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By Jon Goldstein and Nichole Saunders When New Mexico legislators adjourned last Saturday, they had a long list of accomplishments for the first session under Gov. Lujan Grisham’s executive leadership. Near the top of that list is a bill that, once signed, will mark the first major legislative reform for the state’s oil and gas […]

The post New Mexico legislation marks new focus on improved oil and gas oversight under Gov. Lujan Grisham appeared first on Energy Exchange.

By Jon Goldstein and Nichole Saunders When New Mexico legislators adjourned last Saturday, they had a long list of accomplishments for the first session under Gov. Lujan Grisham’s executive leadership. Near the top of that list is a bill that, once signed, will mark the first major legislative reform for the state’s oil and gas […]

By Jon Goldstein and Nichole Saunders When New Mexico legislators adjourned last Saturday, they had a long list of accomplishments for the first session under Gov. Lujan Grisham’s executive leadership. Near the top of that list is a bill that, once signed, will mark the first major legislative reform for the state’s oil and gas […]

96 Brother, can you spare a dime…for FirstEnergy’s nuclear plants? p{ margin:10px 0; padding:0; } table{ border-collapse:collapse; } h1,h2,h3,h4,h5,h6{ display:block; margin:0; padding:0; } img,a img{ border:0; height:auto; outline:none; text-decoration:none; } body,#bodyTable,#bodyCell{ height:100%; margin:0; padding:0; width:100%; } .mcnPreviewText{ display:none !important; } #outlook a{ padding:0; } img{ -ms-interpolation-mode:bicubic; } table{ mso-table-lspace:0pt; mso-table-rspace:0pt; } .ReadMsgBody{ width:100%; } .ExternalClass{ width:100%; } p,a,li,td,blockquote{ mso-line-height-rule:exactly; } a[href^=tel],a[href^=sms]{ color:inherit; cursor:default; text-decoration:none; } p,a,li,td,body,table,blockquote{ -ms-text-size-adjust:100%; -webkit-text-size-adjust:100%; } .ExternalClass,.ExternalClass p,.ExternalClass td,.ExternalClass div,.ExternalClass span,.ExternalClass font{ line-height:100%; } a[x-apple-data-detectors]{ color:inherit !important; text-decoration:none !important; 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} } @media only screen and (max-width: 480px){ .mcnTextContent,.mcnBoxedTextContentColumn{ padding-right:18px !important; padding-left:18px !important; } } @media only screen and (max-width: 480px){ .mcnImageCardLeftImageContent,.mcnImageCardRightImageContent{ padding-right:18px !important; padding-bottom:0 !important; padding-left:18px !important; } } @media only screen and (max-width: 480px){ .mcpreview-image-uploader{ display:none !important; width:100% !important; } } @media only screen and (max-width: 480px){ h1{ font-size:30px !important; line-height:125% !important; } } @media only screen and (max-width: 480px){ h2{ font-size:26px !important; line-height:125% !important; } } @media only screen and (max-width: 480px){ h3{ font-size:20px !important; line-height:150% !important; } } @media only screen and (max-width: 480px){ h4{ font-size:18px !important; line-height:150% !important; } } @media only screen and (max-width: 480px){ .mcnBoxedTextContentContainer .mcnTextContent,.mcnBoxedTextContentContainer .mcnTextContent p{ font-size:14px !important; line-height:150% !important; } } @media only screen and (max-width: 480px){ .headerContainer .mcnTextContent,.headerContainer .mcnTextContent p{ font-size:16px !important; line-height:150% !important; } } @media only screen and (max-width: 480px){ .bodyContainer .mcnTextContent,.bodyContainer .mcnTextContent p{ font-size:16px !important; line-height:150% !important; } } @media only screen and (max-width: 480px){ .footerContainer .mcnTextContent,.footerContainer .mcnTextContent p{ font-size:14px !important; line-height:150% !important; } } FirstEnergy's nuclear plants are losing money and aren't needed to keep the lights on. Why should Ohioans pay?  Thursday March 21, 2019 - Edition #63

FirstEnergy is pushing for a new law that would force all Ohio utility customers—not just those in its own service territory—to bail out the uneconomic nuclear plants operated by its subsidiary, FirstEnergy Solutions (FES). Although these plants are losing money, FirstEnergy is suggesting to legislators that in the long run they will be a great value for Ohio electricity consumers.
 
