The bill amends the Revised Code to authorize electric distribution utilities to construct, own, and operate nuclear generating facilities under specific conditions. It establishes the Ohio Nuclear Development Authority, which will appoint a State Nuclear Coordinator to advocate for nuclear energy within the state government, facilitate permitting processes, and engage with communities on nuclear education and infrastructure needs. The bill also introduces provisions for an efficient review of construction certificate applications, particularly for projects on brownfields or former coal mines that receive financial support from the government. Notably, if the Power Siting Board does not make a decision on an application within a specified timeframe, the application will be automatically approved.

Additionally, the bill modifies definitions related to electric utilities and introduces new provisions for the regulation and financing of nuclear facilities. It requires public utilities commission approval for any sale or transfer of a nuclear facility, ensuring that net proceeds benefit customers. The bill mandates that utilities maintain separate accounting for costs associated with nuclear facilities and undergo a prudence and financial audit every three years. It emphasizes compliance with environmental regulations and cultural resource protections while promoting the development of nuclear energy in Ohio, particularly in areas that address both energy needs and environmental concerns.

Statutes affected:
As Introduced: 4164.11, 4906.01, 4906.03, 4928.01, 4928.041