FirstEnergy Transmission and Transource Energy Joint Venture Receive Approval for Major Electric Transmission Project in Central Ohio

FirstEnergy Transmission (NYSE:FE) and Transource Energy received PJM Board approval on Feb 12, 2026 to jointly develop a major electric transmission project in central Ohio through Grid Growth Ventures LLC.

Rhea-AI Summary

FirstEnergy Transmission (NYSE:FE) and Transource Energy received PJM Board approval on Feb 12, 2026 to jointly develop a major electric transmission project in central Ohio through Grid Growth Ventures LLC.

The plan includes >300 miles of new 765-kV lines and substation upgrades to boost reliability, support growing demand in the Columbus region, reduce land use by consolidating corridors, and attract industry investment.

Positive

• PJM approval awarded Feb 12, 2026
• >300 miles of new 765-kV transmission lines planned
• One 765-kV line can power two million homes
• Grid Growth Ventures LLC formed as joint developer

Negative

• None.

Argus Publication session

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News Market Reaction – FE

In the trading session that priced this news, FE declined 1.50%, reflecting a mild negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

Market Context

This announcement highlights PJM’s approval of a major transmission project in central Ohio, featuri...

Analysis

This announcement highlights PJM’s approval of a major transmission project in central Ohio, featuring more than 300 miles of new 765‑kV lines capable of powering about two million homes per line. The joint venture structure leverages FirstEnergy Transmission and Transource Energy within a 13‑state regional grid. In the context of recent reliability investments and dividend growth, investors may watch for regulatory milestones, cost recovery structures, and execution progress on this large-scale project.

Key Figures

RTEP year: 2025 PJM region size: 13-state region New 765-kV lines length: more than 300 miles +4 more

RTEP year

2025

PJM Regional Transmission Expansion Plan Open Window process

PJM region size

13-state region

Area coordinated by PJM Interconnection including Ohio

New 765-kV lines length

more than 300 miles

Proposed high-voltage transmission lines in central Ohio project

Line voltage

765 kilovolts (kV)

Voltage level of proposed extra-high voltage transmission lines

Homes powered per line

two million homes

Stated capacity of a single 765‑kV line

Wider right of way

nearly two football fields wider

Additional corridor width needed for multiple lower-voltage lines

Land use reduction

cut land use in half

Environmental benefit from consolidating power in a single 765‑kV corridor

Historical Context

5 past events · Latest: Feb 12

5 events

1. Feb 12

   Reliability project update

   24h Move

   +1.9%

   Midpoint update on $95M New Jersey reliability project under Energize365 plan.

2. Feb 11

   Dividend increase

   24h Move

   +1.9%

   Quarterly dividend raised to $0.465 per share, implying $1.86 annual rate.

3. Feb 11

   Safety advisory

   24h Move

   +0.6%

   Customer safety reminder on foil balloons after 96 outages in 2025.

4. Feb 09

   Grid upgrade project

   24h Move

   +0.4%

   $30M Monmouth County upgrades for ~25,000 customers with new wire and poles.

5. Feb 04

   Regulatory filing

   24h Move

   -1.0%

   Pennsylvania Default Service Plan filing outlining 2027–2031 procurement framework.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Key Terms

regional transmission organization, regional transmission expansion plan (rtep), federal energy regulatory commission (ferc), 765-kilovolt (kv) lines

4 terms

regional transmission organization regulatory

"PJM is the regional transmission organization that coordinates the transportation"

A regional transmission organization is an independent group that runs and coordinates the high-voltage electricity grid across a broad area, acting like an air-traffic controller for power flows to keep supply and demand balanced and the lights on. It also operates the wholesale electricity markets and plans transmission needs, so its rules and decisions directly affect power prices, who gets to sell electricity, grid reliability, and the value of utilities, generators and transmission investments.

regional transmission expansion plan (rtep) regulatory

"through PJM's 2025 Regional Transmission Expansion Plan (RTEP) Open Window process"

