Former FirstEnergy exec details how Ohio regulator's decisions enriched utility

Witness testifies that PUCO chair Sam Randazzo helped FirstEnergy avoid $150M in cuts and gain $79M in profits

Published on Feb. 22, 2026

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A former FirstEnergy executive testified that decisions made by ex-Public Utilities Commission of Ohio Chairman Sam Randazzo helped the Akron-based utility avoid an estimated $150 million 'haircut' to its annual revenue and reap roughly $79 million in additional profits over two years.

Why it matters

The testimony provides insight into how regulatory decisions can financially benefit utilities, even when those decisions may be influenced by bribery and corruption. This case highlights ongoing concerns about the power and independence of state utility regulators.

The details

Eileen Mikkelsen, FirstEnergy's former vice president of rates and regulatory affairs, testified on the 10th day of the bribery trial of former CEO Chuck Jones and former senior vice president Michael Dowling. She said Randazzo shut down a rate review and inserted language into House Bill 6 that gave FirstEnergy the estimated financial benefits.

  • The testimony was given on Wednesday, February 18, 2026.

The players

Eileen Mikkelsen

FirstEnergy's former vice president of rates and regulatory affairs.

Sam Randazzo

Former chairman of the Public Utilities Commission of Ohio.

Chuck Jones

Former CEO of FirstEnergy.

Michael Dowling

Former senior vice president of FirstEnergy.

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What they’re saying

“Eileen Mikkelsen, FirstEnergy's former vice president of rates and regulatory affairs, gave her testimony on the 10th day of the bribery trial of former CEO Chuck Jones and former senior vice president Michael Dowling.”

— Eileen Mikkelsen, Former vice president of rates and regulatory affairs, FirstEnergy (cleveland.com)

The takeaway

This case highlights the potential for regulatory capture and the need for stronger oversight and transparency in the utility industry, especially when it comes to the independence and decision-making of state utility regulators.