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Ohio signs bill to incentivize clean energy, keep state nuclear reactors on
Investors - JULY 25, 2019

Ohio signs bill to incentivize clean energy, keep state nuclear reactors on

by Kali Persall

Ohio has signed a clean energy bill that will incentivize zero and reduced carbon emission generation and keep the state’s nuclear power plants in operation.

House Bill (HB6) was passed by the House of Representatives on Tuesday and it was signed into law by Governor Mike DeWine, according to media sources. The Ohio Senate previously passed the bill on July 17.

The law will provide clean energy credits to zero-emission power producers, including nuclear power plants, according to World Nuclear News. The bill will create the Ohio Clean Air Program, reducing customers’ electric utility bills and providing around $150 million per year to bankrupt Ohio power entity FirstEnergy Solutions to keep its two nuclear reactors in service.

FirstEnergy Solutions, part of FirstEnergy Corp., previously threatened to shut down the reactors unless it received financial assistance from the state.

The nuclear plants produce 90 percent of the state’s clean power, in addition to creating 4,300 job and contributing $30 million per year to state infrastructure projects.

The bill will also reportedly provide around $60 million to several coal plants throughout the state, with one stationed in Indiana.

“We all have a duty to be stewards of the environment,” said Ohio House of Representatives speaker Larry Householder in an April statement following the introduction of the bill. “We can all agree that we need to improve the quality of our air, water and ground. We must ensure these are as clean as practical and we leave our environment healthy for our children and grandchildren. This program will steer our state in the right energy and clean air direction for 11.6 million Ohioans.”

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