FERC's power to assess fines of up to $1 million a day is stated in the instructions for completing Form 1 documentcloud.org/documents/7214… the reporting form where FirstEnergy "improperly" reported lobbying expenses, which resulted in misuse of ratepayer money documentcloud.org/documents/2119…
The FERC audit found evidence of an effort to conceal lobbying and policy expenses, some of which FirstEnergy has now admitted amounted to bribes, wrongly paid for with ratepayer money documentcloud.org/documents/2119…
FirstEnergy admitted to FERC's audit team that it "improperly" reported expenses for nearly 20 years documentcloud.org/documents/2119… so a FERC fine of up to $1 million a day could really pile
Here's a look at the factors FERC's Division of Investigations uses to determine if an investigation is warranted, which in the case of FirstEnergy already happened ferc.gov/investigations
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2004: FirstEnergy publicly disclosed a $500K payment to IEU-Ohio, an org affiliated with future PUCO chairman Samuel Randazzo, in an annual report filed with the SEC, as was required at the time under the PUHCA energyandpolicy.org/firstenergy-se…
Congress repealed parts of PUHCA after 2004, and transparency faded. The money trail between FirstEnergy and Randazzo went dark for years, as Randazzo served on the PUCO Nominating Council and then as PUCO chairman energyandpolicy.org/firstenergy-se…
2022: It takes a bribery investigation and 3-year FERC audit to reveal $22.8 million in FirstEnergy payments to IEU-Ohio and another Randazzo entity documentcloud.org/documents/2119…
A key takeaway from FERC audit of FirstEnergy: What started off as a "$60 million bribery scandal" is now more like a $133 million scandal. Let's breakdown the money in a thread.
FERC's audit team initially found FirstEnergy improperly included $10.9 million spent on lobbying in accounts reserved for expenses that are "presumptively recoverable" from ratepayers documentcloud.org/documents/2103…
Then FirstEnergy, after it signed an agreement with federal prosecutors, revealed additional political payments to FERC's audit team, including $22.8 million paid to two for-profit entities associated with former PUCO chairman Samuel Randazzo documentcloud.org/documents/2119…
A federal court ruling broadened the definition of political spending that must be excluded from utility rates, says @OCC4Consumers, with potentially big implications for PUCO’s investigation into FirstEnergy’s misuse of ratepayer $ to support #HB6dis.puc.state.oh.us/DocumentRecord…
The court ruling could also raise new questions about $137 million in external affairs costs that FirstEnergy included in “above-the-line” accounts that #FERC reserves for utility operating expenses that are “presumptively recoverable” from ratepayers energyandpolicy.org/firstenergy-se…
The court ruling affirmed that FERC should have ordered a transmission company jointly owned by AEP and Allegheny Energy (FirstEnergy) should to refund $6 million in ratepayer money that was misused for political spending cadc.uscourts.gov/internet/opini…