Finance

FirstEnergy Plan Calls for New Gas-Fired Plant, Continued Coal-Fired Generation

FirstEnergy Corp. has unveiled plans to construct a new 1,200-MW natural gas-fired combined-cycle power plant in West Virginia to meet the energy needs of its customers. The company recently submitted an Integrated Resource Plan (IRP) to state regulators, outlining its intention to keep two major coal-fired power plants in the state operational for the next decade.

Headquartered in Akron, Ohio, FirstEnergy’s subsidiaries Mon Power and Potomac Edison are spearheading the development of the new gas-fired power station, which is expected to be up and running by 2031. Additionally, the company aims to enhance its renewable energy portfolio by adding at least 70 MW of solar power generation capacity by 2028. In the interim, FirstEnergy plans to procure power from external sources to maintain grid reliability until the new resources are fully operational.

Jim Myers, FirstEnergy’s president of West Virginia and Maryland, emphasized that the IRP represents a forward-looking approach to meeting the state’s energy demands while supporting economic growth and ensuring cost-effective solutions for customers. The plan aligns with West Virginia Governor Patrick Morrisey’s “50 by 50” initiative, which aims to boost the state’s power generation capacity to a minimum of 50 GW by 2050.

The IRP reaffirms FirstEnergy’s commitment to retaining the 1,098-MW Fort Martin Power Station in Maidsville and the 1,984-MW Harrison Power Station in Haywood for at least the next decade. With over 80% of West Virginia’s electricity currently derived from coal-fired plants, FirstEnergy’s investment in maintaining these facilities underscores its dedication to a diversified energy portfolio.

The proposed gas-fired plant would be the largest in the state in terms of generation capacity, surpassing existing facilities like the 519-MW Ceredo Generating Station owned by Appalachian Power. Larry Pack, West Virginia’s state treasurer, commended FirstEnergy’s initiative to bolster local energy infrastructure, citing the potential for job creation and economic growth.

As one of the largest investor-owned electric systems in the country, FirstEnergy serves over six million customers across several states, including Ohio, Pennsylvania, New Jersey, West Virginia, Maryland, and New York. Its transmission subsidiaries manage approximately 24,000 miles of transmission lines connecting the Midwest and Mid-Atlantic regions. Mon Power and Potomac Edison collectively serve hundreds of thousands of customers in West Virginia and Maryland.

In conclusion, FirstEnergy’s strategic IRP underscores its commitment to meeting evolving energy needs while fostering economic development and sustainability in West Virginia. By embracing a diverse energy mix that includes natural gas, coal, and solar power, the company is poised to play a pivotal role in shaping the state’s energy landscape for years to come.

Darrell Proctor is a senior editor for POWER.

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