Ohio House to offer energy plan

COLUMBUS (AP) — The Ohio House has finalized a long-awaited energy plan to restructure the electricity industry and increase renewable energy investments in the state.

House Speaker Jon Husted released the plan Thursday and hopes it will be up for a vote next week. The Senate passed its own plan months ago, but it has been stalled in the House.

Husted acknowledges that energy prices are likely to rise in coming years because of challenges in the global energy market. But he says his bill will make sure customers can choose the lowest-cost option available to them.

The bill requires utilities to meet renewable energy requirements, such as power from wind or the sun, beginning next year. The requirement will increase each year after that until 2025, when it will reach 12.5 percent.

In Ohio, rate stabilization is scheduled to end this year, meaning customers will face a fully deregulated marketplace in 2009 without some type of legislative action.

The House Public Utilities Committee has played host to about 20 hearings on the energy legislation in recent months, listening to comments from proponents, opponents and other interested parties.

If approved, the substitute bill would require utility companies to file electric security plans with the Public Utilities Commission of Ohio — comparable to the current rate stabilization process that has been in effect in recent years.

Those choosing to do so, and which meet a list of objective criteria, also could pursue a market-rate offer, essentially offering electricity in a competitive marketplace.