The Ohio legislature has approved House Bill 15, a comprehensive energy proposal designed to stimulate new power generation in the state. The bill seeks to address the increasing demand for energy both within Ohio and the surrounding region. A key feature of HB 15 is the reduction of infrastructure taxes on new distribution, transmission, and generation assets.
The legislation also includes measures to protect Buckeye Power and existing electric cooperative members from potential stranded costs by expanding behind-the-meter generation in Ohio. Additionally, it introduces reforms to the Public Utilities Commission of Ohio (PUCO), eliminates electric security plans (ESP), prohibits investor-owned utilities from owning power generation, and removes the cost recovery mechanism for the Ohio Valley Electric Corporation (OVEC).
House Bill 15 is currently awaiting Governor DeWine's signature.