May 12, 2017, Volume 6, Issue 50

05/12/2017

Update:  Thomas Lause, Vice President and Treasurer of Cooper Tire & Rubber Company, testified this week before the Ohio House of Representatives on behalf of the OMA in opposition to HB 178, which creates credits for FirstEnergy Corp.’s nuclear generation facilities estimated to cost FirstEnergy Ohio customers approximately $300 million per year for 16 years or $4.8 billion total. Mr. Lause explained to lawmakers that additional charges to electricity prices would create additional costs, which would either be borne by its customers or cause companies to sacrifice already thin profit margins. Mr. Lause further explained that this new charge could deter companies from investing in Ohio due to higher electricity costs. Mr. Lause also argued that subsidized charges imposed on consumers and manufacturers under HB 178 is inconsistent with Ohio’s competitive markets and does not benefit the state. Anthony Smith, Energy Coordinator for Cooper Timer and OMA’s energy counsel, Kim Bojko of Carpenter Lipps & Leland, were also present to field questions.     

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