Court turns down bid to block vote on nuclear plant rescue
Corporate Governance
The Ohio Supreme Court rejected a lawsuit attempting to block a proposed statewide vote that aims to overturn a financial rescue for Ohio's two nuclear plants, according to a decision issued Wednesday.
The plants' owner, FirstEnergy Solutions, had argued that the financial rescue approved by state lawmakers in July can't be overturned by voters because it amounts to a tax. The company had said the Ohio Constitution prohibits tax levies from being overturned by voters.
While the decision is a win for opponents of the $1.5 billion rescue package for the nuclear plants and two coal-fired plants, they're still waiting to hear whether the courts will give them additional time to collect signatures needed for a statewide vote.
Investors and developers in the state's natural gas industry, along with backers of green energy, have led the fight against the nuclear plant rescue, which adds a new fee on every electricity bill in the state and scales back requirements that utilities generate more power from wind and solar.
Related listings
-
Supreme Court steps into case over consumer agency
Corporate Governance 10/17/2019The Supreme Court is stepping into a yearslong, politically charged fight over the federal consumer finance watchdog agency that was created in the wake of the 2008 financial crisis.The justices agreed Friday to review an appeals court decision that ...
-
Gunmaker asks US Supreme Court to hear Sandy Hook appeal
Corporate Governance 08/04/2019The maker of the rifle used in the Sandy Hook Elementary School shooting asked the U.S. Supreme Court to hear its appeal Thursday of a state ruling against the company.Remington Arms, based in Madison, North Carolina, cited a much-debated 2005 federa...
-
Trump can make asylum seekers wait in Mexico
Corporate Governance 05/08/2019A federal appeals court ruled Tuesday that the Trump administration can make asylum seekers wait in Mexico for immigration court hearings while the policy is challenged in court, handing the president a major victory, even if it only proves temporary...