Electric Upgrades Boost Reliability for McKean County Customers

Rhea-AI Summary

FirstEnergy (NYSE: FE) completed an underground cable upgrade in McKean County to improve reliability for more than 1,000 Bradford and Bradford Township customers. The work adds larger cables, redundant lines, and protective conduit and follows a 2024 transformer upgrade.

This project is part of Penelec's LTIIP III $538 million investment and FirstEnergy's Energize365 $28 billion modernization plan for 2025–2029.

Positive

• $538 million LTIIP III investment for Penelec service area
• Underground cable upgrades benefiting 1,000+ Bradford-area customers
• Added redundancy: backup power lines to reduce outages and speed restoration
• $28 billion Energize365 modernization plan for 2025–2029

Negative

• None.

Key Figures

LTIIP III investment: $538 million Bradford customers: more than 1,000 customers Penelec customers: approximately 597,000 customers +5 more

8 metrics

LTIIP III investment $538 million Penelec service area Long Term Infrastructure Improvement Plan III

Bradford customers more than 1,000 customers Customers served by upgraded McKean County infrastructure

Penelec customers approximately 597,000 customers Penelec service territory in PA and NY

Penelec service area 17,600 square miles Geographic coverage of Penelec

Energize365 investment $28 billion Planned grid investment through Energize365 between 2025 and 2029

Energize365 period 2025 to 2029 Timeframe for $28 billion grid investment plan

Distribution customers more than six million customers Total customers served by FirstEnergy’s electric distribution companies

Transmission network approximately 24,000 miles Transmission lines operated by FirstEnergy subsidiaries

Market Reality Check

Price: $47.50 Vol: Volume 3,974,745 is at 0....

normal vol

$47.50 Last Close

Volume Volume 3,974,745 is at 0.92x the 20-day average of 4,336,231 shares. normal

Technical Price $47.50 is trading above the 200-day MA of $43.66 and is 1.45% below the 52-week high of $48.20.

Peers on Argus

FE gained 1.6% with several regulated electric peers also positive (AEE +0.79%, ...

FE gained 1.6% with several regulated electric peers also positive (AEE +0.79%, ES +0.64%, EIX +1.59%, PPL +0.63%, WEC +0.66%), but momentum scanners did not flag a coordinated sector move.

Historical Context

5 past events · Latest: Jan 23 (Positive)

Pattern 5 events

Date	Event	Sentiment	Move	Catalyst
Jan 23	Storm readiness update	Positive	-1.0%	Crews and systems positioned for major winter storm across six-state footprint.
Jan 13	Earnings call notice	Neutral	+1.9%	Announced dates and webcast details for Q4 and full-year 2025 results.
Jan 09	Charitable grant	Positive	-0.1%	FirstEnergy Foundation $25,000 grant supporting statewide milk distribution program.
Jan 08	Regulatory settlement	Positive	+0.3%	PUCO-approved settlement returning $275 million in benefits to Ohio customers.
Jan 08	Debt exchange offer	Neutral	+0.3%	Extension of exchange offer for 4.750% Senior Notes due 2033 with high tender take-up.

Pattern Detected

Recent news events have generally produced modest price reactions, with a mix of aligned and divergent moves versus the perceived tone of announcements.

Recent Company History

Over the past month, FE’s news flow has focused on operations, community support and regulatory matters. A winter storm readiness update on Jan 23, 2026 and a webcast notice for Q4 results on Jan 13, 2026 drew moderate but mixed price responses. Earlier in January, FE highlighted charitable giving and a PUCO-approved settlement delivering $275 million in customer benefits, as well as an exchange offer for $450,000,000 of notes. Today’s Bradford-area reliability upgrades fit the same theme of grid investment and customer-focused infrastructure work.

Market Pulse Summary

This announcement highlights continued investment in grid reliability, including new underground cab...

Analysis

This announcement highlights continued investment in grid reliability, including new underground cables and backup capabilities for more than 1,000 Bradford-area customers. The work forms part of Penelec’s $538 million LTIIP III program and FirstEnergy’s broader $28 billion Energize365 plan for 2025–2029. In recent months, FE’s news flow has centered on operational readiness, regulatory settlements and capital structure actions. Investors may watch how ongoing infrastructure spending, regulatory outcomes and forthcoming earnings results interact over time.

