OH HB351

Amends section 4928.01 and repeals section 4928.148 of the Revised Code to eliminate nonbypassable cost recovery mechanisms associated with legacy generation resources (generating facilities owned by corporations formed before 1960 to provide power to the federal government, including Ohio Valley Electric Corporation).

Terminates any retail cost recovery mechanism authorized under section 4928.148 and prohibits revival or reinstitution of any cost recovery mechanism under section 4928.143 or other sections that was in effect on or before the effective date of HB 6 of the 133rd General Assembly.

Requires utilities to promptly refund all revenues collected from customers through cost recovery mechanisms established under former section 4928.148, with refunds allocated to customer classes in the same proportion as originally collected.

Overrides section 4905.32 and other provisions in Title XLIX of the Revised Code to ensure full refund of collected revenues to affected customers.