FirstEnergy refunds $26M as nuclear bailout repeal is signed

COLUMBUS (AP) — An Ohio electric company under scrutiny for its role in what federal authorities say was a $60 million bribery and corruption scheme said it will refund $26 million to customers that it collected through a tainted nuclear bailout bill, which was repealed by the governor Wednesday.

The millions in question were paid by customers of Akron-based FirstEnergy Corp.’s three Ohio electric utility companies as part of a revenue guarantee that they steadily receive the same amount of annual revenue they collected in 2018, a year of extreme weather and high electric use.

The announcement came the same day Republican Gov. Mike DeWine signed a bill repealing the nuclear bailout and other provisions of the earlier bill. The repeal legislation gets rid of electricity bill surcharges that were created in 2019 to pay for the bailout for the Davis-Besse nuclear power plant near Oak Harbor and the Perry plant east of Cleveland.

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