WASHINGTON (July 23) –– Statement of Travis Kavulla, Energy Policy Director: “The fast tracking of the new House Bill 6 is a net loss for Ohio’s competitive power market model — not to mention Ohio energy consumers. Instead of spurring competition between emissions-reducing power sources, legislators are fastening their constituents to one supplier for the foreseeable future. To add insult to injury, this supplier is a company whose shortsighted business practices have resulted in its inability to compete in the open market. Sadly, political favoritism is not an effective market principle, and Ohio ratepayers will be the ones to bear the cost.
While it is encouraging that states are stepping up to address climate change, large companies like FirstEnergy and their political allies are taking advantage of clean-energy regulations to pad their bottom lines and benefit their shareholders. This greenwashing of a direct bailout will neither return money to the public nor further reduce carbon emissions.”