L/FOG
64°
more weather




Thursday,
May 01, 2003

 



Tips on searching


Browse Last 30 Days
The Blade Archives
AP Archives


Latest News
Sports
Business
Arts & Entertainment
Davis-Besse In-depth
Opinion
Religion
Health & Science
Technology
Columnists
Obituaries
Special Reports
Weather
AP Wire
Photos of the Day
Lottery
Daily Log
Today's Front Page


General
Homes
Autos
Jobs
Boats/Recreation
Celebrations
Legal Notices
Directory of Worship
Personals

Golf Guide
Restaurant Guide
Arts/Events Calendar
Educational Services
Forums
E-thepeople
TV Listings
Movie Showtimes
Horoscopes


Toledo Pros
House & Home Show
toledo
Contests
KidZone
Mud Hens Web Cam


Set As Homepage
Subscriber Services
Email Newsletter
The Blade e-edition
Advertise
About Us
Contact Us
Help & FAQs

Regional News | Article published Thursday, May 1, 2003
FirstEnergy hedges on Davis-Besse restart
Substitute power to cost at least $45 million


AKRON - FirstEnergy Corp. officials hedged yesterday on the already delayed timeline for Davis-Besse’s restart, saying the nuclear power plant could be operating by the end of June or even July - up to six weeks later than last publicly estimated.

Officials for the Akron utility told analysts and investors during a first-quarter earnings conference call yesterday that getting the restart right - not its exact timing - is most important.

Meanwhile, power to replace the lost output will cost $45 million from April through June and, if needed, $25 million each in July and August, and more has been secured beyond summer, analysts and investors were told.

"From a plant perspective, we’re continuing to make excellent progress," said Gary Leidich, FirstEnergy’s top nuclear unit executive, referring to the idled Davis-Besse near Oak Harbor.

The nuclear power plant has been shut down since February, 2002, at first for refueling and then because workers discovered that leaking boric acid had eaten a hole in the reactor’s head.

In the latest quarter, the shutdown cost FirstEnergy $88 million, or 18 cents a share.

Still, FirstEnergy had a first-quarter profit of $241 million, or 82 cents a share, a 107 percent increase from $116.5 million, or 40 cents a share, a year ago. Thirty-five cents a share of the most recent profits resulted from adopting a new accounting standard regarding its assets.

FirstEnergy’s first-quarter sales were $3.2 billion, up 10 percent increase from $2.9 billion a year ago.

During yesterday’s conference call, analysts and investors were told the company no longer is seeking a buyer for four coal-fired Ohio power plants, including the Bay Shore plant in suburban Toledo.

Their production is being adjusted according to customer demand, one official said.




Article Features »
Printer-friendly version
Forum on this topic
Email to a friend
View the Latest News index
Subcategories »
2002 Census

America Remembers

Davis-Besse

Accidents/Vehicular

City of Toledo

Courts

Crime

Elections

Environment

Fires

Higher Education

K-12 Education

Michigan News

Minority Issues

Obituaries - News

Ohio News

Other

Politics

Regional News

Religion

Suburban News

Transportation

War on terrorism

Weather

Zoo & Library







PAMPER YOUR MOM CONTEST


FLY TOLEDO EXPRESS AND WIN!
Win a two-year lease on a Ford Focus! Click here!

WINNERS LIST
Click here!



CHIROPRATIC
Schwanger & Associates Chiropractic Offices

COMPUTER RETAIL SALES, SERVICE & REPAIR, AND NETWORK SOLUTIONS
Computer Discount

COSMETIC AND FAMILY DENTIST
Jonathan Frankel, D.D.S.

FUNERAL DIRECTOR
Strabler Funeral Home

HEARING AIDS
Hearing Associates, Inc.

HEATING AND AIR CONDITIONING
Shamy Heating & Air Conditioning

HOME MORTGAGE EQUITY
Midwest Mortgage Investments, LTD

INVESTMENTS, RETIREMENT PLANNING & FINANCIAL ADVICE
American Express Financial

PERSONAL INJURY AND MALPRACTICE LAW
Barkan & Robon Ltd.

PLASTIC SURGEON
Arrowhead Plastic Surgeons, Inc.

PLUMBING CONTRACTOR
The Clean Plumbers

REAL ESTATE AUCTIONS
Beth Rose Auctions

REALTOR
Char Winckowski






© 2003 The Blade. Privacy Statement. By using this service, you accept the terms of our visitor agreement: Please read it.

The Toledo Blade Company, 541 N. Superior St., Toledo, OH 43660, (419) 724-6000
To contact a specific department or an individual person, click here.