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Article: FirstEnergy Declines to Sell Lake Erie-Area Power Plants to Low Bidders.
- Article from:
- The Blade (Toledo, OH)
- Article date:
- December 21, 2002
CopyrightCOPYRIGHT 2002 The Blade. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Dec. 21--The Bay Shore power plant in suburban Toledo and three other coal-fueled power plants along Lake Erie will not be sold by FirstEnergy Corp. because bids were too low, the company said yesterday.
It sets the stage for FirstEnergy to sue another company that had agreed to buy the plants for $1.5 billion, but then backed out.
The 648-megawatt plant in Oregon employs 180 and is owned by FirstEnergy. The other plants involved are in Ashtabula, Eastlake, and Cleveland. Together, the plants produce 2,535 megawatts, or enough power for about 2 million average-size U.S. homes.
"Based on the bids we received, retaining the plants to serve our ...