Bill in Ohio House would permanently subsidize 2 coal-fired power plants

A new proposal in the Ohio House would provide a perpetual subsidy for two coal-fired power plants owned jointly by American Electric Power and just about every other major electricity utility in the state. House Bill 239 calls for the owners of Ohio Valley Electric Corp. to receive a guarantee of income at times when the market price of electricity is less than the cost to operate the power plants. That money would come from a charge to consumers.The Public Utilities Commission of Ohio already has approved a similar plan for AEP, which leads to a varying monthly charge that is now about $2 per month for a typical household.The legislation would take the PUCO’s action, which needs to be re-approved every few years, and make it last for the remainder of the life of the plants — which could be decades. Also, the bill would provide benefits to all Ohio Valley Electric co-owners in the state, not just AEP.