• 4 minutes Is The Three Gorges Dam on the Brink of Collapse?
  • 8 minutes The Coal Industry May Never Recover From The Pandemic
  • 11 minutes China Raids Bank and Investor Accounts
  • 25 mins Sources confirm Trump to sign two new Executive orders.
  • 5 hours Sometimes I Think Trump Supporters on This Forum Are Russians
  • 22 hours CV19: New York 21% infection rate + 40% Existing T-Cell immunity = 61% = Herd Immunity ?
  • 10 hours No More Love: Kanye West Breaks With Trump, Claims 2020 Run Is Not A Stunt
  • 16 hours In a Nutshell...
  • 2 hours Better Days Are (Not) Coming: Fed Officials Suggest U.S. Recovery May Be Stalling
  • 22 hours A Real Reality Check on "Green Hydrogen"
  • 11 hours During March, April, May the states with the highest infections/deaths were NY, NJ, Ma. . . . . Today (June) the three have the best numbers. How ? Herd immunity ?
  • 2 days Why Oil could hit $100
  • 1 day Why Wind is pitiful for most regions on earth
  • 8 hours Putin Paid Militants to Kill US Troops
  • 27 mins Where is Alberta, Canada headed?

Nuclear Watchdog: Ohio Delivers “Death Blow” To Renewables

As Ohio is close to rescuing FirstEnergy’s two nuclear reactors in the state from early retirement by providing financial subsidies, opponents of the nuclear and coal industries and proponents of green energy say that the move may very well be the “death blow” to renewables in the state.  

On Wednesday, the Ohio Senate passed a bill to set up subsidies of US$150 million annually for the nuclear power plants Davis-Besse and Perry, owned by FirstEnergy Solutions. The bill is expected to be sent to Ohio Governor Mike DeWine this week, Josh Price, a senior analyst at Height Capital Markets, told Reuters on Wednesday.

Last year, FirstEnergy Solutions filed for Chapter 11 bankruptcy protection and sought legislative and regulatory relief at the state and federal level to keep certain nuclear and coal plants in the region operational. FirstEnergy Solutions has said that it would retire early, in 2020 and 2021, its two reactors unless it receives financial help to keep them operational.

The Ohio state legislature and governor are poised to grant those requests with the new bill, which drew a lot of criticism from opponents of the nuclear and coal industries.

“Renewable energy is our future; energy efficiency is our future - if we’re going to have a future. And that is all being sacrificed at the altar of nuclear power in Ohio if this thing passes,” Kevin Kamps, a Radioactive Waste Watchdog at the organization Beyond Nuclear and a longtime opponent of FirstEnergy Solutions, told Radio Sputnik in an interview.

Related: Colombia’s Push To Triple Proven Oil & Gas Reserves

“The nuclear and coal industry in Ohio have sabotaged the renewable energy industry. This bailout may be the death blow. In fact, there are very specific provisions in this legislation that would really gut any renewable support in Ohio whatsoever,” Kamps said.

Taxpayer watchdog Citizens Against Government Waste described the planned subsidies for the Ohio nuclear power plants as “outrageous” and added:

“This taxpayer funded bailout will raise monthly bills ranging from around $1 for residential customers all the way up to $2,400 for the largest companies in the area. This huge additional charge could cause some of these larger employers to leave the Buckeye State. This bailout could cost Ohio valuable jobs.”

By Tsvetana Paraskova for Oilprice.com

More Top Reads From Oilprice.com:



Join the discussion | Back to homepage



Leave a comment

Leave a comment

Oilprice - The No. 1 Source for Oil & Energy News