OH HB142

Natural gas companies may use fully or partially projected test periods of up to 24 months for rate cases, with multiple "dates certain" for property valuation adjustments, allowing rates to be set based on forecasted costs rather than only historical data

Reduces the timeline for Public Utilities Commission decisions on rate increase applications from 545 days to 365 days, after which the utility's proposed rates are automatically approved by operation of law

Creates alternative rate plans for natural gas companies to serve "large load customers" (those consuming over 1.2 million Mcf annually), with commercial agreements that must protect non-large load customers from financial risk and provide credits to infrastructure development riders

Establishes automatic approval mechanisms for various natural gas company filings: alternative rate plan applications deemed approved after 90 days without commission action, and commercial agreements with large load customers approved after 45 days unless found inconsistent with requirements

Allows natural gas companies to recover costs for compliance with federal or state regulatory mandates through alternative rate plans, with applications deemed approved after 365 days if no commission order is issued