Utility companies must ensure their ethics officers are genuinely ethical and implement strong corporate governance practices, as demonstrated by the Ohio HB 6 scandal where First Energy's leadership faced legal consequences; good governance protects customers, shareholders, and the public, and applies to any company beyond just utilities.
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We’ll start with “don’t do corruption…”
Added:Curious what you think maybe some of the lessons might be for utility leaders, obviously beyond don't do corruption if you don't want to go to prison. What might you kind of characterize as some of the learnings here for the broader industry beyond just Ohio?
>> One of the things that's important is make sure that your ethics officers actually are being ethical. First Energy has made a big deal in their public statements of saying that they have reformed their corporate culture. They have done a lot since the scandal came to light. Good corporate governance matters. It matters in for-profit groups. It protects both their customers and their shareholders, and it protects the public more generally. And that goes not just for utilities, but for any company.
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