Firstenergy Corp Stock Price, News & Analysis

FirstEnergy Corp. (NYSE: FE) is actively responding to widespread power outages affecting 150,000 customers in Pennsylvania and West Virginia following a severe storm on April 29. Over 4,750 personnel are working around the clock to restore service, with 275,000 customers already restored out of 380,000 affected. The storm, recorded as the second-worst since 2009 in western Pennsylvania, caused extensive damage with wind speeds reaching 110-120 mph in Cambria County. Adding to the challenge, another severe weather system is expected with 40-50 mph winds, potentially slowing restoration efforts. The company has provided detailed restoration timelines by county, with most areas expected to have power restored between May 2-5. FirstEnergy is offering free water and ice to affected Pennsylvania customers and has emphasized generator safety protocols during the outage.

FirstEnergy has achieved the Compliance Leader Verification for 2025-2026 from Ethisphere, demonstrating excellence in corporate ethics and compliance programs. The company's commitment to ethical business practices was validated through a rigorous review process focusing on six key areas.

The company's Vice President and Chief Ethics and Compliance Officer Antonio Fernández received the 2025 Business Ethics Leadership Alliance (BELA) Beacon Award for his contributions to the ethics community. CEO Brian X. Tierney emphasized how integrity and accountability have become fundamental to FirstEnergy's operations.

The verification process included completing the Ethics Quotient assessment, benchmarking against World's Most Ethical Companies, and comprehensive document reviews. The evaluation covered program structure, ethical culture, written standards, training, risk assessment, and enforcement measures, marking FirstEnergy's transformation toward becoming a premier electric company.

FirstEnergy is working around the clock to restore power to over 385,000 customers affected by severe thunderstorms across Pennsylvania and West Virginia. As of April 30, 2025, power has been restored to approximately 156,000 customers, with restoration efforts continuing over several days.

The storm system brought winds exceeding 70 mph, causing widespread tree-related damage, broken poles, and downed power lines. More than 3,400 workers, including 2,000 lineworkers and support personnel from sister companies and mutual aid organizations, are involved in the restoration effort.

Current outages include:

• West Penn Power: 143,000 customers without service
• Penelec: 48,000 customers affected
• Penn Power: 3,800 customers without power
• Mon Power: 16,500 customers impacted, with Weirton area most affected

The company follows a systematic restoration process, prioritizing transmission facilities and critical services like hospitals. Customers can track updates through FirstEnergy's 24/7 Power Center.

CRA International has announced its role as Auction Manager for FirstEnergy's Ohio utilities' competitive bidding process. The auction, scheduled for June 24, 2025, will procure full requirements service for Standard Service Offer customers of Ohio Edison, The Illuminating Company, and Toledo Edison.

Key details:

• Format: Descending-price clock auction
• Information Session: May 7, 2025, via Zoom
• Part 1 Applications: May 8-21, 2025
• Part 2 Applications: Begins May 28, 2025

The auction process has received approval from the Public Utilities Commission of Ohio (PUCO). Interested bidders can find complete information and registration details at firstenergycbp.com.

JCP&L, a FirstEnergy Corp. (NYSE: FE) subsidiary, received approval from the New Jersey Board of Public Utilities for its EnergizeNJ infrastructure investment program. The company will invest over $202.5 million over 3.5 years starting July 1 to upgrade its electric distribution grid in northern and central New Jersey.

The program includes:

• $20.4 million for Grid Modernization with TripSaver II devices
• $128.9 million for System Resiliency improvements
• Substation Modernization upgrades

Additional investments of $132 million in matching projects are planned, including $18 million for coastal substation components and $9 million for mobile substations. The impact on typical residential customers using 777 kWh monthly will be $0.86 (0.6%) per month. This initiative is part of FirstEnergy's broader Energize365 program, which plans $28 billion in investments between 2025-2029.

FirstEnergy (NYSE: FE) reported strong Q1 2025 financial results with GAAP earnings of $360 million ($0.62 per share) and Core Earnings of $0.67 per share, significantly improving from Q1 2024's $0.44 and $0.49 per share respectively. Revenue increased to $3.8 billion from $3.3 billion year-over-year.

The company invested over $1 billion in customer-focused capital improvements during Q1, advancing its $5 billion investment plan for 2025 and five-year Energize365 program of $28 billion through 2029. FirstEnergy affirmed its 2025 Core Earnings guidance of $2.40-$2.60 per share and 6-8% compound growth target through 2029.

Distribution deliveries increased 4% compared to Q1 2024, with residential and commercial sales up 10% and 5% respectively, while industrial sales declined 3%. The company's transmission rate base grew 19%, though earnings were partially offset by dilution from the FirstEnergy Transmission equity interest sale in March 2024.

FirstEnergy Corp. (NYSE: FE) has announced four key executive appointments to strengthen its leadership team across transmission business and regional operations. Satvir Deol has been named Vice President of Transmission Operations, Don McGettigan becomes Vice President of West Virginia/Maryland Operations, Pat Mullin takes the role of Vice President of New Jersey Operations, and Chris Beam assumes the position of Vice President of Generation Project Development.

These appointments, effective April 21, 2025, align with FirstEnergy's core business model focused on enhancing system investments and customer experience at the local level. The executives will oversee critical areas including transmission line operations, safe electricity delivery, regulatory compliance, and development of renewable and conventional energy projects.

Wade Smith, President of FirstEnergy Utilities, emphasized that these appointments will strengthen the leadership team's ability to execute investment plans for improved reliability while enhancing customer experience. FirstEnergy serves more than 6 million customers across six states and operates approximately 24,000 miles of transmission lines connecting the Midwest and Mid-Atlantic regions.

FirstEnergy Corp. (NYSE: FE) is commemorating Lineworker Appreciation Day on April 18, 2025, honoring its workforce of nearly 2,500 line workers. The company's crews demonstrated exceptional performance in 2024, particularly during a severe storm in northeast Ohio that affected over 627,700 customers, where they replaced 500 poles, 231 transformers, and 75 miles of wire, achieving 94% power restoration within days.

FirstEnergy lineworkers also provided important mutual assistance during Hurricanes Helene and Milton, with approximately 645 workers contributing over 150,000 personnel-hours to restoration efforts across multiple states. Their outstanding service earned FirstEnergy both the Emergency Recovery Award and Emergency Assistance Award from the Edison Electric Institute (EEI) in February 2025.

Jersey Central Power & Light Company (JCP&L), a FirstEnergy Corp subsidiary, has announced an exchange offer for its 5.100% Senior Notes due 2035. The company is offering to exchange up to $700 million aggregate principal amount of outstanding notes for an equal amount of new notes registered under the Securities Act.

The exchange offer will expire on May 15, 2025 at 5:00 p.m. New York City time, unless extended. This exchange offer fulfills the company's obligations under a registration rights agreement and does not represent a new financing transaction. JCP&L currently serves 1.1 million customers across 13 New Jersey counties.