FirstEnergy Solutions intends to emerge from Chapter 11 as an independent power producer with coal and nuclear power plants.

Observers had been expecting FES to come out of Chapter 11 this week, as U.S. bankruptcy court Judge Alan M. Koschik on Tuesday, Aug. 20, began confirmation hearings in Akron on FES's reorganization plan. The company was previously the unregulated power generation arm of FirstEnergy Corp. Energy Harbor, then FirstEnergy Solutions, filed for Chapter 11 bankruptcy in … Ohio-based FirstEnergy Corp. has announced U.S. Bankruptcy Judge Alan Koschik has approved the utility’s definitive settlement agreement in the Chapter 11 proceedings of subsidiaries FirstEnergy Nuclear Operating, FirstEnergy Solutions and its subsidiaries, Kallanish Energy reports. FirstEnergy Solutions technically remains the unregulated generation arm of FirstEnergy during the bankruptcy process. FirstEnergy Solutions Corp. announced it had reached a deal with creditors for a restructuring that could bring the bankrupt power generation company out of Chapter 11 … The FirstEnergy Corp. subsidiaries that own the Beaver Valley nuclear power plant and the Bruce Mansfield coal-fired plant filed for Chapter 11 bankruptcy protection over the weekend. The operator of the Davis-Besse nuclear power plant in Oak Harbor announced Thursday that it had completed their chapter 11 restructuring process and changed its name. FirstEnergy Solutions Corp. says it has worked out an agreement with former parent FirstEnergy Corp. that eliminates concerns raised in a bankruptcy court ruling earlier this month and will allow FirstEnergy Solutions to conclude its Chapter 11 bankruptcy proceedings this year. The process is part of a plan by FirstEnergy Corp. to become a fully regulated electric utility. FirstEnergy Solutions has filed for Chapter 11 bankruptcy protection from its creditors. FirstEnergy Solutions and FirstEnergy Nuclear Operating Company File Voluntary Petitions for Chapter 11 Restructuring - Operations Expected to Continue Normally during Restructuring The agreement eliminates what are called “nonconsensual third-party releases” that FirstEnergy Solutions … FirstEnergy Solutions Exits Bankruptcy as Energy Harbor Ohio power producer emerges from chapter 11 with new name under the ownership of Avenue and Nuveen That will allow FirstEnergy to move forward with its plan to exit competitive markets and focus on its … Additionally, the Mansfield plant's value, along with the value of FirstEnergy Solutions' nuclear power plants in Perry Township and Ottawa County, is still a moving target.

FirstEnergy Solutions (FES) apparently will exit bankruptcy a little later than planned, but the Akron company still hopes to be fully reorganized and out of court this year.. FirstEnergy Solutions Corp. filed for Chapter 11 protection at the end of March, aiming to reduce $3 billion in funded debt and become part of a fully regulated business. With reports still circulating after the Chapter 11 filing that President Donald Trump may yet force ratepayers to subsidize those plants, their value is tough to determine.