API Ohio: Let the markets work to protect consumers, reject nuclear subsidies
COLUMBUS, Ohio – May 9, 2017 – API Ohio highlighted the dangers of skewing the energy markets with subsidies for nuclear power on Tuesday.
“Instead of providing bailouts to uneconomic nuclear power plants, we should let the energy markets work to protect consumers,” said Executive Director Chris Zeigler. “The fact is H.B. 178 would raise significant costs to consumers throughout the state. Moving forward, it’s important to embrace the U.S. energy renaissance that has brought benefits to consumers throughout Ohio and not hurt it by picking winners and losers in the energy markets.”
Zeigler was joined by API Chief Economist Erica Bowman to express concern over nuclear subsidies. Bowman delivered testimony today before the Ohio House Public Utilities Committee in opposition to H.B. 178, legislation that would subsidize nuclear power.
“We believe consumers benefit most when markets are allowed to flourish without mandates, riders and special treatment by lawmakers and regulators,” said Bowman. “H.B. 178 would skew the energy markets by propping up uncompetitive nuclear generation, increase costs for ratepayers, and deny Ohioans the economic and environmental benefits of natural gas.”
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.