The bill, introduced by Representatives Dovilla and Fischer, seeks to amend various sections of the Revised Code concerning the regulation of natural gas companies and the valuation of their property. It introduces alternative rate plans for natural gas companies serving large load customers, allowing these companies to propose test periods of up to twenty-four months for annual rider rate adjustments. The bill mandates that the public utilities commission consider settlements in proceedings only if the public utility is a signatory party or has filed a notice of non-opposition, ensuring that any settlement is reasonable and lawful based on criteria such as benefits to ratepayers. Additionally, it specifies that tax credits for Ohio coal must be returned to customers within three years through rate adjustments.

Moreover, the bill amends existing regulations regarding public utility rates, removing the requirement for utilities to deduct certain interest payments during the test period and allowing for the normalization method of accounting for taxes. It establishes timelines for the commission to issue orders and requires utilities to submit adjustments based on actual revenues and expenses. The bill also introduces regulatory exemptions for natural gas companies, allowing them to bypass certain regulations for investments in storage or gathering facilities, while emphasizing the need for separate accounting practices for exempted services. Key insertions clarify the conditions for applications and exemptions, while deletions streamline the language regarding timelines and obligations related to rate increases.

Statutes affected:
As Introduced: 4909.05, 4909.06, 4909.07, 4909.08, 4909.15, 4909.155, 4909.156, 4909.18, 4909.191, 4909.42, 4928.18, 4929.041