News and Analysis
Manufacturers will want to check out this story published by Utility Dive regarding the OMA’s concern that the PJM Interconnection has overstated capacity shortfall risks. As the article notes, PJM’s estimate is fueling arguments against competitive markets, even as investigations continue into the House Bill 6 scandal. 1/4/2024
A $10 million federal grant announced this week seeks to attract small- and mid-sized manufacturers specializing in “clean energy” supply to Appalachian counties, including Ohio. Read more. 1/4/2024
There are conflicting messages about electric vehicles. Are they booming — or are they piling up on dealer lots? E&E News reports that both happen to be true, adding the U.S. market for EVs is growing, just not at the blistering pace it was a few months ago.
Meanwhile, the number of EV models that qualify for federal tax credits fell from 43 to 19 this week after new guidance on foreign-made EV components. This has left automakers anticipating more uncertainty, reports say. 1/3/2024
The National Association of Manufacturers has criticized the Biden administration’s newly proposed regulations impacting the federal Clean Hydrogen Production Tax Credit. The rules would impose many hurdles to qualifying for the credit while blocking job-creating investments, the NAM says. 12/26/2023
House Bill 363 has been introduced to reform the appointment process for the Public Utilities Commission of Ohio. Among the changes would be a requirement that one of the five commissioners be selected by the governor from a list provided by the Ohio Consumers’ Counsel. This report by Gongwer News Service provides further details. 12/26/2023
The El Nin͂o weather pattern has brought above-normal temperatures to much of the U.S., resulting in lower energy prices. OMA Connections Partner Scioto Energy reports that as of mid-December, natural gas and electric power prices had tumbled 28% and 10%, respectively.
Gas and electricity pricing will continue to be under pressure this winter due to lower heating demand, natural gas storage levels above the five-year average, production at all-time highs, and no increase in LNG exports expected until late 2024.
Cold weather bursts will result in price volatility, but longer-term pricing is in a sweet spot not seen since before Russia’s invasion of Ukraine, according to Susanne Buckley, partner at Scioto Energy. This is a good time to contact your energy advisor to take advantage of this market opportunity, Buckley said. 12/20/2023
As previously reported, the OMA and the Office of the Ohio Consumers’ Counsel have asked the Public Utilities Commission of Ohio to pause FirstEnergy’s proposed $1.4 billion rate hike until more is known about former PUCO Chair Sam Randazzo’s role in the FirstEnergy-House Bill 6 scandal.
In a recent editorial, The Blade (Toledo) signaled its support for the OMA’s actions, writing that the association is “paying attention and protecting economic competitiveness.” Read the editorial. 12/18/2023