Ohio Code § 4928.237

§ 4928.237.

(A) The public utilities commission, in exercising the commission's powers and carrying

out the commission's duties regarding regulation and ratemaking, may not do any of

the following: (1) Consider phase-in-recovery bonds issued under a final financing order to be the debt

of the electric distribution utility subject to the final financing order; (2) Consider the phase-in-recovery charges imposed, charged, or collected under the final

financing order to be revenue of the electric distribution utility; (3) Consider the phase-in costs or financing costs authorized under the final financing

order to be the costs of the electric distribution utility. (B) The commission may not order or otherwise require, directly or indirectly, any electric

distribution utility to use phase-in-recovery bonds to finance the recovery of phase-in

costs. (C) The commission may not refuse to allow the recovery of phase-in costs solely because

the electric distribution utility has elected or may elect to finance those costs

through a financing mechanism other than the issuance of phase-in-recovery bonds. If the electric distribution utility elects not to finance those costs through the

issuance of phase-in-recovery bonds as authorized in the final financing order, those

costs shall be recovered as authorized by the commission prior to the application

for the financing order.