CLEVELAND (AP) -- Audits have found that a northeastern Ohio energy company spent millions of dollars more than it should have to comply with state renewable-energy mandates - and passed the cost onto rate-payers.
The law requires that a percentage of the power every electric company sells be generated with renewable technologies such as wind and solar. Companies can buy "renewable-energy credits" instead of the power itself or pay the state a fine.
The (Cleveland) Plain Dealer (http://bit.ly/Nu6JyV ) reports that audits found the Illuminating Co., Ohio Edison and Toledo Edison relied on FirstEnergy Solutions, an unregulated affiliate, to buy credits from people and organizations that generate renewable energy.
The audits called FirstEnergy's decisions "seriously flawed." But the company said it had no choice but to the buy the credits.
Information from: The Plain Dealer, http://www.cleveland.com