FirstEnergy Solutions Applauds Enactment of HB6 Legislation

AKRON, Ohio, July 24, 2019 /PRNewswire/ -- FirstEnergy Solutions Corp. ("FES") today applauded the enactment of House Bill 6 into law, a monumental step in helping to avoid the premature closure of the company's two nuclear plants in Ohio while preserving 4,300 highly-skilled jobs and an important economic engine for the state economy.

"We are very pleased that Governor Mike DeWine signed HB6 following its successful bi-partisan passage in the General Assembly," said John W. Judge, CEO of FirstEnergy Solutions. "We're also thankful for the support and commitment by Speaker Householder and Senate President Obhof who understood the importance of protecting 90% of the state's zero- emissions electricity, substantial employment and the need to provide affordable rates from a diverse portfolio of generation sources for Ohioans."

"I also want to acknowledge and express our gratitude to our dedicated employees for their passionate advocacy which included contacting their state representatives to support HB6. At the same time, they remained focused and diligent in their jobs," Mr. Judge said.

Mr. Judge also commended the legislature for "drafting a bill that preserves the state's nuclear assets, reduces the customers' electric bills and provides rigorous oversight to protect customers if market conditions change."

FES stated at the beginning of its restructuring that it would deactivate and decommission its nuclear plants without the certainty of critical legislative support.  Now that HB6 has been signed into law, FES will begin the process to rescind the deactivation orders for its Perry and Davis-Besse nuclear power stations and immediately resume preparation for the mandatory Davis-Besse refueling outage in the Spring. 

FES, its subsidiaries and FENOC voluntarily filed for bankruptcy on March 31, 2018 in order to facilitate an orderly financial and operational restructuring. The case is proceeding in the U.S. Bankruptcy Court for the Northern District of Ohio, in Akron.

SOURCE FirstEnergy Solutions