FirstEnergy Solutions to become Energy Harbor, keep headquarters in Akron

Crain’s Cleveland Business wrote an article entitled, “FirstEnergy Solutions to become Energy Harbor, keep headquarters in Akron,”  that explains the recent developments of a local business that owns many power plants throughout Ohio. FirstEnergy Solutions Corp. (FES) will be rebranding itself with the name Energy Harbor following its recovery from bankruptcy. It will part from its parent company,  FirstEnergy Corp., yet will still hold its headquarters in Akron and employ 2800 people. FES has been bankrupt since March of 2018 and has intended to recover from bankruptcy proceedings as an independent and unregulated generation company. FES currently owns two power plants that were awarded government subsidies by the state of Ohio: the Davis-Besse Nuclear Power Station and the Perry Nuclear Plant.

With new legislation being pushed in Ohio, House Bill 6, clean energy could have an economically competitive edge in the new future. CEO, John Judge, commented, “The company will be a financially secure, independent power producer and a fully integrated retail energy provider with a competitive suite of products for its growing customer base. We will emerge well positioned for long-term value creation and competitiveness in a low-carbon future.”

To read the article in Crain’s Cleveland Business, click here: “FirstEnergy Solutions to become Energy Harbor, keep headquarters in Akron.”