FirstEnergy Nuclear Operating Company, Unions Reach Agreement on Terms of Revised Key Employee Retention Plans

AKRON, Ohio, Nov. 28, 2018 /PRNewswire/ -- FirstEnergy Nuclear Operating Company (FENOC) today announced that the Company has reached a consensual agreement on the terms of proposed key employee retention arrangements that would make a significant number of employees eligible to receive payments for their work in supporting the safe decommissioning and shutting down of nuclear facilities, absent legislative relief.

The consensual agreements are between FENOC and unions representing FENOC employees, International Brotherhood of Electrical Workers Local 245, AFL-CIO, International Brotherhood of Electrical Workers Local 29, AFL-CIO, and Utility Workers Union of America, Local 270, AFL-CIO. The unions will be withdrawing their previously filed objection to approval of the key employee retention plans.

Under the terms of the agreements and the proposed key employee retention plans, if approved by the Court, employees would be eligible for retention payments over a period of two to three and a half years, including 437 union-represented employees.

"We are pleased to have reached an agreement with our unions that will allow us to pursue Court approval of the key employee retention plans, which we believe are absolutely vital to ensure the key employees needed to support continued safe operation while preparing for decommissioning and shutdown of the facilities remain with the company during this highly important time," said Don Moul, president of FES Generation Companies and chief nuclear officer.

A hearing to consider approval of the key employee retention plans is scheduled on November 30.

SOURCE FirstEnergy Nuclear Operating Company (FENOC)