3706.40 Definitions for sections 3706.40 to 3706.65.

As used in sections 3706.40 to 3706.65 of the Revised Code:

(A) "Qualifying nuclear resource" means an electric generating facility in this state fueled by nuclear power.

(B) "Qualifying renewable resource" means an electric generating facility in this state to which all of the following apply:

(1) The facility uses or will use solar energy as the primary energy source.

(2) The facility obtained a certificate for construction of a major utility facility from the power siting board prior to June 1, 2019.

(3) The facility is interconnected with the transmission grid that is subject to the operational control of PJM interconnection, L.L.C., or its successor organization.

(C) "Credit price adjustment" means a reduction to the price for each nuclear resource credit equal to the market price index minus the strike price.

(D) "Strike price" means forty-six dollars per megawatt hour.

(E) "Market price index" means the sum, expressed in dollars per megawatt hour, of both of the following for the upcoming twelve-month period that begins the first day of June and ends the thirty-first day of May:

(1) Projected energy prices, determined using futures contracts for the PJM AEP-Dayton hub;

(2) Projected capacity prices, determined using PJM's rest-of-RTO market clearing price.

(F) "Electric distribution utility" has the same meaning as in section 4928.01 of the Revised Code.


Added by 133rd General Assembly File No. TBD, HB 6, §1, eff. 10/22/2019.