bailout

Protesters' photo
KABIR BHATIA / WKSU

Akron City Hall is backing one of the city’s biggest employers in calling for a government alternative to FirstEnergy plans to close three nuclear power plants. 

A statement from Mayor Dan Horrigan followed the announcement that the Akron-based utility plans to shutter the David Besse and Perry nuclear power plants in Ohio and Beaver Valley plant in Pennsylvania. It also came right after FirstEnergy -- as expected -- declared Chapter 11 bankruptcy of its deregulated power-generating subsidiary, FirstEnergy Solutions.

First Energy Bulding
Tim Rudell / WKSU

EDITOR'S NOTE: The name of FirstEnergy's spokeswoman was misspelled in this story and has been corrected. 

FirstEnergy just got a $2.5 billion financial boost in its struggle to transition back to a fully regulated utility. Three large investment firms are buying about a 16 percent equity stake in the Akron-based energy company.