House committee holds hearing on repeal of bailout law

COLUMBUS, Ohio — The alleged corruption that led to passage of a nuclear plant bailout law and questions about whether the bailout was financially necessary demand the law’s immediate repeal and replacement, Democratic and Republican lawmakers testified Thursday. Supporters of the energy policy contained within the law who worry a repeal throws the baby “out with the bath water” overlook the enormous problems with the law, said Rep. Laura Lanese. “And once you have mud, you can’t cleanly separate the dirt from the water and still have confidence you got rid of all the dirt.” At issue is the law passed last year and known as HB6, which would add a fee to every electricity bill in the state and direct over $150 million a year, through 2026, to the nuclear plants near Cleveland and Toledo. While FirstEnergy and its executives have denied wrongdoing and have not been criminally charged, federal investigators say the company secretly funneled millions to secure a $1 billion legislative bailout for two unprofitable Ohio nuclear plants then operated by an independently controlled subsidiary called FirstEnergy Solutions. Newly elected House Speaker Bob Cupp and Republican committee chairperson Rep. Jim Hoops have promised a deliberate approach to the repeal but one which won’t replicate the hours of testimony that led to the energy bailout.