Bankruptcy ruling could lead to higher Ohio electric pricing - News, Weather, Sports, Toledo, OH

Bankruptcy ruling could lead to higher Ohio electric pricing

(Source: First Energy) (Source: First Energy)
(AP) -

A recent ruling in federal bankruptcy court could mean higher rates for millions of Ohio electricity customers.

A bankruptcy judge last week ruled that FirstEnergy Solutions was able to opt out of its share of costs as an owner of the Ohio Valley Electric Corp. FirstEnergy Solutions and other power companies in the state, including American Electric Power, Duke Energy and Dayton Power and Light, shared ownership and debt costs for the plants as part of Ohio Valley.

FirstEnergy Solutions, the power plant arm of Akron-based FirstEnergy, filed for bankruptcy protection March 31.

The ruling means other Ohio Valley Electric Corp. owners will have to replace FirstEnergy Solutions or absorb costs, possibly resulting in higher rates for customers all around Ohio.

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