Swearingen Recognizes FirstEnergy Solutions' Financial Restructuring, Becomes Energy Harbor Corp.
State Rep. D.J. Swearingen (R-Huron) acknowledged the successful financial restructuring of FirstEnergy Solutions to emerge as Energy Harbor Corp. – the owner of the Davis-Besse nuclear plant located in Swearingen’s 89th district.
The company will receive funding from the state to keep the plant open under House Bill 6, the Ohio Clean Air Program, which passed last year in the General Assembly.
“I am very pleased to see the company’s financial struggles resolved as they own the Davis-Besse plant,” said Swearingen. “The plant is critical for jobs and the economy that will help countless Ohioans throughout our region thrive.”
The Ohio Clean Air Program legislation, which became effective last October, saves ratepayers $1.3 billion by removing expensive and failed electric mandates on customer billing. Additionally, over 4,000 jobs are tied to the state’s nuclear industry, which is more than $500 million in Ohio’s GDP. The two nuclear plants in the state provide 15 percent of the state’s electric generation, and even a larger 90 percent of its zero carbon generation.
The legislation also supported development of on-site wind projects and large scale solar projects – this further increases Ohio-generated, zero carbon power. Swearingen has also noted previously how the Davis-Besse plant has an impact on local school districts – the plant contributes 40 percent of Benton-Carroll-Salem schools’ tax revenues, heavily impacting the local education system.
Most recently, as the Davis-Besse plant has remained open through the Ohio Clean Air Program, it was announced in January the plant was chosen as a pilot site for hydrogen production research to test whether nuclear plants can produce hydrogen for industrial and commercial uses.