FirstEnergy Corp is an electric utility headquartered in Akron, Ohio. Its subsidiaries and affiliates are involved in the distribution, transmission, and generation of electricity, as well as energy management and other energy-related services. Its ten electric utility operating companies comprise one of the United States' largest investor-owned utilities, based on serving 6 million customers within a 65,000-square-mile (170,000 km2) area of Ohio, Pennsylvania, West Virginia, Virginia, Maryland, New Jersey and New York.[3] Its generation subsidiaries control more than 16,000 megawatts of capacity, and its distribution lines span over 194,000 miles. In 2018, FirstEnergy ranked 219 on the Fortune 500 list of the largest public corporations in the United States by revenue.[4]
In November 2016, FirstEnergy made the decision to exit the competitive power business, and become a fully regulated company.
On July 21, 2020, Speaker of the Ohio House of Representatives, Larry Householder, former Ohio Republican Party Chairman Matt Borges, and three others were accused of accepting $60 million in bribes from FirstEnergy in exchange for $1.3 billion worth of benefits in the form of Ohio House Bill 6,[5] as part of what became known as the Ohio nuclear bribery scandal. The stock price of the company plummeted within hours of the arrests being made. First Energy denies involvement in the charges.[6] As of July 22, 2020, FirstEnergy has not been named as a defendant. According to U.S. Attorney David DeVillers, the investigation is far from over. "There are a lot of federal agents knocking on a lot of doors."[7]
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