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Diverting funds
In the past few weeks, FirstEnergy, JCP&L, and its 13 other utilities acknowledged in filings with the Federal Energy Regulatory Commission that money was improperly collected from those companies and diverted to the parent company.
JCP&L detailed parts of its internal investigation in those filings.
“FirstEnergy recently identified certain transactions, which, in some instances, extended 10 or more years, including vendor service that were improperly classified, misallocated to FirstEnergy utility and transmission companies or lacked proper documentation. These transactions resulted in amounts collected from customers that were immaterial to FirstEnergy and JCP&L,’’ the filing said. The statement also said the utility and transmission companies will be working with the appropriate regulatory agencies to address these expenditures.