South Ohio News

The Ohio Senate has passed Senate Bill 2, a significant energy policy aimed at modernizing the state's power industry. State Senator Steve Wilson of Maineville supported the bill, emphasizing its importance for Ohio's future energy needs.

"Modernizing Ohio's energy policy is a great moment for our state," Senator Wilson stated. "As our energy needs increase, making sure that Ohio is able to meet the power generation required sets our state up for success for years to come."

The legislation prioritizes projects that generate baseload power to ensure daily energy demands are met across homes, businesses, and industries in Ohio. It also updates the state's tax structure related to energy production.

Senate Energy Chairman Brian Chavez highlighted Ohio's potential in contributing baseload power due to its access to clean natural gas. “Ohio is well positioned to contribute baseload power in part due to significant access to clean natural gas as a reliable and affordable fuel source,” he said. “Senate Bill 2 incentivizes new baseload generation projects by reducing the tangible personal property tax (TPP) on electricity generation project and the infrastructure associated with those projects.”

The bill aims to enhance consumer accountability by eliminating Electric Security Plans (ESPs), known as "riders," which have allowed additional charges without clear justification. The new approach favors a traditional rate case format requiring full financial disclosure before any rate increase approval.

Additionally, Senate Bill 2 introduces Priority Investment Areas (PIAs) for new power generation projects, focusing on revitalizing brownfields and decommissioned coal plant sites.