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AEP and Buckeye Power tell committee rollback of ESPs and legacy rider risks reliability, investment
Summary
AEP Ohio and Buckeye Power opposed provisions of House Bill 15 that would repeal Electric Security Plans and end statutory recovery for OVEC, saying the changes could weaken utilities' balance sheets, impair planned investments and raise costs to consumers.
AEP Ohio and Ohio's electric cooperatives told the House Energy Committee that elements of House Bill 15, as drafted, risk harming utilities' ability to finance grid improvements and could expose customers to higher costs.
Craig Grooms, president and CEO of Buckeye Power and Ohio's Electric Cooperatives, said his members "support the legislature's goal of incentivizing new generation resources in Ohio" but warned the HB 15 language would not just incentivize new resources; it would transfer cash to existing merchant generators and raise taxes on transmission — a change that would translate into higher costs for electric cooperative members. He urged the…
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