With negotiations between Ohio’s House and Senate holding up passage of the new two-year budget, the nuclear bailout bill (House Bill 6) is part of the horse-trading between the state’s big three leaders — the governor, speaker of the House, and Senate president. If HB 6 is approved in present form, ratepayers will see higher electricity costs, while Ohio’s energy markets will suffer from market distortion and decreased investment in new generation.
The OMA — a strong opponent of HB 6 — has urged senators to strengthen the bill’s audit provisions to protect ratepayers. However, that has not been among the proposed amendments so far. A recent column in National Review highlights how the nuke plants’ hedge fund owners have refused to accept an amendment that would make the facilities open their books and prove they are unprofitable in order to receive subsidies. “That pretty much says it all,” concludes author Travis Kavulla of the R Street Institute, a free-market think tank.
This week, Sen. Steve Wilson (R-Maineville), chair of the Senate Energy and Public Utilities Committee, said things are “still on track” for HB 6 to be passed out of the Senate yet this month. Hannah News Service reported that the chairman believes Senate leadership still supports the bill.
While there is still time, manufacturers should contact their state legislators — especially senators — and tell them NO on the nuke bailout! 7/11/2019