Senate Energy panel adopts substitute and hears sponsor testimony on SB2 to reshape Ohio electricity market

Senator Reineke, sponsor of Senate Bill 2, moved and the Senate Energy Committee adopted the substitute bill 0333-1 as the working document, agreeing to the adoption without objection. The committee then heard Reineke’s sponsor testimony outlining a comprehensive plan to expand generation, increase competition, and place procedural limits on rate cases.

Reineke said the legislation is designed to “create a comprehensive, competitive electricity market, enhance grid reliability as our load growth demand increases, and keep energy affordable.” He framed the bill as a market-driven approach to spur new generation investment in Ohio to meet rising demand from industry and data centers.

The bill, as described by Reineke, would repeal Electric Security Plans (ESPs), require standard service offers to be market-rate, and prohibit distribution utilities from owning generation assets that were paid for by distribution customers or from bidding such assets into wholesale markets. Reineke also said the bill removes…