Ohio § 4928.235

§ 4928.235.

(A)(1) A final financing order shall remain in effect until the phase-in-recovery bonds

issued under the final financing order and all financing costs related to the bonds

have been paid in full. (2) A final financing order shall remain in effect and unabated notwithstanding the bankruptcy,

reorganization, or insolvency of the electric distribution utility or any affiliate

of the electric distribution utility or the commencement of any judicial or nonjudicial

proceeding on the final financing order. (B) A final financing order is irrevocable and the public utilities commission may not

reduce, impair, postpone, or terminate the phase-in-recovery charges authorized in

the final financing order or impair the property or the collection or recovery of

phase-in costs. (C)(1) Except as provided in division (C)(2) of this section, under a final financing order,

the electric distribution utility retains sole discretion regarding whether to assign,

sell, or otherwise transfer phase-in-recovery property, or to cause phase-in-recovery

bonds to be issued, including the right to defer or postpone such assignment, sale,

transfer, or issuance. (2) Subsequent to a financing order being issued or becoming final and taking effect,

but before phase-in-recovery bonds have been issued, if market conditions are such

that customers will not realize cost savings from the issuance of the phase-in-recovery

bonds, the electric distribution utility shall not proceed with the securitization

under the issued or final financing order.