A recent report by the Energy and Policy Institute reveals the corrupt practices of Akron-based FirstEnergy as it sought a multibillion-dollar bailout in Ohio. The company funneled $61 million through dark money groups to pass a ratepayer bailout and protect it from public opposition. Former Ohio House Speaker Larry Householder and others were implicated in what has been deemed one of Ohio’s biggest bribery scandals.
FirstEnergy’s leadership sought bailouts to prop up their coal and nuclear plants, which had become uncompetitive due to the rise of natural gas and renewable energy sources. They invested in Trump-aligned groups and hotels, hoping to gain favor with the former president for federal relief for their struggling plants.
Efforts to secure federal subsidies for their failing plants were ultimately rejected by regulators, leading to the passage of House Bill 6 in Ohio. Governor Mike DeWine and other state officials played a role in passing the bailout, which has been criticized for its lack of transparency and potential for corruption.
FirstEnergy has since entered into a deferred prosecution agreement with the Justice Department, paid a fine, and fired top executives involved in the scandal. The company claims to have implemented new ethical standards and a culture of accountability.
While FirstEnergy spokeswoman Jennifer Young declined to comment on specific questions regarding the company’s actions, she highlighted the company’s adoption of a new Political & Public Engagement Policy grounded in integrity and transparency. The company states that it has taken significant steps to move forward and put past issues behind them, emphasizing a commitment to ethics and accountability.
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Photo credit ohiocapitaljournal.com
