ML20132A846

Resolution 20-1996 Supporting Merger of Ohio Edison & Centerior Corp Under New Holding Company Called Firstenergy

ML20132A846
Person / Time
Site:	Davis Besse, Perry
Issue date:	12/02/1996
From:	Bryan T, Cicchinelli F, Howell S OHIO, STATE OF
To:
References
NUDOCS 9612160353
Download: ML20132A846 (1)

Text

IMYE:- XR9rd@rvD O S9 CLERK: SHARON HOWELL l CITY OF MASS'ILLON, OHIO So-$f&

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COUNCIL CHAMBERS LEGISLATIVE DEPARTVENT RESOLUTION NO. 20 - 1996

, G BY: PUBLIC UTILITIES COMMITTEE '

1 TITLE: A RESOLUTION supporting the merger of Ohio Edison and Centerior Corp.

under a new holding company called FirstEnergy.

I WHEREAS, Ohio Edison is a valued corporate citizen, significant taxpayer  ;

and major employer in the Massillon area; and WHEREAS, the merger of Ohio Edison and Centerior Energy Corp. would create a $5 billion, Fortune 300 Company in Ohio; and WHEREAS, FirstEnergy would become the nation's lith largest investor-owned electric systems Ohio's largest taxpayer, with $516 million in annual payments; and one of the State's top-20 employers; and WHEREAS, the merger would keep jobs in Ohio where 87 percent of FirstEnergy's revenues are generated, 77 percent of its kilowatt-hours are cold, and 75 percent of its employees with advanced degrees graduated f rom our state's institutions of higher learning; and WHEREAS, the merger would create a larger enterprise with more rescurces offering customers better electric service and a wider array of energy-related products at lower prices over the long term; and I

WHEREAS, the combination of contiguous service areas will assist community I and state economic development efforts in attracting jobs over a wider region of Ohio.

NOW, THEREFORE, BE IT RESOLVED BY THE COUNCIL OF THE CITY OF MASSILLON, ETATE OF OHIO, THAT Section 1: '

This Council hereby urges State and Federal regulators to quickly approve the FirstEnergy merger so that Ohio Edison customers and employees can begin to enjoy its benefits as soon as possible.

Section 2:

That copies of this resolution be forwarded to Governor George V.

Voinovich, Ohio Consumers' Counsel Robert S. Tongren, members of the Federal Energy Regulatory Commission, members of the Nuclear Regulatory Commiss:icn.

members of the Public utilities Commission of Ohio, State Representative Ralph Regula and State Senator Scott Oselager.

Section 3r That this resolution shall be immediately effective.

f PASSED IN UNCILTHIS/ DAY OF 1996 s APPROVED: A #d4/x_/ dd

1. dARON flOWELL,~ CLERK OF COUNCIL

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Tut BRYAN, ACTpG FRESITERT APPROVED 4. - A - j # l(g ff WW

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• FLWS H. CICCHINEELI, JR., M' I breby certify that the foregoing ordinance b e M.e copy of the original, as passed by i -s U m cil i 2 3 cprm,r3 cai f the City of Itass1IIon. Ohio, noted ecc:

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