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Utilities warn SB2's repeal of ESPs and retroactive refund authority could chill investment
Summary
AEP Ohio, AES Ohio and Duke Energy told the Senate Energy Committee that eliminating electric security plans and allowing retroactive refunds would create legal and financial uncertainty and could reduce utilities' ability to invest in reliability.
Multiple large utilities testified in opposition to provisions in Substitute Senate Bill 2 that would eliminate electric security plans (ESPs) and allow retroactive refunds of approved charges. Witnesses described ESP riders as a routine, auditable mechanism that funds timely grid investments between base rate cases.
Mark Ryder, president and COO of AEP Ohio, told the committee that riders "require the utility to justify every dollar of our investment plan" and…
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