AEP Concerned About Energy Bill's Impact On Renewable, Efficiency Programs
One of Ohio’s largest electric companies, AEP, is weighing in on the bill that would create credits for energy sources that do not produce carbon emissions while also eliminating an existing fee on ratepayers.
The proposed legislation would likely bailout the state’s two nuclear plants while also tossing out the requirements that utility companies invest in renewable energy and energy efficiency.
AEP’s Tom Froehle says his company has spent years following these standards and urges that the energy bill honor their current contracts and programs, which he says have saved customers $1 billion.
From there, Froehle says AEP likes the bill.
“If done right, the bill will go down some but the benefit is that you’re finally getting investment in Ohio in clean air,” says Froehle.
New fees in the legislation would create a $300 million fund from – more than half would go to the nuclear plants, with the rest to renewable sources.