Senators Receive OMA Testimony on ‘Significant Earnings’ Provision for Utilities

Earlier this month, we reported on a provision slipped into the House-passed state budget bill (House Bill 166) to alter Ohio’s current law that prohibits excessive profits by utilities.

The new language would allow FirstEnergy operating companies to keep “significantly excessive profits” rather than issuing refunds to more than a million customers, including manufacturers.

This week, the Ohio Senate Finance Committee held hearings on the budget legislation. In written testimony to the committee, the OMA said the amendment to the SEET would do nothing to protect ratepayers.

“The amendment allows FirstEnergy to realize rapacious profits from Ohio customers,” the OMA wrote. “For these reasons, we urge the Senate to strip the unjustified and inequitable amendment from Amended Substitute House Bill 166.” See the OMA’s full testimony here. 5/23/2019