An outside audit by Ohio regulators found that FirstEnergy was unable to determine how it spent $460 million collected from customers.

The money was meant to go towards modernizing the company's electric grid.

However, the Public Utilities Commission of Ohio said the audit could not determine how the money was spent and no evidence showing that the charges went towards these improvements was found.

The audit was ordered after former Ohio House Speaker, Larry Householder, along with four associates were charged with using $60 million from FirstEnergy in an alleged bribery scheme to secure a nuclear plant bailout.