Ohio's FirstEnergy Nuclear Bailout Bill Could Undermine Funding for Renewables and Efficiency

[jpak]

https://www.greentechmedia.com/articles/read/ohios-firstenergy-nuclear-bailout-bill-could-also-undermine-renewables-effi#gs.59xaob

Ohio’s Republican-controlled legislature has drafted "clean air fund" legislation that would slash renewable energy and efficiency subsidies while adding about $300 million a year to electricity bills in the state, in the name of keeping its nuclear fleet from closing. The move diverges sharply from other state-level policies in the U.S. to prop up financially struggling nuclear power plants for their carbon-free electricity.

Last week, Energy News Network released draft legislation (PDF) being circulated by majority leaders in Ohio’s Republican-controlled House of Representatives, primarily aimed at rescuing two nuclear power plants — the Davis-Besse plant near Toledo and the Perry plant near Cleveland, which bankrupt utility FirstEnergy Solutions has threatened to close by 2021.

The draft bill would add a maximum surcharge of $2.50 per month to every residential customer’s bill, a $20 per month surcharge to every commercial customer’s bill and a $250 monthly charge to every industrial customer’s bill, to raise roughly $300 million a year.

Of that, about $180 million would go to subsidize FirstEnergy’s two nuclear plants, according to analysis reported by Energy News Network. The remaining $120 million would be available to resources that are deemed by the newly created board of political appointees to meet the fund’s criteria.

<more>