To enact section 4933.29 of the Revised Code to restore discounts for customers using electricity to heat their homes and for electric, load-management programs, to specify that these discounts run with the land and may be transferred, to provide for refunds to customers whose rate discounts were modified or discontinued, and to declare an emergency.

Section 1. That section 4933.29 of the Revised Code be enacted to read as follows:

Sec. 4933.29. (A) As used in this section:

(1) "Dual fuel heating program" means a program under which an electric light company provides an incentive, including a discounted rate, for a customer to use a heating system that operates on both electricity and gas, the electric portion of which may be controlled by the company.

(2) "Electric light company" has the same meaning as in section 4905.03 of the Revised Code.

(3) "Load management water heating program" means a program under which an electric light company provides an incentive, including a discounted rate, for a customer to use an electric water heater that may be controlled by the company.

(B) Every electric light company that modified or discontinued, between December 31, 2006 and the effective date of this section, discounts for residential customers using electricity to heat their homes shall restore in full all such modified or discontinued discounts to the discount amounts at the time of the modification or discontinuance.

(C) Every electric light company that modified or discontinued, between December 31, 2006 and the effective date of this section, any dual fuel heating program or any load management water heating program shall restore in full any such modified or discontinued program.

(D) Every electric light company shall permanently maintain the following after the effective date of this section:

(1) The ratio of the discounted rates for its residential customers that use electricity to heat their homes to the rates for its other customers;

(2) The ratio of the discounted rates for a dual fuel heating program or load management water heating program to the rates for its other customers.

(E) The discounted rates for using electricity for home heating, and discounted rates for dual fuel heating programs and load management water heating programs restored by an electric light company under divisions (B) and (C) of this section shall run with the land. Any current or future resident of the property, for which a customer who previously resided at the property received an electric light company rate discount pursuant to divisions (B) and (C) of this section, shall receive the discounted rate from the electric light company. Customers that built or converted homes to use electricity for home heating after December 31, 2006, but prior to the effective date of this section, also shall receive the discounted rate restored under those divisions.

(F) The electric light company shall refund the amount in excess of the discounted rate under divisions (B) and (C) of this section that was paid by a customer after the modification or discontinuance of the discounted rate. The public utilities commission shall determine how refunds pursuant to this section shall be made.

Section 2. This act is hereby declared to be an emergency measure necessary for the immediate preservation of the public peace, health, and safety. The reason for such necessity is that electric-utility customers are experiencing sudden, drastic increases in electricity rates. Therefore, this act shall go into immediate effect.