A regional transmission expansion plan (RTEP) is a coordinated blueprint created by a regional grid operator that identifies where new or upgraded high-voltage power lines and related equipment are needed to keep the electric grid reliable and accommodate growth, new power plants or more renewable energy. Think of it like a road-planning map that decides where to add lanes so traffic keeps flowing; for investors, RTEPs matter because they signal future utility spending, potential rate changes, construction contracts, and which assets may gain or lose value.

federal energy regulatory commission (ferc) regulatory

"when the Federal Energy Regulatory Commission (FERC) is encouraging efficient"

An independent U.S. federal agency that oversees the interstate transmission and wholesale markets for electricity and natural gas, reviews hydroelectric licenses and pipeline rates, and enforces rules for those sectors. Acting like a referee or traffic controller for the energy system, its permits, rate decisions and market rules can speed or delay projects, alter operating costs and revenues, and therefore materially affect the value and risk of energy companies and investments.

765-kilovolt (kv) lines technical

"includes more than 300 miles of new 765-kilovolt (kV) lines and upgrades"

765-kilovolt (kV) lines are very high-voltage power transmission lines that carry large amounts of electricity over long distances between generation sites and regional grids. For investors, they matter because they are major, long-lived utility infrastructure projects that can increase grid capacity and reliability but require big upfront spending, regulatory approvals and land access, so they affect utility costs, future revenue, and project risk.

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

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Project will enhance grid capacity and reliability in the fast-growing greater Columbus region

AKRON, Ohio, Feb. 16, 2026 /PRNewswire/ -- Regional grid operator PJM Interconnection has selected a major electric transmission project to meet a critical infrastructure need in central Ohio. Jointly developed by FirstEnergy Transmission LLC and Transource Energy – a partnership between American Electric Power and Evergy, Inc. – the project will support rising electricity demand and ongoing economic growth in the fast-growing Columbus region.

The companies jointly proposed the project through PJM's 2025 Regional Transmission Expansion Plan (RTEP) Open Window process last August and were awarded approval Feb. 12 by the PJM Board of Managers. PJM is the regional transmission organization that coordinates the transportation of wholesale electricity across the 13-state region that includes Ohio.

The companies will jointly develop the project through the recently formed Grid Growth Ventures LLC. This collaboration will leverage the companies' collective expertise and resources to deliver comprehensive and cost-effective solutions that address the region's growing power needs as more manufacturing facilities, data centers and electric vehicles come online.

Reliable Power for Growing Region

The proposed project includes more than 300 miles of new 765-kilovolt (kV) lines and upgrades to several substations to significantly increase service reliability and economic growth opportunities in the region. One 765‑kV line can power two million homes. Matching that output takes multiple lower voltage lines and a right of way nearly two football fields wider. By consolidating power in a single corridor, 765‑kV lines cut land use in half to help reduce impacts on the local environment.

Whether a resident, business owner or part of a growing community, the proposed transmission project is designed to deliver real benefits, including:

• More reliable service and faster restoration during outages.
• Enhanced infrastructure to attract new businesses of all sizes and support expansion of energy-intensive industries.
• A grid that's ready for tomorrow's energy needs.
• Improved access to an affordable power supply that helps keep energy costs stable for homes and businesses.

Mark Mroczynski, President, FirstEnergy Transmission: "Our transmission system is ideally situated at the center of regional growth, making it a powerful platform for economic development and energy reliability. Through Grid Growth, we're building the kind of energy infrastructure that powers future generations of new businesses, good jobs and vibrant communities."

Collaboration That Drives Results

This strategic joint venture comes at a time when the Federal Energy Regulatory Commission (FERC) is encouraging efficient and cost-effective regional transmission development. By working together, FirstEnergy Transmission and Transource Energy are leveraging their strengths to deliver smarter solutions to meet the region's power capacity needs.

