FirstEnergy Corp.
PacifiCorp
FERC rejected the formula rates and hypothetical cost structure proposed for the Valley Link portfolio of transmission projects but granted it incentives.
FirstEnergy
FirstEnergy reached an agreement with the Office of Ohio Attorney General and the Office of the Summit County Prosecutor to resolve all outstanding proceedings on the firm’s bribery scandal.
WKRC
Former PUCO Chair Sam Randazzo, who faced multiple criminal counts for taking millions in bribes from FirstEnergy, died by suicide, according to multiple news reports.
AES
AES and FirstEnergy asked the Maryland PSC to close the Warrior Run coal plant early, which would save consumers money while furthering climate change goals.
FirstEnergy
FirstEnergy reported that power deliveries for Q3 were flat, with an uptick in industrial demand offsetting a decline in residential and commercial demand.
FirstEnergy
FirstEnergy abruptly replaced CEO Steven Strah with the chair of its board of directors, John W. Somerhalder II, citing the former's “decision to retire.”
DangApricot, CC BY-SA-3.0, via Wikimedia
The FirstEnergy board of directors told the SEC that it had formed a “special review committee” to assess the performance of current top executives.
DangApricot, CC BY-SA-3.0, via Wikimedia
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.
FirstEnergy
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.
DangApricot, CC BY-SA-3.0, via Wikimedia
A FERC audit of FirstEnergy found numerous instances of misallocated costs that may have been passed through to customers.
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