FirstEnergy Board Chair, President and CEO Brian X. Tierney Participates in Pennsylvania Energy and Innovation Summit

Rhea-AI Summary

FirstEnergy (NYSE: FE) CEO Brian X. Tierney addressed the Pennsylvania Energy and Innovation Summit at Carnegie Mellon University, highlighting the company's strategic infrastructure investments and grid modernization plans. The company announced a $28 billion capital investment through 2029 for systemwide modernization, including $15 billion specifically for Pennsylvania infrastructure.

Under the Energize365 program, FirstEnergy will implement automated technology for outage management, upgrade transmission capacity, deploy SCADA technology for real-time monitoring, and modernize substations. The company serves over 6 million customers across six states and operates approximately 24,000 miles of transmission lines.

Positive

• $28 billion capital investment commitment through 2029 for grid modernization
• $15 billion dedicated to Pennsylvania infrastructure enhancements
• Planned expansion of workforce with new journey-level hires and apprentices in Pennsylvania

Negative

• None.

News Market Reaction – FE

-0.32%

-0.32% Session move

In the trading session that priced this news, FE declined 0.32%, reflecting a mild negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

AI-generated analysis. How Rhea-AI works. Not financial advice.

See more from StockTitan in Google Search and AI answers. Adds StockTitan as a preferred source · opens Google

Add on Google Not now

AKRON, Ohio, July 15, 2025 /PRNewswire/ -- FirstEnergy Corp. (NYSE: FE) Board Chair, President and CEO Brian X. Tierney addressed government officials, global investors and leaders in energy, technology, labor and trade during today's Pennsylvania Energy and Innovation Summit at Carnegie Mellon University in Pittsburgh, hosted by Senator David McCormick. Tierney emphasized FirstEnergy's commitment to building a modern energy grid that supports growth and innovation fueled by emerging technologies.

Brian Tierney: "The electric landscape – in Pennsylvania and across the country – is evolving rapidly as economic development and artificial intelligence drive increased electricity demand. Meeting this demand while ensuring reliable energy supply requires more dispatchable energy sources and a stronger transmission infrastructure.

The surge in demand creates both challenge and opportunity. FirstEnergy is embracing the opportunity by making strategic investments that enable jobs creation, growth and resilience. Through 2029, FirstEnergy is investing more than $28 billion in capital systemwide to modernize local distribution systems and strengthen the transmission network.

In Pennsylvania, that includes spending $15 billion in infrastructure enhancements, people, processes and facilities needed to deliver safe, reliable power. This year, more than 40 new journey-level hires and apprentices will join our Pennsylvania team in well-paying, meaningful careers with long-term growth opportunity.

By investing in a smarter, stronger grid and dedicated workforce, FirstEnergy isn't just keeping pace with change – we are helping lead it."

Planned Investments Strengthen the Grid

Under Energize365, FirstEnergy's multi-year grid evolution program, the company is creating a smarter, more secure grid. Through 2029, key investments across its five-state service territory include:

• Automated technology to more quickly detect and resolve outages.
• Upgraded wires to handle increased capacity.
• Supervisory control and data acquisition (SCADA) technology that provides real-time monitoring of electric conditions.
• Modernized and expanded substations to increase capacity and flexibility.

To learn more about Energize365 on FirstEnergy's website.

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 6 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. Follow FirstEnergy online at www.firstenergycorp.com and on X @FirstEnergyCorp.

View original content to download multimedia:https://www.prnewswire.com/news-releases/firstenergy-board-chair-president-and-ceo-brian-x-tierney-participates-in-pennsylvania-energy-and-innovation-summit-302506041.html

SOURCE FirstEnergy Corp.

FAQ

What is FirstEnergy's (NYSE: FE) total investment plan through 2029?

FirstEnergy plans to invest $28 billion in capital systemwide to modernize local distribution systems and strengthen the transmission network through 2029.

How much is FirstEnergy investing in Pennsylvania infrastructure?

FirstEnergy is investing $15 billion in Pennsylvania for infrastructure enhancements, including people, processes, and facilities needed to deliver safe, reliable power.

What is FirstEnergy's Energize365 program?

Energize365 is FirstEnergy's multi-year grid evolution program that includes automated outage detection, upgraded transmission capacity, SCADA technology implementation, and substation modernization.

How many customers does FirstEnergy serve and where?

FirstEnergy serves more than 6 million customers across six states: Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York.

What employment opportunities is FirstEnergy creating in Pennsylvania?

FirstEnergy is adding more than 40 new journey-level hires and apprentices to their Pennsylvania team in 2025.