FirstEnergy Solution files for Chapter 11 Bankruptcy Protection

Days after FirstEnergy approached the Department of Energy with a request for what would have effectively been a bailout package, the company announced that its coal subsidiary FirstEnergy Solutions and nuclear unit FirstEnergy Nuclear Operating Co. filed for Chapter 11 bankruptcy protection.

 

https://oilprice.com/Latest-Energy-News/World-News/FirstEnergy-Coal-Nuclear-Business-Files-For-Bankruptcy.html

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There should be no bankruptcy relief whatsoever. Capitalism at work

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6 minutes ago, Cokiga Damke said:

I thought we were supposed to make coal great again.

coal waste is more radioactive than nuclear waste.

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He was just in Ohio last week and didn't mention a word about energy.

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The business was not failing. They simply want a special, higher, government guaranteed rate.

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Obama wasted Billions on unproven solar and wind companies ...to his Democrats friends. Nuclear power and coal are powerful, baseline energy sources.

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US Government stepping in to save First Energy would set very bad precedent. Too many companies like itin same condition. Bad decisions, like paying out over $500mn in dividends every year, have consequences for poorly run companies.

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 If you are old enough, you will remember the energy crises back in the 70's. When it first hit, people really started exploring alternative energy. 

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57 minutes ago, 李伟王芳 said:

There should be no bankruptcy relief whatsoever. Capitalism at work

Coal and nuclear together account for our second largest source of electricity at 35% behind natural gas at 40%

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This is a decision for the federal court judge based on regulations not on social media or popularity .

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On 4/9/2018 at 11:05 AM, Michele Denney said:

This is a decision for the federal court judge based on regulations not on social media or popularity .

Definitely we'll see what happens. 

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