During a recent investor call, AEP CEO Nicholas Akins commented about what a utility-driven re-regulation legislative proposal might look like saying, “There are already drafts of legislation circulating.”
According to reporter John Funk of the Cleveland Plain Dealer who summarized the AEP call, Akins said: “The companies have been looking for a way to escape the perils of market prices that come with deregulation or at the very least craft ‘surgical’ amendments to state laws that since 2000 have been gradually moving the industry into market-based pricing.”
Funk noted that AEP wants to build wind and solar farms and maybe new gas plants, and that FirstEnergy is interested in finding a way to subsidize its two nuclear power plants.
The OMA opposes customer paid subsidies to utilities for non-economic activity and has been fighting utilities’ proposals at the PUCO through its OMA Energy Group. Markets, not regulators, deliver better service, price and innovation.
Join a discussion about re-regulation legislation potential at the February 9 meeting of the OMA Energy Committee. Register here. 2/2/2017