FirstEnergy Coal & Nuclear Divisions File Bankruptcy - Seek Bailout From DT (weapon, Murray)

[BugsyPal]

The coal and nuclear divisions of Ohio power company FirstEnergy (FE) filed for Chapter 11 restructuring over the weekend, mere days after the company sent a letter to the Energy Department requesting emergency relief. They're seeking a bailout through a rarely-used section of federal law normally reserved for natural disasters or times of war. Coal power company files for bankruptcy and asks Trump for bailout

[GotHereQuickAsICould]

They're blaming the Federal Energy Regulatory Commission for not going along with the Trump Energy Department's plan to “carve coal-fired and nuclear-powered generators out of the competitive market and provide them with a rate that guaranteed their profitability.”

http://www.theintelligencer.net/news...ripple-effect/

Seems the FERC wouldn't give them a sweet deal, so bankruptcy it is.

[AlongTheI-5]

How many more bankruptcies must they have to catch up with Trump?

[BugsyPal]

And the whinging begins: FirstEnergy Workers Plead Lawmakers To 'Save My Job' | WOSU Radio


http://www.theintelligencer.net/news...ripple-effect/


As does the fallout: FirstEnergy Solutions begins bankruptcy - The Blade

[GotHereQuickAsICould]

FirstEnergy is one of the largest utility companies in the country.

Seems they moved the unprofitable plants into one unit and that unit will declare bankruptcy.

Is that how it's going?

[Mason3000]

Did they launch when Trump took office? Or could it be the weaponized policies of the Obama admin almost drove them out of business?

[GotHereQuickAsICould]

Or could it be market forces?

Could it be cheaper more efficient natural gas and renewable energy is driving coal fired and nuclear power plants out of business?

[Pilot1]

They're going to be bought by Exelon Energy.

[craigiri]

The GOP Senators from the midwest are already asking for "mitigation" from DT for how their farmers will suffer sometime in the future. You couldn't make up fiction as laughable as this...

Aren't those farmers and senators patriotic enough to "take one for the team"?

Now we are going to have to subsidize them even more (ag has always been heavily subsidized in one way or another)??

My head is spinning...I have to catch it because it spins away. I just cannot, in any way, fathom the "balance the budget" and "you sink or swim, tough luck" slogans of Republicans against the complete opposite.

I've been around and this seems to be the most clueless and CORRUPT administration in history. I guess most historians agree, which is why DT is currently sitting at a #45 out of 45 in terms of POTUS ratings.

[Mircea]

Originally Posted by craigiri

I guess most historians agree, which is why DT is currently sitting at a #45 out of 45 in terms of POTUS ratings.

Trump's term in finished, and Liberal historians generally rank presidents based on how much of the Liberal agenda they've accomplished.