OVEC Subsidy Repeal Introduced; New Study Updates Costs to Ohio Customers

At the Statehouse, House Bill 120 has been introduced to repeal House Bill 6 subsidies for two Ohio Valley Electric Corp. coal-fired power plants. According to this summary, the bill would also require full repayments of revenues collected under the HB 6 OVEC subsidy.

A new study by RunnerStone — the OMA’s energy engineering team — finds Ohioans have already paid nearly $400 million to OVEC’s utility owners. The study estimates customers will subsidize OVEC’s utility owners around $850 million by 2030. Meanwhile, the power plants are at risk of major environmental upgrades, which would further increase costs to Ohioans. 3/23/2023