Utility FirstEnergy has taken the long-threatened step of filing for bankruptcy protection for its competitive power generation subsidiaries. It’s the latest development for a coal and nuclear power fleet that has become a focus of the Trump administrations efforts to shift energy policies to favor fossil-fired electricity.
Saturdays filing with the U.S. Bankruptcy Court for the Northern District of Ohio seeks Chapter 11 protection for FirstEnergy Solutions (FES), as well as for subsidiaries FirstEnergy Generation and FirstEnergy Nuclear Operating Company. The companies, which operate power plants in the Midwest and mid-Atlantic, hold about $3.8 billion in collective debt, as compared to 2017 revenues of $3.1 billion.
FirstEnerg…
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