The proposed Pleasants Power Station bailout is unpredictable and risky for West Virginia electric customers.
Mon Power and Potomac Edison—regulated subsidiaries owned by Ohio-based FirstEnergy—are being asked to purchase Pleasants Power Station, though it’s been on the road to closure since 2018. Proponents of the bailout are asking the government to make West Virginians likely to pay higher electricity bills for a plant that does not benefit us.
West Virginians should not have to face another hike in utility prices.
The costs of the proposed bailout would fall squarely on Mon Power and Potomac Edison customers, as all power plants owned by regulated utilities are paid for by customers, including the costs of purchasing, operating, and maintaining the power plants. Beyond the immediate expense of the bailout, $80-$120 million in improvements are needed for the plant to comply with water pollution standards.
West Virginians’ electricity rates were already raised 4.8% in early 2023—additional rising rates are unwanted and unwarranted. Mon Power and Potomac Edison customers’ rates have increased by more than 50% over the past 15 years.
This bailout isn’t just expensive—it's not even necessary.
The power plants currently owned by Mon Power produce more energy than is used by existing customers. West Virginia electric rate payers have zero need for an additional power plant. The sale of Pleasants Power Station benefits no one but the profit-seekers behind Mon Power, who are attempting to shift the significant liabilities and costs of this bailout from its investors onto West Virginians.
What can be done?
Price-gouging West Virginia electric customers by subsidizing old and declining power plants is both ineffective and wrong. West Virginians for Energy Freedom (WV4EF) asks that FirstEnergy and Energy Harbor work directly with the community to develop a fair community development plan, including investments in job creation, training, and helping local residents reduce energy costs.
WV4EF is committed to advancing energy choice for our communities and fighting for our right to take control of where our energy comes from.