FirstEnergy Corp. reports developments for an investor-owned electric utility holding company with distribution companies in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York and transmission subsidiaries that connect the Midwest and Mid-Atlantic regions.
Recurring updates cover GAAP and core earnings, distribution and transmission rate-base growth, capital spending for grid reliability, and regulatory proceedings such as Ohio distribution rate plans. Company news also covers projects by American Transmission Systems, Potomac Edison, Ohio Edison, Toledo Edison and The Illuminating Company, including line rebuilds, tree trimming, time-of-use rates, storm restoration and operational leadership changes.
FirstEnergy (NYSE: FE) has named Don Rettig vice president and FirstEnergy Foundation president to lead its philanthropic strategy and charitable investments. He will report to Wade Smith, president of FirstEnergy Utilities.
Rettig joins from Owens Corning, where he served as director of community affairs and foundation president. The FirstEnergy Foundation's 2026 giving priorities are housing stability, hunger relief, workforce development and STEM education. Its Hunger Action Month grants totaled $5 million, double 2025 support. Funding for its Shelter, Safety and Stability initiative increased to $500,000, five times its 2025 investment.
FirstEnergy (NYSE: FE) subsidiary Potomac Edison is seeking Virginia regulatory approval for a transmission project covering approximately 29 miles of line rebuilds. The Gore-Doubs-Goose Creek Improvements Project includes rebuilding 138 kV lines in Frederick, Clarke and Loudoun counties and constructing two new 138 kV lines between Stonewall and the proposed Woodside substation.
The Virginia application was filed on October 30, 2026. Subject to approvals, construction is planned to begin in 2028, with the Virginia portion expected in service in December 2030. The project is part of FirstEnergy's $36 billion capital investment plan. Potomac Edison expects the upgrades, located almost entirely along existing routes, to improve reliability and accommodate growing electricity demand.
FirstEnergy (NYSE: FE) subsidiary The Illuminating Company energized a second transformer at Lakewood Substation four months ahead of schedule. It entered service last week after installation and testing, joining the first transformer energized earlier this year. Together, the transformers increase capacity and give operators more flexibility to manage electricity flows and respond to outages. Each represents an investment of approximately $1.85 million, including equipment, transportation and installation.
The FirstEnergy (FE) Foundation is investing $115,000 in Pennsylvania organizations providing housing assistance and support for people facing housing-related challenges. The grants cover 14 organizations, including $5,000 for Blackburn Center to support shelter operations, necessities and crisis programs. The awards are part of the Foundation's Shelter, Safety and Stability initiative, whose funding increased from $100,000 to $500,000 this year.
FirstEnergy (FE) announced that its Foundation awarded $120,000 to New Jersey nonprofits providing shelter, housing assistance and related support services. The grants support 10 organizations and form part of the Shelter, Safety and Stability initiative, which expanded in 2026 to award $500,000 to 38 organizations across five states.
The Foundation has donated more than $850,000 to housing-related initiatives in 2026, including that $500,000. Since 2020, its shelter-related donations have exceeded $1.6 million, with nearly $700,000 supporting organizations serving domestic violence survivors and their families. FirstEnergy employees also contributed approximately 28,500 volunteer hours in 2025 across its service territory.
FirstEnergy (FE) subsidiary Keystone Appalachian Transmission Company has been selected for an estimated $20.8 million federally funded grid modernization initiative. Led by EPRI, the pilot will evaluate technologies intended to improve reliability and transmission capacity. KATCo plans equipment installation on an existing line between Butler and Karns City, Pennsylvania. Work is expected to begin in early 2027 and continue over multiple years.
FirstEnergy (NYSE: FE)'s foundation awarded $125,000 to seven West Virginia and Maryland organizations providing shelter, housing assistance and supportive services. The grants serve communities covered by Mon Power and Potomac Edison. The foundation's Shelter, Safety and Stability initiative increased from $100,000 to $500,000 in 2026 and now supports 38 organizations across five states.
The foundation has donated more than $850,000 to housing-related initiatives to date in 2026, including the $500,000 initiative. Since 2020, its shelter and housing donations total over $1.6 million, with nearly $700,000 directed to organizations supporting domestic violence survivors and their families. Separately, $135,000 went to housing and shelter organizations through its $5 million Hunger Action Month initiative.
FirstEnergy (NYSE: FE) reported third-quarter 2026 GAAP earnings of $557 million, up from the same quarter a year earlier. Earnings per share rose to $0.96 from $0.76, while revenue increased to $4.6 billion from $4.1 billion. Core earnings, a non-GAAP measure excluding special items, rose to $0.98 per share from $0.83.
FirstEnergy reaffirmed 2026 Core EPS guidance of $2.62–$2.82, expecting results at or slightly above the midpoint, and annual compound growth near the top of 6%–8% through 2030. Its five-year capital plan totals $36 billion. Contracted large-load demand reached 7.9 gigawatts, nearly double the start-of-year level. The company expects at least a 25% increase over its current $19 billion transmission plan when rolled forward to 2027–2031. It reserved Siemens turbines for the proposed Maidsville Energy Center, with delivery expected in 2030; West Virginia regulatory approval remains pending.
FirstEnergy (FE) announced foundation grants of $140,000 for seven Ohio organizations providing shelter, housing assistance and supportive services. The awards are part of the FirstEnergy Foundation's Shelter, Safety and Stability initiative, which increased from $100,000 to $500,000 in 2026 and now supports 38 organizations across five states.
The Ohio grants support organizations serving people facing homelessness, families in crisis and survivors of domestic violence. The foundation has donated more than $850,000 to housing-related initiatives to date in 2026, including the $500,000 initiative.
FirstEnergy (FE) subsidiary FirstEnergy Pennsylvania Electric Company extended its senior-note exchange offer to October 30, 2026, giving holders more time to participate.
The offer now expires at 5:00 p.m., New York City time, unless further extended; its previous deadline was October 16, 2026. It covers up to $300 million of 4.150% Senior Notes due 2028 and $550 million of 4.550% Senior Notes due 2031. Holders exchange outstanding unregistered notes for registered notes of the same series and principal amount.
As of 5:00 p.m., New York City time, on October 16, $845,000,000, or 99.4118%, of the outstanding notes had been tendered. The exchange is governed by the September 17, 2026 prospectus and its supplements, including the October 19 supplement.