Embattled Ohio Utility, First Energy, Being Investigated by U.S. Securities and Exchange Commission

By B.N. Frank

Activist Post has reported about recent utility scandals in Ohio and Illinois (see 1, 2, 3, 4, 5, 6). Many Americans don’t realize how much utilities have also benefited at their expense with the deployment of “Smart” Meters – electric, gas, and water. Millions have already been installed – including by First Energy – and millions more are planned despite serious cybersecurity risks (see 1, 2).

These meters DO NOT save meaningful amounts of energy and customer bills usually go up after they are installed (see 1, 2). “Smart” Meters collect customer usage data 24/7, whereas original 1-way transmitting analog meters DO NOT. Utilities collect and analyze usage data in order to market more products and services to customers and/or sell data to 3rd parties. Fingers crossed that all of this “Smart” Grid / “Smart” Meters nonsense will also be scrutinized by the U.S. Securities and Exchange Commission.

From Cleveland.com:

U.S. Securities and Exchange Commission launches investigation into FirstEnergy Corp.

The investigation appears to have begun soon after a federal grand jury indicted former Ohio House Speaker Larry Householder and four allies on racketeering charges involving the passage of a $1.3 billion bailout bill for two nuclear power plants, according to court filings.

An FBI affidavit said FirstEnergy and its affiliates funneled $60 million to a nonprofit that Householder controlled to facilitate the bill’s passage last year. The plants were owned at the time by a subsidiary of FirstEnergy.

The SEC’s public finance abuse unit is handling the regulatory investigation. The unit focuses on allegations of corruption involving publicly traded companies, municipal securities and public pension plans. The scope of the examination is unclear.

“Smart” Meters have been problematic from the start due to cybersecurity risks, explosions, fires, frequent replacement, unwanted surveillance , and more (see 1, 2, 3, 4, 5, 6). A documentary about “Smart” Meters provides more unsavory details about these horrible devices. If you can “opt out” of them, you may want to consider doing so ASAP.

Activist Post reports regularly about “Smart” Meters and other unsafe technology. For more information, visit our archives and the following websites:

Image: Pixabay

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