Associated Press
The Environmental Defense Fund says it is confident that federal regulators and the courts will not let agreements raising rates on Ohio electricity customers stand.
In a statement Thursday, the national group said the deals “keep outdated, inefficient power plants afloat for the next eight years at an estimated cost of $6 billion to Ohio customers.”
State regulators approved two closely watched energy deals allowing two utility companies to impose short-term rate increases on electricity customers to subsidize some older coal-fired and nuclear power plants. The Public Utilities Commission of Ohio took a single combined vote yesterday on the power purchase agreements, which Akron-based FirstEnergy and Columbus-based AEP filed separately.
Chairman Andre Porter said in remarks ahead of the vote that the deals were amended to stabilize customer bills and ensure the end result is in the best interests of customers.