Companies that buy utilities at wholesale cost and resell for a profit to multifamily properties should have limits on price markups, says state Representative Mike Duffey (R-Worthington), so he is co-sponsoring a bill to that effect, according to a recent article in The Columbus Dispatch. Duffey calls the bill a compromise, noting that consumer advocates want to ban markups, while the companies that manage utility delivery for apartment residents want “as few limits as possible.” According to the article, “Ohio is one of the few states that allow companies to buy utilities…at wholesale prices and then resell them for a profit that can exceed what tenants would have paid if they had been charged regulated prices.” HB 662, also co-sponsored by state Representative Ross McGregor (R-Springfield), would bar submeter companies from “selling utilities for more than the regulated prices in the community where a property is located” and require them to “disclose the utility rates that they are charging and show how this compares with regulated rates,” among other provisions. For more, read the full article