Joint Protest of Corporate Raider Carl Icahn’s Effort to Secure 2 Board Seats at FirstEnergy

By Tyson Slocum

Public Citizen teamed up with Citizens Utility Board of Ohio to raise concerns with infamous corporate raider Carl C. Icahn’s effort to obtain control over the electric utility FirstEnergy. On April 13, FirstEnergy Corp. applied under Section 203 of the Federal Power Act to allow entities controlled by Carl C. Icahn to have two employees as voting representatives on FirstEnergy’s board of directors. We seek a formal Commission determination that Mr. Icahn’s investment in FirstEnergy Corp. constitutes “control” for the purposes of the Commission’s regulations; that Mr. Icahn’s companies be deemed affiliates of FirstEnergy Corp; and that the Commission consider setting the issue for hearing of whether the transaction impairs effective state regulation since it appears no state utility regulator has asserted jurisdiction over the proposed transaction. It is FERC Docket No. EC21-77, and you can read the full filing here: IcahnFE