Ohio's Nuclear Subsidy Law Has Already Killed $1.6 Billion in Gas Investment

摘要

The gas industry's worst fears about an Ohio energy law passed in July are being realized as $ 1.6 billion of investment in gas-fired power has been canceled.The latest casualty came late last month when Clean Energy Future(CEF)scrapped plans to build a third gas plant at its complex in Lord-stown,Ohio at a cost of $1.1 billion.CEF President Bill Siderewicz blamed the Jul.23 passage of HB 6,which among other actions provides about $150 million per year in subsidies to First Energy Solutions'(FES)908 megawatt Davis-Besse and 1,268 MW Perry nuclear power plants from 2020-26(NGW Jun.10’19).They were scheduled to shut in 2020 and 2021,respectively.The bill also subsidizes two coal-fired plants that were set for closure.Siderewicz said his company had previously warned that”bailing out 3,000 MW of uneconomical coal/nuclear plants will have devastation economic’ripple effects’in Ohio by forcing new investment to leave Ohio in the form of an equivalent 3,000 MW of new modern gas-fired plants going elsewhere,.i.Political tampering with Ohio's free electricity generation markets has very real impacts and results,as we see happening now.”He said CEF has spent more than $1 million in development and permitting costs.