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2mo ago

Ohio Regulators Order FirstEnergy to Pay $250.7 Million in HB 6 Penalties and Refunds

The ruling applies Ohio’s triple-damages law to turn $60 million tied to the scandal into $180 million in customer bill credits.

FILE - The then-FirstEnergy Corp.'s Davis-Besse Nuclear Power Station in Oak Harbor, Ohio, is pictured on April 4, 2017. (AP Photo/Ron Schwane, File)
FILE-This aerial view shows the Perry Nuclear Power Plant on the shores of Lake Erie in North Perry, Ohio, May 20, 2005. (AP Photo/Mark Duncan, File)
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Overview

  • PUCO directed Ohio Edison, Cleveland Electric Illuminating and Toledo Edison to return $179.99 million over three billing cycles and refund an additional $6.64 million plus interest for misallocated or undocumented charges.
  • The order includes $64.1 million in civil forfeitures, with penalties tied to an improper consulting arrangement linked to former PUCO chair Sam Randazzo and other corporate separation violations.
  • Wednesday’s decision concludes three HB 6-related investigations, and a separate case on political and charitable spending is scheduled for a February 2026 ruling.
  • Regulators also approved a $34 million rate increase with a 9.63% allowed return on equity, lower than requested, which analysts said eases regulatory risk but pressures near-term cash.
  • FirstEnergy said the action closes a chapter as accountability continues through the courts, with Larry Householder serving a 20-year sentence and former executives Chuck Jones and Michael Dowling awaiting trial after pleading not guilty.