Ohioans could see a new charge on their electric bills as early as June, now that state regulators have approved plans by FirstEnergy and AEP to guarantee income for struggling coal plants. But opponents of the costs say the fight isn’t over.
A vote is set for tomorrow on plans from FirstEnergy and AEP that is estimated to hike customers’ electricity bills by nearly $6 billion over eight years and to generate guaranteed income for struggling coal plants.
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.