Firstenergy Corp. Expenses Under Scrutiny

An auditor hired by the West Virginia Public Service Commission to look into two electric companies owned by FirstEnergy found evidence of wrongdoing, but it's not clear whether the companies actually overspent on lobbying, the Pittsburgh Post-Gazette reports.

According to the Rhode Island-based Van Reen Accounting firm's report, more than $871,000 in costs associated with Ohio House Bill 6 were mischarged to MonPower and Potomac Edison's expense and capital accounts between 2014 and 2020.

Van Reen says attorney-client privilege prevented it from examining the companies' lobbying and building costs associated with HB 6, which was a bill that charged Ohio ratepayers to keep two nuclear plants operating.

FirstEnergy, which was charged with federal wire fraud, agreed to a settlement and $230 million penalty and a three-year deferred prosecution agreement.

Other investigations and lawsuits against FirstEnergy are pending.

FirstEnergy was accused of spending more than $60 million between 2018 and 2020 funneling the money through Generation Now, a nonprofit controlled by former Ohio House Speaker Larry Householder and others.

Later, funds from the nonprofit were used to bribe ballot initiative signature collectors to stop collecting signatures to reverse House Bill 6, a bill that charges Ohio ratepayers to keep the Davis-Besse and Perry nuclear plants operating.

Householder, former Ohio Read the Entire Article


Selected Grant News Headlines

A customized collection of grant news from foundations and the federal government from around the Web.

Exxonmobil Is Suing Investors Who Want Faster Climate Action

ExxonMobil is in the midst of dozens of lawsuits from states and localities accusing the company of lying about its role in climate change and the dangers of burning fossil fuels. Now, the oil...more

Firstenergy Corp. Expenses Under Scrutiny

An auditor hired by the West Virginia Public Service Commission to look into two electric companies owned by FirstEnergy found evidence of wrongdoing, but it's not clear whether the companies...more

What Is a Program Related Investment?
Foundation: Gates Foundation

Bill and Melinda Gates are putting their money where their mouth is. The world's two biggest philanthropists have each donated $50 million to the Bill and Melinda Gates Foundation, CNN...more

Exploring the Potential of Satellite-Based Mission Investment and Financing
Foundation: Gates Foundation

There's a new way of helping the world's poorest people, and it doesn't involve sending in satellites. Instead, the Bill and Melinda Gates Foundation is putting its money where its mouth is,...more

U.S. Impact Investing Alliance Names John Palfrey, President of the John D. and ...
Foundation: MacArthur Foundation, Ford Foundation

"To meet the challenges of our time, foundations must deploy resources across the full spectrum of capital, including grants, catalytic capital, and endowment investments that align with mission and...more

U.S. Impact Investing Alliance Names John Palfrey, President of the John D ...
Foundation: MacArthur Foundation, Ford Foundation

"To meet the challenges of our time, foundations must deploy resources across the full spectrum of capital, including grants, catalytic capital, and endowment investments that align with mission and...more

U.S. Impact Investing Alliance Names John Palfrey, President of the John D. and ...
Foundation: MacArthur Foundation, Ford Foundation

"To meet the challenges of our time, foundations must deploy resources across the full spectrum of capital, including grants, catalytic capital, and endowment investments that align with mission and...more

Impact Investor Illumen Capital Closes $168M Vehicle

"The basics of financial analysis often get interrupted when race or gender is present," says Daryn Dodson, CEO of Illumen Capital. That's why the Detroit-based fund-of-funds is closing its...more

Impact Investor Illumen Capital Closes $168M Vehicle

"The basics of financial analysis often get interrupted when race or gender is present," says Daryn Dodson, CEO of Illumen Capital. That's why the Detroit-based fund-of-funds is closing its...more

Startup Health Announces Type 1 Diabetes Program-Related Investment by the Helmsley ...
Foundation: Helmsley Charitable Trust

"There is no shortage of early-stage innovators with bold ideas that could lead to better management of T1D or to prevention," Sean Sullivan, a program officer at the Helmsley Charitable Trust, says...more





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Philanthropy: Fortifying American Democracy


Robert Gallucci, President, John D. and Catherine T. MacArthur Foundation, writes that philanthropy should at least bolster America’s democracy.




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