COLUMBUS, Ohio – Ohio regulators are proposing that companies get breaks on their electric bills for certain levels of new hiring and investment in the state.
Public Utilities Commission of Ohio spokeswoman, Beth Trombold, tells The Columbus Dispatch the plan is aimed at boosting jobs and economic development. It’s likely the rate cuts would mainly go to large businesses and that other electric customers would pay more.
Xenia Twp. Residents attended a public meeting with global building materials company, CEMEX, in force Tuesday night to voice concerns over the company's proposed mining project.
At the meeting, CEMEX officials stated the proposed zoning change and limestone mining would not negatively affect area residents. Officials added the rezoning from agricultural land to mineral extraction would be done with limited, licensed blasts and no blasting would take place closer than 500 feet from a home.
The state's advocate for residential utility customers says American Electric Power's proposed rate plan could raise next summer's rates for many Ohio customers by 31 percent.
The office of the Ohio Consumers' Counsel said Tuesday that the proposal would shift rates for generating electricity, leaving residential customers paying more in relation to commercial and industrial users. It argues instead for a uniform rate change across all categories.
Regional banking company Fifth Third Bancorp says its second-quarter earnings more than doubled as credit trends continued to improve.
The Cincinnati-based company reports net income of $328 million for April, May and June. That compares with earnings of $130 million in the same period a year ago. Some analysts expect earnings-per-share of 28 cents.
Fifth Third says it saw growth in mortgage banking, credit card and corporate banking revenue. They operate more than 1,300 banking centers in 12 states.