FirstEnergy Solutions Corp.

AKRON, Ohio, July 1, 2019 /PRNewswire/ -- FirstEnergy Solutions Corp. ("FES") applauds the progress on HB6 and is thankful for the effort legislators have demonstrated in crafting a bill that prevents the premature closure of the state's two nuclear facilities.  FES is pleased with the consensus forming to take action to avoid the loss of 90% of Ohio's carbon-free generation, 4,300 direct and indirect family-sustaining jobs and substantial tax revenue.  The company appreciates the hard work, support and commitment of House Speaker Householder, Senate President Obhof and Governor DeWine to work toward final passage of HB6 on July 17.

While FES is optimistic about the outcome for HB6, the company remains unable to purchase the fuel required for Davis-Besse's next refueling cycle without the certainty of critical legislative support.  We remain on path for a safe deactivation and decommissioning.  Should we receive the long-term certainty that comes with an affirmative vote within this timeframe, we will immediately reevaluate our options.  Given the expectation that the legislation will be passed in the coming weeks, we have communicated our commitment to doing everything possible to accommodate this process, which will come with increased financial burden associated with missing the June 30th fuel purchasing deadline for Davis-Besse.

FES, its subsidiaries and FENOC voluntarily filed for bankruptcy on March 31, 2018 in order to facilitate an orderly financial and operational restructuring. The case is proceeding in the U.S. Bankruptcy Court for the Northern District of Ohio, in Akron.

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SOURCE FirstEnergy Solutions