But FirstEnergy described the plants’ financial outlook much differently back in 2017. (SEC). Here’s what they told the Securities and Exchange Commission about the nuclear plants then:
 
“Long-term low prices in the wholesale energy and capacity markets continue to challenge the coal and nuclear baseload units….The continued weakness of these markets may further negatively and materially impact the future results of operations and financial condition of FirstEnergy and FES….”
 
FES filed for bankruptcy due to massive losses from its nuclear and coal plant business.
 
FirstEnergy must have a lot of explaining to do to Ohio legislators. A new independent report shows the plants aren’t necessary to keep the lights on – the region has more power plants than it actually needs.
 
Speaking of lights, we hope state leaders will see the light and refuse to saddle Ohio consumers with a bailout for FirstEnergy’s nuclear plants.

--> But can you walk the (enviro) walk? FirstEnergy paints itself as a great steward of the environment. Here’s how the company describes its environmental commitment:
  “We’re committed to protecting the environment….We’re proud of the leadership role our employees have taken in finding new and innovative ways to enhance our environmental performance.”  
The company talks the talk, but sure doesn’t walk the walk. When given a choice to own up to its environmental responsibilities, FirstEnerqy ran in the opposite direction.
 
As part of its bankruptcy settlement (which would transfer FES and its power plants to creditors), FirstEnergy and its leaders sought to ram through provisions that would allow it to escape any future liability for cleanup costs at the coal and nuclear plants, including remediation of coal ash and decommissioning of reactors.
 
Believing that sunlight is the best disinfectant, EDF and its allies, as well as state and federal agencies, were quick to object. The agencies correctly pointed out that FirstEnergy (possibly including company leaders) may be liable for these cleanup costs separately and independently from FES, because FirstEnergy owned and operated the plants for many years before transferring the plants to FES.
 
We convinced the bankruptcy judge to reject FES’s request to approve the language of the releases and disclosure statements. FES will need to revise the language to clarify that FirstEnergy Corp. and its leaders will remain liable for environmental cleanup costs. The judge scheduled another hearing for April 2nd to consider the new language that FES will develop.

If you believe FirstEnergy really cares about the environment, I have some nice swampland in Florida I’d like to sell you…. --> --> Copyright © 2019 Environmental Defense Fund |Energy, All rights reserved.


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Written by Dominique Browning

I wanted to say an enormous, heartfelt thank you to Congressman Paul Tonko, for your beautifully articulated principles for action on climate change. They are smart, succinct, encompassing and inspiring. Exactly the kind of integrity and leadership we need to see, to cut through the...

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By Matt Miccioli, EDF Stanford Schneider Fellow A recent study of oil and gas methane emissions on the Navajo Nation reveals companies operating on tribal lands pollute 65 percent more than the national average, wasting millions in tribal resources every year and underscoring the opportunity for tribal leaders to reduce emissions. The analysis, conducted by […]

By Matt Miccioli, EDF Stanford Schneider Fellow A recent study of oil and gas methane emissions on the Navajo Nation reveals companies operating on tribal lands pollute 65 percent more than the national average, wasting millions in tribal resources every year and underscoring the opportunity for tribal leaders to reduce emissions. The analysis, conducted by […]

By Matt Miccioli, EDF Stanford Schneider Fellow A recent study of oil and gas methane emissions on the Navajo Nation reveals companies operating on tribal lands pollute 65 percent more than the national average, wasting millions in tribal resources every year and underscoring the opportunity for tribal leaders to reduce emissions. The analysis, conducted by […]

By Matt Miccioli, EDF Stanford Schneider Fellow A recent study of oil and gas methane emissions on the Navajo Nation reveals companies operating on tribal lands pollute 65 percent more than the national average, wasting millions in tribal resources every year and underscoring the opportunity for tribal leaders to reduce emissions. The analysis, conducted by […]