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Study Slams FirstEnergy Estimates For So-Called Coal Plant Bailout

A new study is providing more ammunition for opponents against the so-called coal plant bailout proposed by two electric utilities. 

The report from the Institute for Energy Economics and Financial Analysis -- or IEEFA -- says FirstEnergy’s plan to guarantee a profit for their struggling coal plants would cost consumers $4 billion.

ButFirstEnergyestimates theirratepayerswould only see their electric bills go up a few dollars a month for a year or two because as natural gas prices rise, coal will be able to compete.IEEFA’sDavidSchlisseldisagrees.

“Those are all fantasy. There’s no evidence that gas prices are going to rise dramatically over the long-term as FirstEnergy appears to say.”

The Public Utilities Commission of Ohio is scheduled to have a ruling on the proposal by March.

Copyright 2021 The Statehouse News Bureau. To see more, visit The Statehouse News Bureau.

Andy Chow is a general assignment state government reporter who focuses on environmental, energy, agriculture, and education-related issues. He started his journalism career as an associate producer with ABC 6/FOX 28 in Columbus before becoming a producer with WBNS 10TV.