Water Infrastructure Refinancing Bill Passes Senate With HB 6 Provision

This week, the Ohio Senate approved a notable amendment to a water infrastructure bill, House Bill 264. The amendment modifies last year’s nuclear bailout law (House Bill 6) to provide up to $300,000 to the state agency charged with reviewing financials of Ohio’s two nuclear power plants to verify they are losing money before the plants can receive $150 million a year in ratepayer-funded subsidies.

Recently, Energy Harbor, the owner of the power plants, rewarded investors with hundreds of millions of dollars in stock buybacks. Not bad for a company that just emerged from bankruptcy. 7/1/2020