Moody's: Let First Energy nuclear plants close

Three planned nuclear plant closures in Ohio and Pennsylvania are an all-around positive for other power plant operators in their energy market, credit-rating giant Moody’s said Friday.

Its new analysis suggests that letting the First Energy plants close as scheduled would raise prices for other power plants looking to bid in next month’s auction by regional grid operator PJM Interconnection, which would improve earnings. That’s good for other power plants, such as coal-powered ones, that are facing economic hurdles.