AEP / Energy / FirstEnergy / Ohio Utility Bailouts

Deregulation shaved $15 billion from Ohio electric bills, lawmakers to meet Friday to re-regulate

The Northeast Ohio Public Energy Council, or NOPEC, has negotiated a contract with a NextEra Energy wholesale power company to supply about 500,0000 Northeast Ohio electric customers in 13 counties. NextEra, based in Florida, will replace FirstEnergy Solutions on Jan. 1. NOPEC is a consortium of more than 100 communities. (credit: Plain Dealer file)

CLEVELAND, Ohio — Consumers, businesses and industries saved $15 billion on electricity between 2011 and last year and are on course to save the same amount by 2020, the Northeast Ohio Public Energy Council, or NOPEC, said today.

The claim is based on joint research and statistical analysis completed for NOPEC by Cleveland State University’s Maxine Goodman Levin College of Urban Affairs and Ohio State University’s John Glenn College of Public Affairs.

But those savings, thanks to deregulation, could end soon.

…In releasing the results of the study, Chuck Keiper, NOPEC’s executive director said the CSU-OSU analysis shows that deregulation has kept prices lower than they would have been under traditional regulation.

‘The study will illustrate, with hard facts and numbers, that deregulation is the driving force behind the relatively low cost of electricity in Ohio,’ Keiper said.

‘Deregulation has been a gift to Ohio consumers that has given us billions of dollars in savings, and it’s a gift that will keep giving for years to come.’

NOPEC serves about 500,000 customers. It has recently changed its power supplier to NextEra Energy, a subsidiary of Florida-based FP&L.”

— John Funk, Cleveland Plain Dealer

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