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Ohio House passes its version of Bill rescinding nuclear subsidies

Ohio House passes its version of bill rescinding nuclear subsidies,  By Andrew J. Tobias, cleveland.com, COLUMBUS, Ohio, 10 Mar 21,  – The Ohio House has passed its version of a bill rescinding key portions of the controversial House Bill 6, including its $1 billion in nuclear subsidies.

House Bill 128 passed 86-7 on Wednesday afternoon. The bill also would revoke “decoupling” language in HB6 that guaranteed revenue for FirstEnergy at 2018 levels, and language that likely would have made it easier for FirstEnergy to pass a state test meant to prevent utilities from making excessive profits.

Of note, a House committee before passing the bill earlier this week changed it to add back in language offering $20 million in annual solar subsides to six large-scale solar projects. Developers behind some of the projects, some of which are have been completed or are close to it, told lawmakers that revoking the funding would economically undermine the deals they had made with companies that had agreed to buy the power they generated.

The Ohio Senate previously has passed two bills removing pieces of House Bill 6, which is at the center of a federal corruption probe. One would rescind the nuclear subsidies, while another would rescind the “decoupling” provision and seek refunds for consumers. No bill has received final passage.

Other portions of HB6 so far have remained untouched, provisions eliminating energy efficiency programs and renewable energy mandates, and subsidizing two coal plants — one in Indiana, one in Ohio — owned by a consortium of Ohio utility companies.

Ohio House and Senate leaders will have to sort out how they line up the competing versions of the bills. Any law change requires approval by both chambers before heading to Gov. Mike DeWine for his signature….. https://www.cleveland.com/open/2021/03/ohio-house-passes-their-version-of-bill-rescinding-nuclear-subsidies.html

March 11, 2021 - Posted by | politics, USA

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