This week, a group of Ohio’s utilities that collectively own the Ohio Valley Electric Corporation (OVEC) testified against House Bill 351, which would repeal an HB 6-related subsidy for two unprofitable Cold War-era coal plants — one of which is in Indiana.
The group defended the customer-funded subsidy, calling it a potential “hedge” against higher natural gas prices, even as the financial burden on ratepayers has ballooned to $150 million per year. The utilities defended the subsidy as needed insurance for customers. To date, no ratepayer refund has been provided through the OVEC subsidy. The OMA continues to spearhead efforts to end this HB 6 giveaway. 10/28/2021