COLUMBUS, Ohio — FirstEnergy Solutions has announced that it will rename the company to Energy Harbor.
According to a release, Energy Harbor will emerge as a private company headquartered in Akron and will employ nearly 2,800 people.
The company was founded in 1997 as a subsidiary of FirstEnergy Corp. and runs nuclear power and coal plants in Ohio and Pennsylvania, as well as a coal plant in West Virginia.
RELATED: FirstEnergy Solutions to close Pennsylvania coal power plant nearly two years earlier than expected
The name change follows recent efforts to emerge from bankruptcy and a passage of House Bill 6, under which it will get more than $1 billion from Ohio ratepayers to bail out its two nuclear plants in Northern Ohio.
"The name Energy Harbor reflects a focus on providing our customers and local communities with safe and resilient energy in addition to industry leading service to manage their energy needs," said Chief Executive Officer John Judge in a statement. "Energy Harbor is built on a low-carbon generating fleet that produces reliable baseload power critical for grid stability. In Ohio, it currently produces 90% of the state's carbonfree generation. The company will be a financially secure, independent power producer and a fully integrated retail energy provider with a competitive suite of products for its growing customer base. We will emerge well positioned for long-term value creation and competitiveness in a low-carbon future."
