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Bankruptcy judge turns back FirstEnergy reorganization plan
Utility Dive: The ruling from bankruptcy Judge Alan Koschik means FirstEnergy's reorganization plan is on hold, at least for now.
Under FirstEnergy's January deal with a majority of its creditors, the company's generation subsidiary FirstEnergy Solutions (FES) would close the money-losing coal and nuclear plants, but retain its retail supply services. As a result of the creditor deal, FirstEnergy canceled a planned sale of that retail business to Constellation, the competitive arm of rival utility Exelon.
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