Tuesday, Governor Mike DeWine signed HB6 to bailout the Davis Besse nuclear power plant at the cost to Ohio taxpayers of $170-million per year. A tax, or surcharge, of approximately 85-cents will be added to consumer power bills in order to pay for the government subsidy of two First Energy power plants. Portions of this new utility tax will also help fund larger-scale solar projects in the state. The Scott Sands Show talked about HB6 and its effects with Greg Lawson of The Buckeye Institute -- click here to listen on our free iHeartRadio app.
The bill purports to lower utility bills by removing government mandates for energy efficiency and renewable energy sources. The subsidy payments to bailout Davis Besse in Ottawa County and the Perry nuclear plant in near Cleveland officially starts in 2021. First Energy told lawmakers both plants would close within two years unless the government intervened. The natural gas industry plans efforts to overturn this legislation in a statewide referendum next year.