COLUMBUS, OHIO (Nov. 4, 2020) – The Public Utilities Commission of Ohio (PUCO) today initiated an audit of FirstEnergy’s compliance with corporate separation laws and regulations.
The Commission directed PUCO staff to issue a request for proposal seeking an independent third-party auditor to conduct a review of corporate separation during the time period leading up to the passage of House Bill 6 and subsequent referendum efforts. Proposals are due Nov. 25, 2020 and the Commission will select an auditor by Dec. 2, 2020. The audit report will be due April 21, 2021.
In its order, the Commission noted that information recently filed by FirstEnergy Corp. with the Securities and Exchange Commission indicating an internal investigation by FirstEnergy Corp. warranted further examination of compliance with corporate separation regulations by FirstEnergy’s electric distribution utilities and its affiliates.
The PUCO has direct jurisdiction over FirstEnergy’s three electric distribution companies: Cleveland Electric Illuminating Company, Ohio Edison and Toledo Edison.
A separate proceeding in case 20-1502-EL-UNC regarding political and charitable spending by FirstEnergy’s Ohio electric distribution utilities spending remains ongoing.
A copy of today’s commission entry and request for proposal is available on the PUCO’s website www.PUCO.ohio.gov by clicking on the link to Docketing Information System and searching for case 17-974-EL-UNC.