FirstEnergy Solutions (FES) and FirstEnergy Nuclear Operating, the nuclear and coal power plant units of the US utility FirstEnergy Corporation, have filed voluntary petitions for Chapter 11 bankruptcy protection in order to improve the viability of their operations. The companies have about US$3.8bn in debt and around US$550m in cash, which will enable them to continue normal operations during their restructuring processes. They operate three nuclear plants, namely Davis-Besse in Oak Harbor (Ohio), Beaver Valley in Shippingport (Pennsylvania) and Perry in Perry (Ohio), with a total combined capacity of 4,048 MW, along with two coal-fired plants, one dual gas-oil plant and one pet-coke fired plant.
In March 2018, FES announced plans to deactivate the three aforementioned US nuclear power plants in the next three years owing to market challenges. In November 2017, First Energy had announced that it would exit the non-regulated power generation business, as its coal-fired and nuclear power plants have been struggling in recent years due to low gas prices.
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