- Beginning January 1, 2001, residential customers will have the opportunity to choose among energy suppliers in a competitive environment. Consumers should begin to hear a great deal about the choices available to them during the last half of 2000. On a related note, most consumers will be able to choose their natural gas provider in the near future.
- Residential electric bills will be reduced by a mandated 5% off the generation component (which amounts to about 2-3% off the total bill) beginning January 1, 2001. Customers will have the opportunity to save even more as they choose among various suppliers in the competitive marketplace.
- At the end of the transition period, those customers, who have not selected a new electric supplier or reaffirmed their current provider, can participate in a process called "competitive bidding," which will allow them to achieve the lowest price possible. During this process, certified suppliers will be allowed to bid upon groups of customers, and the supplier offering the lowest cost for electric service will be awarded the opportunity to serve those customers.
- There will be an end to "stranded cost" recovery. Under the current law, the cost of a utility company's financial investments, such as nuclear powered plants, are included in our rates. Consumers will stop paying these costs at the end of a utility company's determined transition period, at which time the competitive market for electric power should be fully developed and functioning, as it is intended.
- The OCC and the Public Utilities Commission of Ohio. will engage in cooperative agency efforts to educate Ohio consumers regarding electric industry restructuring. Electric utility companies will also be responsible for funding, in the amount of $32 million, consumer education efforts during the market development period.
- Communities, schools and other groups can pool together to form large-volume consuming groups and "aggregate" their needs to achieve the benefit of buying power at a lesser cost. In addition, the Director of Development is authorized to aggregate PIPP customers and accept bids for the supply of competitive retail electric generation service to certified bidders.
- In order to provide a competitive retail electric service to a consumer in Ohio, any electric company, electric services company, electric cooperative or a governmental aggregator must first be certified by the Public Utilities Commission of Ohio.
- Slamming, a fraudulent, practice that has been experienced by consumers in other industry areas, is prohibited by electric suppliers.
- Electric supplier codes of conduct and minimum electric service standards will be implemented, and must include provisions regarding: contract disclosure; service termination and disconnection; minimum content of customer bills; minimum service quality, safety, and reliability; generation resource mix and environmental characteristics of power supplies; and other customer information.
- The Public Utilities Commission of Ohio. will monitor mergers and energy supplier activities.
- Minimum service requirements for non-competitive services (i.e. transmission and distribution) of an electric utility must be established.
- A "consent-to service-of-process" requirement has been established to ensure that persons supplying competitive services in Ohio may be sued in Ohio courts should it prove necessary for a consumer to submit a grievance before the court.
- Low-income customer assistance programs (i.e. PIPP, HEAP, HWAP and the Ohio Energy Credit Programs) and the creation of a weatherization program targeted to low-income housing, and an energy efficiency revolving loan program will be consolidated under the jurisdiction of one agency, the Ohio Department of Development. A $100 million loan find will be established to address energy efficiency needs.
- Senate Bill 3 creates the Public Benefits Advisory Board to aid Ohio Department of Development in its efforts and will consist of 21 members, one of whom is the OCC, acting as an ex officio member. This board shall ensure that energy services are provided to low-income consumers in an affordable manner consistent with the state policy.