The Public Utilities Commission of Ohio (PUCO) recently opened an investigation into whether it should order rate cuts to reflect the federal tax cut, from 35% to 21%, from which Ohio electric utilities are now benefiting. Public utilities commissions in other states are taking similar action, and most utilities appear to be cooperating in the matter. Not in Ohio.
This week, Ohio’s four electric utilities joined together to produce a raft of legal objections to having to set aside revenue for possible refunds. Their objections are rooted in the state’s faulty ratemaking statutes, statutes that need to be reformed, and would be if the legislature would act on HB 247, sponsored by Rep. Mark Romanchuk (R-Mansfield). 2/15/2018