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Judge allows bankrupt FirstEnergy Solutions to exit power plant co-op
Utility Dive: FirstEnergy Corp. last month reported financial results for the first time since separating from its competitive generation business, and posted significantly higher earnings. The company also raised its forecast for 2018 earnings, seeing a brighter future having cut loose its FirstEnergy Solutions (FES) subsidiary.
But FES' bankruptcy will have impacts on other companies, and potentially on customers, warn some stakeholders. OVEC also includes Dayton Power & Light, American Electric Power and Duke Energy, and they turned to regulators in an attempt to block FES from exiting the corporation, citing increased costs in managing two power plants.
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