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News and Analysis

Webinar: Clean Energy Tax Incentives

January 12, 2024

At 10 a.m. Jan. 25, OMA members can participate in a no-cost webinar to examine new incentives that assist businesses with financing and constructing clean energy-related assets. Experts from Bricker Graydon, the OMA’s general counsel, will conduct this online event. Register here. 1/9/2024

Update: Section 45X Tax Credit

January 12, 2024

Section 45X was added to the federal tax code by the Inflation Reduction Act as an incentive for manufacturers producing various components for clean energy technologies. OMA Connections Partner CliftonLarsonAllen has published this update to provide guidance on how to claim the credit. 1/10/2024

Utility Giveaway Signed Into Law

January 5, 2024

On Dec. 28, Gov. Mike DeWine signed House Bill 201 containing the Ohio Senate’s last-minute provision to authorize a potentially far-reaching utility giveaway.

In the name of “economic development,” the OMA-opposed provision will permit additional above-market costs on business and residential customers, while stripping consumer protections.

This editorial by The Blade (Toledo) lambasted the language in HB 201, writing that it’s “counterproductive to the fortunes of existing Ohio businesses to have additional expense added to their energy costs.” 1/4/2024

OMA: PJM Overstated Capacity Shortfall Risks

January 5, 2024

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

‘Clean Energy’ Manufacturing Grant for Appalachia

January 5, 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

Are EV Sales Soaring or Flopping?

January 5, 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

Manufacturers Blast New Hydrogen Tax Credit Rules

December 28, 2023

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

Bill Aims to Alter PUCO Appointment Process

December 28, 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

Experts: Take Advantage of Lower Energy Prices

December 21, 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

Editorial: No FirstEnergy Rate Hike

December 21, 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