Critics say FirstEnergy is shielding its shareholders on the backs of WV ratepayers

FirstEnergy CEO Charles E. Jones has made it clear: He wants to sell power plants that aren’t making investors enough money in deregulated states to subsidiaries in regulated markets.

Ohio’s deregulated market is driven by competition. Because consumers get to choose their suppliers, electricity must be competitively priced. But what’s good for consumers isn’t necessarily good for shareholders in deregulated markets. 

That makes West Virginia’s regulated energy market a more attractive alternative since it shifts risk from shareholders to ratepayers — guaranteeing FirstEnergy a profit. And Jones has said operating facilities in a deregulated market doesn’t play into the Akron-based company’s long-term plans. 

READ THE FULL REPORT IN THE STATE JOURNAL.

File photo from The State Journal.