HB 6 Updates: FirstEnergy Fights for Riders and Rate Hike in Ohio
FirstEnergy is back in the news with some updates on their ongoing legal battles and regulatory issues surrounding House Bill 6, Ohio’s nuclear and coal bailout law. The company is hoping to replace its current rider package with an older one from 2016, despite objections from critics who claim this older plan was influenced by a shady side deal.
Recent developments include witnesses invoking the Fifth Amendment to avoid answering questions in regulatory cases, former FirstEnergy executives claiming they can’t be considered victims, and even suggestions that a potential Trump pardon might be in the cards for one individual.
FirstEnergy’s request to switch back to the 2016 plan comes at a time when the Public Utilities Commission of Ohio made changes to their current rider package earlier this year. They contested these changes and chose to go back to the old plan without a freeze on base electric rates. This move emphasizes an ongoing power struggle between Ohio regulators and electric utilities, where the utility can opt-out of changes made by state entities.
While FirstEnergy sought for reconsideration in June, the PUCO did not respond within the required 30 days. Subsequently, the company filed a notice to backtrack to the old plan on October 29. However, critics argue that this move is untimely and urge the PUCO to reject reinstating the tainted 2016 plan.
The older plan is tied to a secretive arrangement involving FirstEnergy and Sam Randazzo, which has been under scrutiny since 2015. Allegations suggest that payments were made to influence objections raised by Randazzo’s client, intertwining regulatory decisions with undisclosed financial agreements. The PUCO launched an investigation after revelations of these dealings, which have caused widespread skepticism among consumer advocates.
With ongoing legal battles and investigations, the resolution of the rider package issue is yet to be determined. Stay updated on this unfolding story as more information comes to light in the coming weeks.
