Hearings Have Wrapped up on Proposed Rates Hikes to Subsidize Coal Plants

Jan 26, 2016

Bill Ridmann, Vice President of Rates and Regulatory Affairs at FirstEnergy
Credit STATEHOUSE NEWS BUREAU

Hearings have ended and now it’s up to state regulators to decide if the so-called coal plant bailout for two electric utilities should be approved. Statehouse correspondent Andy Chow reports.

FirstEnergy and AEP say adding a charge to customers’ monthly bills in order to guarantee income for struggling coal plants will stabilize costs and ensure grid stability. Opponents say this is an unnecessary bailout that helps ineffective and dirty coal plants.

But FirstEnergy’s Bill Ridmann says he believes they were able to clearly show the benefits of the plan during the hearings.

“Both the economic development part of it -- the rate stability part of it for our customers under our rate stability rider. So I think overall I think we have a very strong record in the case.”

The PUCO is expected to make its decision by the end of March.