Wednesday, July 24, 2019

Nuclear Bailout in Ohio is Now Law

From Cleveland.com:
After 14 weeks of legislative negotiations, intense lobbying, and a deluge of ads, Ohio lawmakers on Tuesday gave final approval to legislation to subsidize nuclear and coal power plants with millions of dollars from the public and effectively gut the state’s green-energy mandates for utilities. 
House Bill 6, which passed 51-38, was quickly signed into law by Gov. Mike DeWine on Tuesday afternoon. Under the bill, from 2021 until 2027, every Ohio electricity customer would have to pay a new monthly surcharge that ranges from 85 cents for residential customers to $2,400 for large industrial plants. 
Starting next January, ratepayers around the state would also have to chip in up to $1.50 monthly (and up to $1,500 per month for commercial and industrial users) to subsidize coal plants in Ohio and Indiana run by the Ohio Valley Electric Corporation. 
However, HB6 would effectively stop Ohio’s decade-old energy-efficiency and renewable-energy mandates for utilities, which currently cost residential customers an average of $4.74 per month, according to cost charts provided by the Ohio Senate committee that heard the bill. 
That means by 2027, residential ratepayers would, overall, save an estimated $3.78 per month over what they pay now, according to the charts.
Read more by clicking here. 

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