Key Terms

substation, underground power lines, transmission lines

3 terms

substation technical

"New underground cable for three power lines served by a local substation"

A substation is a fenced facility on the electricity network where equipment changes the voltage, routes power, and protects the grid so electricity can move safely and reliably from generation to homes and businesses. Investors care because substations are critical pieces of infrastructure: they affect service reliability, grid capacity and upgrade costs, and can influence the value and operating risk of utilities, real estate near outages, and companies in the energy supply chain.

underground power lines technical

"Sturdy plastic pipes better protect underground power lines from water, road salt"

Underground power lines are electrical cables installed beneath the ground to carry electricity, keeping wires out of sight and protected from wind, ice, and falling trees—think of burying a garden hose instead of leaving it exposed. For investors, they matter because burying lines changes the cost and timing of construction, repairs and maintenance, affects outage risk and insurance, and influences long-term capital and operating expenses for utilities, developers and infrastructure projects.

transmission lines technical

"The company's transmission subsidiaries operate approximately 24,000 miles of transmission lines"

High-voltage towers and cables that carry electricity from power plants to cities and substations, like highways that move energy rather than cars. For investors, transmission lines are long-lived, capital-intensive assets whose condition, capacity and regulatory treatment affect utility revenues, reliability and the ability to connect new generation; bottlenecks or upgrades can change costs, permit timelines and future returns.

AI-generated analysis. Not financial advice.

Work part of $538 million investment to benefit Penelec customers

ERIE, Pa., Jan. 28, 2026 /PRNewswire/ -- FirstEnergy Pennsylvania Electric Company (FE PA), a subsidiary of FirstEnergy Corp. (NYSE: FE) known in northwestern Pennsylvania as Penelec, has completed a major upgrade in McKean County to provide more reliable and resilient electric service for more than 1,000 Bradford and Bradford Township customers.

New underground cable for three power lines served by a local substation is helping to reduce outages, speed power restoration and support local growth. The project builds on work completed in 2024, when Penelec installed a new substation transformer that delivers more electricity and better meets the community's power needs.

John Hawkins, FirstEnergy President, Pennsylvania: "We know how much our customers count on reliable electricity every day to brighten their homes and power their businesses. We're investing in new equipment to get ahead of outages before they happen – and respond faster when they do. These upgrades are expected to make a real difference for the Bradford community."

Upgrades That Deliver Impact

The work includes:

• Installing stronger cables: New, bigger underground wires can carry more electricity to local homes and businesses.
• Adding backup capabilities: Redundant power lines mean customers can be switched to another line to minimize power outages when issues arise.
• Protecting new equipment: Sturdy plastic pipes better protect underground power lines from water, road salt and corrosive soil to keep electricity more reliable.
• Completing additional upgrades in 2026: Adjustments to existing pole-top equipment in the coming year will make it easier to reroute electricity and further reduce outages.

Photos of the underground cable installation are available on Flickr.

Part of a Larger Plan

The upgrades are part of FE PA's Long Term Infrastructure Improvement Plan (LTIIP) III, which fast-tracks important investments in electric system reliability. The LTIIP III investment for Penelec's service area is $538 million.

LTIIP is part of Energize365, FirstEnergy's long-term investment program to modernize the electric grid. FirstEnergy plans to invest $28 billion through Energize365 between 2025 and 2029. The goal: a smarter, more secure grid that meets the needs of today's customers and tomorrow's growth. 

Penelec serves approximately 597,000 customers within 17,600 square miles of northern and central Pennsylvania and western New York. Follow Penelec on X @Penelec and on Facebook at facebook.com/PenelecElectric.

FirstEnergy is dedicated to integrity, safety, reliability and operational excellence. Its electric distribution companies form one of the nation's largest investor-owned electric systems, serving more than six million customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate approximately 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Visit FirstEnergy online at firstenergycorp.com and follow FirstEnergy on X @FirstEnergyCorp.

View original content to download multimedia:https://www.prnewswire.com/news-releases/electric-upgrades-boost-reliability-for-mckean-county-customers-302672777.html

SOURCE FirstEnergy Corp.

FAQ

What did FirstEnergy (FE) install in McKean County on January 28, 2026?

FirstEnergy installed new larger underground cables and protective conduit to serve local lines. According to FirstEnergy, the work adds redundancy and protects lines from water, road salt and corrosive soil to improve reliability.

How many customers will the FE McKean County upgrades help in Bradford?

The upgrades serve more than 1,000 Bradford and Bradford Township customers directly. According to FirstEnergy, the project works with a prior 2024 transformer upgrade to better meet local electricity demand.

How does the McKean County project fit into Penelec's LTIIP III and FE's plans?

The project is part of Penelec's LTIIP III program totaling $538 million for the service area. According to FirstEnergy, it also aligns with Energize365, a $28 billion grid modernization plan for 2025–2029.

What reliability improvements does the FE upgrade deliver for shareholders and customers?

The work adds larger cables and redundant lines to reduce outages and speed restoration. According to FirstEnergy, these upgrades are expected to improve resilience and support local growth in the Bradford area.

Will FirstEnergy complete further work in McKean County after this upgrade?

Yes; additional adjustments to pole-top equipment are planned in 2026 to ease rerouting and further cut outages. According to FirstEnergy, these follow-on actions will complement the underground cable installation.

How large is Penelec's customer base and service area mentioned in the announcement?

Penelec serves about 597,000 customers across roughly 17,600 square miles in northern and central Pennsylvania and western New York. According to FirstEnergy, the upgrade supports a subset of customers within that broader service area.