The Ohio legislature approved wide-ranging energy legislation last week with the passage of House Bill 15. The proposal aims to incentivize the production of new power generation in Ohio to meet the growing demand for energy in the state and region. HB 15 will significantly lower infrastructure taxes on new distribution, transmission, and generation assets. The legislation also protects Buckeye Power and existing electric cooperative members from potential stranded costs with the expanding the scope of behind-the-meter generation in Ohio. Other changes in law include PUCO reforms, eliminating electric security plans (ESP), prohibiting investor-owned utilities from owning power generation, and eliminating the cost recovery mechanism for Ohio Valley Electric Corporation (OVEC).
House Bill is awaiting the signature of Governor DeWine.
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