO), which would force customers to subsidize some of its power plants through a surcharge on their electric bills. The added fee would cost customers an estimated $3 billion over the next 15 years.
Search AARP States
Sign Up & Stay Connected