The proposed Pleasants Power Station bailout was unpredictable and risky for West Virginia electric customers.
What Happened
Mon Power and Potomac Edison—regulated subsidiaries owned by Ohio-based FirstEnergy—were asked to purchase Pleasants Power Station, though it was on the road to closure since 2018. Proponents of the bailout asked the government to put the burden on West Virginians to pay higher electricity bills for a plant that does not benefit us.
There is no current proposal, but we will continue to monitor for any future power plant bailout proposals that would cost ratepayers.
West Virginians should never 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 were 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 wasn’t just expensive—it was 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 benefited no one but the profit-seekers behind Mon Power, who were attempting to shift the significant liabilities and costs of this bailout from its investors onto West Virginians.
Price-gouging West Virginia electric customers by subsidizing old and declining power plants is both ineffective and wrong. Rather than costly bailouts, West Virginians for Energy Freedom (WV4EF) advocates for companies to work directly with communities to develop a fair redevelopment 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.