Doug Cannon, President, AEP Transmission: "AEP has an unrivaled history in 765-kV transmission development. AEP has built and owns more extra-high voltage lines than any other company in the United States. The project we're undertaking with FirstEnergy Transmission addresses the rapidly evolving energy demand we are seeing across the region and will enable us to continue providing reliable service to our customers and facilitate economic growth by making sure access to power is available."

About FirstEnergy Transmission

FirstEnergy Transmission, jointly owned by FirstEnergy Corp. (NYSE: FE) and Brookfield Super-Core Infrastructure Partners, owns and operates American Transmission Systems Inc. (ATSI), Mid-Atlantic Interstate Transmission LLC (MAIT) and Trans-Allegheny Interstate Line Company (TrAILCo). FirstEnergy is 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. Follow FirstEnergy online at firstenergycorp.com and on X @FirstEnergyCorp.

About Transource Energy

Transource Energy is a partnership between American Electric Power (Nasdaq: AEP) and Evergy (Nasdaq: EVRG) focused on the development and investment in competitive electric transmission projects across the U.S. AEP owns 86.5% of Transource. Evergy owns 13.5% of Transource.

AEP is committed to improving our customers' lives with reliable, affordable power. We expect to invest $72 billion from 2026 through 2030 to enhance service for customers and support the growing energy needs of our communities. Our nearly 17,000 employees operate and maintain the nation's largest electric transmission system with approximately 40,000 line miles, along with more than 252,000 miles of distribution lines to deliver energy to 5.6 million customers in 11 states. AEP also is one of the nation's largest electricity producers with approximately 31,000 megawatts of diverse owned and contracted generating capacity. We are focused on safety and operational excellence, creating value for our stakeholders and bringing opportunity to our service territory through economic development and community engagement. Our family of companies includes AEP Ohio, AEP Texas, Appalachian Power (in Virginia, West Virginia and Tennessee), Indiana Michigan Power, Kentucky Power, Public Service Company of Oklahoma, and Southwestern Electric Power Company (in Arkansas, Louisiana, east Texas and the Texas Panhandle). AEP also owns AEP Energy, which provides innovative competitive energy solutions nationwide. AEP is headquartered in Columbus, Ohio. For more information, visit aep.com.

 

View original content to download multimedia:https://www.prnewswire.com/news-releases/firstenergy-transmission-and-transource-energy-joint-venture-receive-approval-for-major-electric-transmission-project-in-central-ohio-302688694.html

SOURCE FirstEnergy Corp.

FAQ

What did FirstEnergy Transmission (FE) and Transource Energy get approved by PJM on Feb 12, 2026?

They received PJM Board approval to develop a major central Ohio transmission project through Grid Growth Ventures LLC. According to FirstEnergy Transmission, the project was selected via PJM's 2025 RTEP Open Window to meet growing regional demand.

How much new transmission will the FE/Transource project add in central Ohio?

The project includes more than 300 miles of new 765-kV lines and substation upgrades. According to FirstEnergy Transmission, the design consolidates capacity to increase reliability and reduce land use versus multiple lower-voltage corridors.

What reliability and land-use benefits does the planned 765-kV build provide for FE investors?

765-kV lines increase service reliability and cut corridor land use roughly in half versus multiple lower-voltage lines. According to FirstEnergy Transmission, consolidation lowers environmental footprint while supporting faster outage restoration.

How will the FE and Transource joint venture support economic growth in the Columbus region?

The project aims to enable new manufacturing, data centers, and EV growth by improving power access and stability. According to FirstEnergy Transmission, enhanced infrastructure is intended to attract and support energy-intensive businesses.

Who is developing the project and what expertise does each partner bring to FE's transmission plan?

Grid Growth Ventures LLC will jointly develop the project, combining FirstEnergy Transmission and Transource Energy capabilities. According to FirstEnergy Transmission, the partnership leverages collective experience in extra-high-voltage transmission delivery and operations.