This week the Supreme Court of Ohio issued an opinion (case summary) finding that the PUCO cannot order the FirstEnergy power companies to refund $43 million to customers for the “imprudent” purchase of renewable energy credits made in 2010.
“This decision negatively impacts the ability of the PUCO to protect customers against the utilities from collecting imprudent expenditures. The Court’s decision will send shockwaves through the industry, halting rider rate approvals and changing the regulatory paradigm,” wrote OMA energy counsel Kim Bojko of Carpenter Lipps & Leland in a briefing to members of the OMA Energy Group.
The ruling further justifies the need for regulatory reforms contained in House Bill 247 (Romanchuk, R-Mansfield) that protect customers from above-market power charges. 1/25/2018