FirstEnergy Corp. said Thursday that it has agreed to settle a Securities and Exchange Commission investigation for $100 million as the scandal-plagued utility continues to try to distance itself from a bribery scandal that sent Ohio’s former House speaker to prison.
The settlement, approved by federal securities regulators Thursday, is tied to $60 million in payments made years earlier by FirstEnergy and affiliates to Generation Now, a dark money group controlled by former House Speaker Larry Householder (R), in exchange for legislation favorable to the company.
The SEC settlement comes a month after FirstEnergy agreed to pay $19.5 million to settle an investigation by Ohio Attorney General Dave Yost, part of a yearslong effort by the utility to untangle itself from a web of investigations and lawsuits in the wake of the 2019 energy law known as House Bill 6.
“We are pleased to have reached a resolution with the SEC as we continue to turn a new chapter,” said FirstEnergy CEO Brian Tierney in a statement. “Our focus today is investing in our regulated electric companies to improve the customer experience and support the energy transition.”
