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 specifically for natural gas companies serving large load customers, allowing these companies to propose test periods of up to twenty-four months prior to the application date. The bill also establishes new sections that set criteria for settlements in proceedings before the public utilities commission, ensuring that these settlements are reasonable and lawful. Additionally, it emphasizes the need for detailed valuation reports and modifies the process for determining utility rates, including the removal of certain interest payment deductions during test periods and the normalization of tax accounting methods.

Moreover, the bill includes provisions for regulatory exemptions for natural gas companies regarding investments in storage or gathering facilities made after January 1, 2010, while ensuring that the commission evaluates these investments for necessary adjustments to gross annual revenues. It also clarifies the application process for public utilities seeking to amend services or regulations, requiring detailed financial information for rate increase applications. The bill aims to streamline the regulatory framework while maintaining oversight and consumer protection, ensuring that non-large load customers are shielded from financial risks associated with infrastructure costs. Existing sections of the Revised Code related to public utilities are repealed to further simplify the regulatory landscape.

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