Ohio Gov. Bob Taft signed the state’s electric restructuringbill Tuesday. All Ohio customers are to have a choice of suppliersbeginning Jan. 1, 2001. Beginning Jan. 1, 2001 consumers will enjoya mandatory rate reduction of 5% provided for in the bill and beable to purchase electricity from whichever company they choose.

“The same entrepreneurial drive which led Ohio-native ThomasEdison to master electricity will now drive the electricitymarketplace,” Taft said. “The bottom line is that competition willbring affordable energy prices for families and businesses. Ohiobusinesses will also remain competitive as more states deregulatetheir electric industry and our state will be on competitivefooting against states that seek to take our jobs.”

The Public Utilities Commission of Ohio (PUCO) will requireelectric companies to spend more than $30 million over the next sixyears informing the public on how to shop and understand themarket.

The legislation goes into affect 90 days from Tuesday.Additional details, such as the amount of “stranded cost” paymentsallowed to electric companies and specific implementation rules,will be worked out by the PUCO by Jan. 1, 2001.

Full, statewide competition in retail electric sales begins Jan.1, 2001. Between then and now, the PUCO will: draft and adopt rulesand regulations; accept required filings from Ohio’s eightinvestor-owned electric utilities to separate ratecomponents-generation, transmission and distribution-separatecorporate structure, and create operational support plans forcompetition; accept voluntary filings from electric utilities onplans to transfer either the ownership or control of transmissionto an independent third party prior to Dec. 31, 2003. The PUCO alsowill hold public hearings on the transition plans to be filed byelectric utility companies; adopt transition plans for each ofOhio’s investor owned utilities by October, 2000.

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