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Who's who in Ohio's largest public corruption case: the House Bill 6 nuclear bailout

FirstEnergy's push to defend House Bill 6 payments as 'contributions' appears to veer from corporate strategy

FirstEnergy’s push to defend House Bill 6 payments as ‘contributions’ appears to veer from corporate strategy © JOHN KUNTZ/The Plain Dealer CLEVELAND, Ohio – In the past seven months, FirstEnergy Corp. appeared to follow the playbook of how to move beyond a political scandal. It fired top executives, dropped its longtime lobbyists in Columbus and brought in a new ethics officer. It even studied its process of political giving. The company also said it was cooperating with the Justice Department over House Bill 6, a $1.3 billion bailout of two nuclear plants once owned by a subsidiary. Federal authorities have accused the utility and its affiliate of paying $60 million in bribes to then-Ohio House Speaker Larry Householder and a clique of allies to prime the legislative pump.

FirstEnergy's push to defend House Bill 6 payments as 'contributions' appears to veer from corporate strategy

FirstEnergy Looking To Make Deal With Federal Investigators

0:55 Steve Strah, FirstEnergy CEO, says the utility company is working on a possible deferred prosecution agreement with the U.S. Department of Justice. He told investors he didn t know details on timing or if it could avoid future consequences. I m encouraged by our dialogue and I m encouraged that we are certainly going to continue to fully cooperate with the department of justice and I just want to be fully respectful of that process and not get ahead of it at all, says Strah. FirstEnergy is believed to be the unnamed utility accused of funneling millions of dollars to a dark money group controlled by former House Speaker Larry House to get a nuclear bailout passed.

FirstEnergy Corp (FE) Q1 2021 Earnings Call Transcript

Greetings and welcome to the FirstEnergy Corp First Quarter 2021 Earnings Conference Call. [Operator Instructions] It s now my pleasure to introduce your host, Irene Prezelj, Vice President, Investor Relations for FirstEnergy Corp. Thank you. Ms. Prezelj, you may begin. Irene M. Prezelj Thank you. Good morning everyone and welcome to our first quarter earnings call. Today we will make various forward-looking statements regarding revenues, earnings, performance, strategies, prospects and other matters. These statements are based on current expectations and are subject to risks and uncertainties. Factors that could cause actual results to differ materially from those indicated by these statements can be found on the Investors section of our website under the Earnings Information link and in our SEC filings.