Question: When is ‘Excessive’ Profit Not Enough?

Answer: When you are FirstEnergy.

Undeterred by the massive bailout request pending in sub House Bill 6, lobbyists from the Akron-based utility were able to get a provision tucked into the state budget bill, House Bill 166.

Monopoly electric utility companies are heavily regulated by the Public Utilities Commission of Ohio (PUCO) in order to protect customers from price gouging. Under Ohio law, electric utility companies are entitled to enjoy just and reasonable profits. The law authorizes PUCO regulators to limit monopoly profits. The provision now contained in HB166 would allow FirstEnergy operating companies to keep “significantly excessive profits” rather than refund them to consumers.

The OMA provided testimony against the anti-consumer amendment and urged lawmakers to strip the proposed change. 5/8/2019