The Ohio House Public Utilities Committee heard competing testimony yesterday as it considers a bill to prop up two coal plants run by Ohio Valley Electric Corp. (OVEC), which is owned by a group of utilities from across the state.
American Electric Power, which owns the largest share of OVEC, is a major supporter of the legislation though the utility is already receiving support for its share of the plants’ output. A representative from the company said the subsidy would be a “stable cost-based hedge against volatile market prices” for the state’s consumers.
