Update:  This week, the PUCO approved Ormet’s expedited request for payment deferrals, subject to a $20 million cap.  Specifically, Ormet requested that PUCO modify Ormet’s existing Unique Arrangement by permitting it to defer its November and December 2012 electricity bills, and, if Ormet fails to make a scheduled repayment, such amount may be treated as delta revenues.  The OMAEG was the single party to submit objections to Ormet’s plan, arguing that Ormet’s request “will impose an additional cost on ratepayers in the event that Ormet defaults on the repayment of the deferral” and that it “gives [Ormet] every incentive to default because AEP-Ohio is held harmless, as a result, the ratepayers will not have standing to sue Ormet in the event of default.”  Therefore, automatic recovery should not be treated as delta revenues.