Ohio Code 4928.61 – Energy efficiency revolving loan fund
(A) There is hereby established in the state treasury the advanced energy fund, into which shall be deposited all advanced energy revenues remitted to the director of development under division (B) of this section, for the exclusive purposes of funding the advanced energy program created under section 4928.62 of the Revised Code and paying the program’s administrative costs. Interest on the fund shall be credited to the fund.
Terms Used In Ohio Code 4928.61
- Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.
- Competitive retail electric service: means a component of retail electric service that is competitive as provided under division (B) of this section. See Ohio Code 4928.01
- Electric cooperative: means a not-for-profit electric light company that both is or has been financed in whole or in part under the "Rural Electrification Act of 1936" 49 Stat. See Ohio Code 4928.01
- Electric distribution utility: means an electric utility that supplies at least retail electric distribution service. See Ohio Code 4928.01
- Electric utility: means an electric light company that has a certified territory and is engaged on a for-profit basis either in the business of supplying a noncompetitive retail electric service in this state or in the businesses of supplying both a noncompetitive and a competitive retail electric service in this state. See Ohio Code 4928.01
- Municipal electric utility: means a municipal corporation that owns or operates facilities to generate, transmit, or distribute electricity. See Ohio Code 4928.01
- state: means the state of Ohio. See Ohio Code 1.59
(B) Advanced energy revenues shall include all of the following:
(1) Revenues remitted to the director after collection by each electric distribution utility in this state of a temporary rider on retail electric distribution service rates as such rates are determined by the public utilities commission pursuant to this chapter. The rider shall be a uniform amount statewide, determined by the director of development, after consultation with the public benefits advisory board created by section 4928.58 of the Revised Code. The amount shall be determined by dividing an aggregate revenue target for a given year as determined by the director, after consultation with the advisory board, by the number of customers of electric distribution utilities in this state in the prior year. Such aggregate revenue target shall not exceed more than fifteen million dollars in any year through 2005 and shall not exceed more than five million dollars in any year after 2005. The rider shall be imposed beginning on the effective date of the amendment of this section by Sub. H.B. 251 of the 126th general assembly, January 4, 2007, and shall terminate at the end of ten years following the starting date of competitive retail electric service or until the advanced energy fund, including interest, reaches one hundred million dollars, whichever is first.
(2) Revenues from payments, repayments, and collections under the advanced energy program and from program income;
(3) Revenues remitted to the director after collection by a municipal electric utility or electric cooperative in this state upon the utility’s or cooperative’s decision to participate in the advanced energy fund;
(4) Revenues from renewable energy compliance payments as provided under division (C)(2) of section 4928.64 of the Revised Code;
(5) Revenue from forfeitures under division (C) of section 4928.66 of the Revised Code;
(6) Funds transferred pursuant to division (B) of Section 512.10 of S.B. 315 of the 129th general assembly;
(7) Interest earnings on the advanced energy fund.
(C)(1) Each electric distribution utility in this state shall remit to the director on a quarterly basis the revenues described in divisions (B)(1) and (2) of this section. Such remittances shall occur within thirty days after the end of each calendar quarter.
(2) Each participating electric cooperative and participating municipal electric utility shall remit to the director on a quarterly basis the revenues described in division (B)(3) of this section. Such remittances shall occur within thirty days after the end of each calendar quarter. For the purpose of division (B)(3) of this section, the participation of an electric cooperative or municipal electric utility in the energy efficiency revolving loan program as it existed immediately prior to the effective date of the amendment of this section by Sub. H.B. 251 of the 126th general assembly, January 4, 2007, does not constitute a decision to participate in the advanced energy fund under this section as so amended.
(3) All remittances under divisions (C)(1) and (2) of this section shall continue only until the end of ten years following the starting date of competitive retail electric service or until the advanced energy fund, including interest, reaches one hundred million dollars, whichever is first.
(D) Any moneys collected in rates for non-low-income customer energy efficiency programs, as of October 5, 1999, and not contributed to the energy efficiency revolving loan fund authorized under this section prior to the effective date of its amendment by Sub. H.B. 251 of the 126th general assembly, January 4, 2007, shall be used to continue to fund cost-effective, residential energy efficiency programs, be contributed into the universal service fund as a supplement to that required under section 4928.53 of the Revised Code, or be returned to ratepayers in the form of a rate reduction at the option of the affected electric distribution utility.