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Compliance Notes - Vol 4, Issue 4 - - United States

Welcome to Compliance Notes from Nossaman's Government Relations & Regulation Group – a periodic digest of the headlines, statutory and regulatory changes and court cases involving campaign.

Exec: Utility bled cash before alleged Ohio speaker bribes

CINCINNATI (AP) An arm of FirstEnergy Corp. was “bleeding cash” as it explored options for the two aging nuclear plants eventually rescued by Ohio House legislation that federal prosecutors say former Speaker Larry Householder championed in exchange for corporate bribes, a utility executive testified Tuesday.

Exec: Utility bled cash before alleged Ohio speaker bribes

A FirstEnergy Corp. executive says an arm of the utility was “bleeding cash” as it explored options for two aging nuclear plants eventually rescued by Ohio House legislation at the center of former Ohio House Speaker Larry Householder's corruption trial. Federal prosecutors allege Householder championed the bill in exchange for FirstEnergy bribes. Steven Staub is the company's treasurer. He told jurors Tuesday that power prices had gotten so low in the years leading up to the bill’s passage that the plants couldn’t cover costs. Householder and lobbyist and former Ohio Republican chair Matt Borges are on trial in U.S. District Court in Cincinnati.

Exec: Utility bled cash before alleged Ohio speaker bribes

Exec: Utility bled cash before alleged Ohio speaker bribes
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Exec: Utility bled cash before alleged Ohio speaker bribes

Exec: Utility bled cash before alleged Ohio speaker bribes
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