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FirstEnergy Abandons Coal Plant Sale After FERC Rejection

Law360 (February 7, 2018, 7:35 PM EST) -- FirstEnergy has told a West Virginia regulator it would not move forward with plans for its merchant power unit to sell a coal-fired power plant to one of the company’s utilities, saying that in the wake of regulatory setbacks the $195 million deal was no longer worth pursuing.

The letter sent Monday to the Public Service Commission of West Virginia said the purchase agreement “will be terminated” in the wake of recent decisions by the state body and the Federal Energy Regulatory Commission. In mid-January, FERC...
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