Ohio’s Supreme Court has a message for utilities: If you over-earn, you can’t stash it in a “smart grid” piggy bank. You have to give it back. (CNO)
The court ruled that PUCO overstepped when it let Dayton Power & Light keep $61.1M in 2018-19 excess profits to fund a $268M grid modernization plan. State law requires “significantly excessive earnings” to be refunded directly to customers, no offsets allowed.