API Ohio: Picking winners and losers in energy markets hurts consumers

COLUMBUS, Ohio – April 6, 2017 – API Ohio Executive Director Chris Zeigler strongly criticized new legislation filed in the Ohio State Senate (Senate Bill SB. 128) that would subsidize nuclear power companies at the expense of Ohioans.

“When the government picks winners and losers in the energy markets, Ohio consumers pay the price,” said Zeigler. “Thanks to electricity markets and affordable natural gas, since 2008 Ohio’s wholesale electricity prices have decreased almost 50 percent. Subsidizing nuclear power distorts the market, increases costs to Ohioans and disadvantages natural gas generation. If put in place, this misguided precedent may have a chilling effect on Ohio’s ability to take full advantage of our state’s abundant reserves of clean-burning natural gas that have put Ohioans to work, and improved our state’s economy and environment. Moving forward, it’s critical that Statehouse leaders reject this imprudent legislation and focus on energy policies that benefit Ohioans, not hurt them.”

API Ohio is a division of API, which represents all segments of America’s oil and natural gas industry. Its more than 625 members include large integrated companies, as well as exploration and production, refining, marketing, pipeline, and marine businesses, and service and supply firms. They provide most of the nation’s energy and are backed by a growing grassroots movement of more than 40 million Americans.

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