The FirstEnergy board of directors told the SEC that it had formed a “special review committee” to assess the performance of current top executives.

FirstEnergy reported first-quarter adjusted earnings of $288 million ($0.51/share) on revenue of $3 billion, down 18% from the first quarter of 2021.

Under a settlement with shareholders, six members of FirstEnergy’s board of directors would not seek re-election at the company’s annual meeting in May.

A FERC audit of FirstEnergy found numerous instances of misallocated costs that may have been passed through to customers.

Illinois is decarbonizing its electric generation, and Minnesota is focusing on EVs and transit emissions, but Ohio is keeping a coal plant subsidy.

A federal judge in Ohio approved of legal fees of more than $65 million and expenses totaling $2.7 million in the FirstEnergy Solutions bankruptcy case.

FirstEnergy could announce within weeks the sale of a minority interest — as much as 20% — in its 24,000 mile transmission system.

A U.S. bankruptcy court has again delayed the final payment of a legal bill that Akin Gump charged FirstEnergy Solutions in its restructuring case.

Affidavits filed in U.S. bankruptcy court reveal Akin Gump helped FirstEnergy win passage of Ohio HB 6, but they denied knowledge of any illegal activity.

FirstEnergy expects to sell interests in its distribution or transmission assets to raise capital following the Ohio House Bill 6 scandal.