Columbus - 
State Senator Troy Balderson (R - Zanesville) presented sponsor testimony today before the Senate Energy and Public Utilities Committee regarding his work to establish standards for the securitization of costs for utility companies distributing electricity. Senate Bill 248 is intended to create a framework that would allow an electric distribution utility to issue phase-in recovery bonds to replace their current use of higher-interest debt. By allowing companies to group together the debt on which they pay, they will then be able to obtain lower interest rates. "Lower borrowing costs for electric companies will result in lower utility rates for consumers," Balderson said. "This is one step that we can take to stabilize electric bills for our constituents." The Zanesville legislator went on to note that the bill explicitly states that the State of Ohio is not assuming responsibility for the securitized bonds and that 19 other states have already passed similar legislation in hopes of reigning in consumer costs.
Senator Balderson represents the 20th Senate District of Ohio, which is made up of Athens, Coshocton, Guernsey, Meigs, Monroe, Morgan, Muskingum, Noble, and Washington Counties
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