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Bill That Would Impact Retail Energy Markets Advances
The Ohio legislature advanced HB15 and SB2 out of their respective chambers on March 26, with significant overlap between the two bills focused on significant and far-reaching changes to the state’s energy policy framework.
Follow both bills because further modifications and negotiations are expected.
Among other things the legislation: (1) requires an electric utility’s standard service offer (SSO) to be established only as a market-rate offer (MRO) by eliminating the electric security plan (ESP) option and making the MRO mandatory; (2) prohibits electric utilities from owning generation (directly impacting the multi-utility-owned Ohio Valley Energy Company); (3) directs the PUCO to establish financial assurance standards for electric and gas suppliers while repealing the existing performance bond requirement for gas suppliers; (4) requires a retail supplier that offers certain customers a contract for a fixed introductory rate that converts to a variable rate to send two notices containing certain information regarding the conversion to affected customers; and (5) allows enroll-by-wallet for retail customers.
