TOLEDO, Ohio (AP) – A bailout is being proposed for Ohio’s two nuclear plants that would end up increasing rates for FirstEnergy Corp.’s customers in the state.
Backers say the plants are needed to make sure Ohio has a diverse lineup of energy sources and they’re a big provider of jobs and tax money. Supporters say rate hikes would be capped at 5 percent.
It will be up to the Ohio legislature and Republican Gov. John Kasich whether to OK what would amount to a huge subsidy for the plants that make 14 percent of the state’s electricity.
Akron-based FirstEnergy says the move is needed to keep open the Davis-Besse and Perry plants that sit along Lake Erie.
Both plants are aging and face stiff competition from cheaper natural gas plants.