Stop FirstEnergy’s $300 million bailout
Ohio’s House of Representatives is considering an outrageous bill to force taxpayers to bailout monopoly utility FirstEnergy’s uneconomic nuclear and coal power plants while limiting our ability to invest in solar energy.
In addition to imposing a $300 million annual tax to subsidize FirstEnergy’s aging, expensive nuclear power plants, HB 6 would also repeal the state’s successful renewable and energy-efficiency power plant standards. These standards have led to more than $4 billion in savings and thousands of new Ohio jobs.
If the bill passes, every Ohio resident ($2.50/month) and business ($20-$250/month) will pay private corporations to prop up their noncompetitive investments. Adding insult to injury, the proponents are calling the tax increase a “clean air resource” bill.
Make no mistake, HB 6 is corporate welfare at its worst, distorts the market, and harms our ability to generate our own solar electricity.