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Former top Ohio utility regulator skimmed millions from secret deals between utilities and large companies, p - cleveland.com

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Former top Ohio utility regulator skimmed millions from secret deals between utilities and large companies, prosecutors say - cleveland.com

COLUMBUS, Ohio – Last month’s federal indictment of Sam Randazzo, Ohio’s former top utilities regulator, focused on what prosecutors said was a $4.3 million bribe paid to him by Akron-based utility FirstEnergy in exchange for favorable treatment.

But Monday’s Summit County indictment of Randazzo, along with the two former FirstEnergy executives accused of arranging the bribes, includes new accusations that Randazzo illegally skimmed millions for himself off secret settlement deals paid to large companies he represented.

Related Knowledge Center: ENERGY BASICS: electricity

State of Play

Electricity is a secondary energy source: it is generated through the conversion of primary energy sources such as natural gas, coal, solar, hydropower, and wind. Electricity’s versatility is not cost-free: a substantial amount of energy is lost in its generation and the cost of storage is high, compared with fuels such as coal, oil and natural gas. The economics of battery technology hold the key to expanded use of renewable sources to generate electricity.

More informationabout ENERGY BASICS: electricity