The Ohio Senate unanimously approved House Bill 15, aiming to reform the state’s energy policy to meet modern demands. The bill, which aligns closely with previous legislation, Senate Bill 2, seeks to ensure reliable and affordable energy across Ohio. Senator Mark Romanchuk, a key supporter of the bill, stated, “Updating Ohio’s energy policy for the modern age establishes our state as a strong and reliable energy partner for years to come.” He emphasized the benefits of “eliminating riders placed on consumers while increasing power generation” to attract industries.
House Bill 15 emphasizes projects that produce baseload power, crucial for daily energy needs in homes and businesses. It also encourages industries to self-generate power to alleviate grid pressure.
Key provisions from Senate Bill 2 remain in House Bill 15. These include a reduction of approximately 67% in the tangible personal property tax on new electricity generation projects starting in Tax Year 2027. The legislation eliminates Electric Security Plans, known as “riders,” which allowed additional charges to consumers. A new rate-setting process will require utility companies to disclose financials to the Public Utility Commission every three years before rate hikes. This move aims to increase consumer accountability.
Furthermore, the bill abolishes all ratepayer subsidies for power generation. The next step is for Governor DeWine to sign the bill into law.
