OMA Testifies against Nuke Bailout

Thomas Lause, Vice President, Treasurer, Cooper Tire & Rubber Company, this week testified on behalf of the OMA in opposition to HB 178 and its proposed multi-billion-dollar bailout of FirstEnergy’s uneconomic, uncompetitive nuclear power plants in Ohio. Lause is an OMA director and serves on the finance committee of the OMA board.

“We are keenly interested in public policies that will drive lowest cost energy resources and solutions – rather than policies that will impose billions of dollars of unwarranted, anti-competitive, above market charges on our businesses,” Lause testified.

“If enacted as introduced, House Bill 178 would cost FirstEnergy’s customers an estimated $300 million a year, for up to 16 years, to subsidize two Ohio nuclear power plants operated by FirstEnergy’s subsidiary, FirstEnergy Solutions. That adds up to $4.8 billion.”

If enacted, this bill would pile onto the billions of dollars of above-market charges Ohio utilities have been able to put on customers’ bills.  5/11/2017

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