AKRON, Ohio (AP) — A subsidiary that runs FirstEnergy Corp.‘s nuclear and coal-fired power plants has filed for bankruptcy.
The move announced late Saturday by FirstEnergy Solutions signals the parent company’s plan to get out of the power producing business.
It comes after the utility said March 28 that it intends to shut down its three nuclear plants in Ohio and Pennsylvania within the next three years.
The company’s power-producing subsidiary says it’s seeking bankruptcy protection to “facilitate an orderly financial restructuring” and the filing is in the best interest of the company and creditors.
FirstEnergy has been unable to get financial help from federal and state leaders to keep its nuclear plants operating.
Akron-based FirstEnergy supplies electricity to about 6 million customers in six states from Ohio to New Jersey.
First Published: April 1, 2018, 4:00 a.m.
Updated: April 1, 2018, 11:33 p.m.
