Energy Roundup: PUCO Forecasts More Electricity Use

• The 2022 annual report from the Public Utilities Commission of Ohio says the state used 139.9 million MWh of electricity in 2020 and is expected to consume 148.4 million MWh in 2040.
• Newly introduced Ohio legislation (House Bill 685) would provide incentives for natural gas infrastructure buildout in unreached areas of the state.
• Gov. Mike DeWine has downplayed recently released text messages in which former FirstEnergy officials said Lt. Gov. Jon Husted advocated for nuclear subsidies in House Bill 6 in 2019.
• Federal prosecutors overseeing the HB 6 bribery case want the PUCO to pause its interviews into whether FirstEnergy billed customers for lobbying related to the scandal since they “may directly interfere with or impede” the ongoing federal investigation.
• Since 2020, Ohioans have paid $173 million to subsidize three Ohio utility companies’ investments in two coal-fired power plants, thanks in part to HB 6. (A small credit for ratepayers went into effect in July.)
• Groups representing Ohio’s oil and gas sector are expressing disappointment after President Joe Biden signed the so-called Inflation Reduction Act, saying it will impose undue burdens on domestic oil and gas producers.
• The federal reconciliation law gives automakers some certainty due to its 10-year consumer tax credit for electric vehicle purchases. But reports say manufacturers worry about the credit’s component sourcing and manufacturing requirements.

Meanwhile, the average gasoline price in Ohio has fallen dramatically in the past several weeks to roughly $3.70 per gallon at last check. This heat map shows prices nationwide. 8/18/2022