Ohio utilities look to re-regulate market with plant subsidies under FERC scrutiny
- American Electric Power and FirstEnergy will likely turn to the Ohio legislature to save older generation, pressing for the state to re-regulate its power markets after 15 years of competition, following federal regulators taking steps to block recent power contracts.
- The Federal Energy Regulatory last week withdrew affiliate waivers that enabled power purchase agreements approved by Ohio regulators last month, and agreed to place the deals under enhanced scrutiny.AEP and FirstEnergy had asked Ohio to guarantee income for a group of seven coal plants and one nuclear plant through eight-year power purchase agreements.
- Midwest Energy News reports the legislation has been introduced in the Ohio Senate that would press customers to purchase power from the utilities, though activists are already calling foul.
“At the same time, we will also advocate for legislation in Ohio that would re-regulate generation in the state or provide a mechanism for AEP Ohio to own and develop generation assets, including the plants included in the PPA and renewables,” McHenry added.
- Midwest Energy News With ‘bailouts’ under federal scrutiny, Ohio utilities look to legislature
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