FirstEnergy Transmission Awarded Projects by PJM Interconnection to Enhance Reliability and Address Rising Customer Demand

Rhea-AI Summary

FirstEnergy (NYSE: FE) said its transmission unit, FirstEnergy Transmission LLC, was selected by PJM to build multiple reliability projects in Ohio and Pennsylvania, with FET investing about $950 million to modernize equipment, rebuild lines and upgrade substations.

Key elements include Grid Growth Ventures' nearly 200 miles of new 765-kV line and a project cost estimated at $1.2 billion, plus ATSI and MAIT work totaling about $459 million.

Positive

• FET investment of about $950 million
• Grid Growth project: ~$1.2 billion total, ~200 miles of 765-kV lines
• ATSI investing $294 million, including a $251 million Clark County substation
• MAIT investing $165 million, including $93 million in 500-kV upgrades
• Outages down 50% on high-voltage lines since 2014

Negative

• Projects require detailed route studies and environmental reviews before construction
• Significant capital concentrated in Ohio and Pennsylvania could face local permitting delays

Key Figures

Total FET investment: $950 million Grid Growth Ventures spend: $490 million Grid Growth project cost: $1.2 billion +5 more

8 metrics

Total FET investment $950 million Modernize equipment, rebuild lines and upgrade substations in OH and PA

Grid Growth Ventures spend $490 million FET share to build new high-voltage lines in greater Columbus, Ohio

Grid Growth project cost $1.2 billion Total estimated cost for Columbus-region transmission expansion

ATSI Ohio investment $294 million New substation and line upgrades in multiple Ohio counties

MAIT Pennsylvania investment $165 million Line rebuilds and 500‑kV upgrades in York, Adams, Armstrong, Indiana

New 765‑kV lines Nearly 200 miles High-voltage lines to increase reliability in the Columbus region

New 345‑kV lines Approximately 30 miles Additional transmission construction within Grid Growth projects

Outage reduction 50% Cut in outages on high‑voltage lines since 2014

Market Reality Check

Price: $51.16 Vol: Volume 4,044,244 vs 20-da...

normal vol

$51.16 Last Close

Volume Volume 4,044,244 vs 20-day average 5,416,320 (relative volume 0.75x) shows only moderate interest ahead of this news. normal

Technical Shares at $51.16 trade above the 200-day MA of $44.37 and sit just 0.35% below the 52-week high of $51.34, reflecting a strong pre-news trend.

Peers on Argus

FE gained 1.03% with regulated electric peers also positive: AEE +0.7%, ES +1.38...

FE gained 1.03% with regulated electric peers also positive: AEE +0.7%, ES +1.38%, EIX +0.17%, PPL +0.88%, WEC +0.86%, indicating a supportive sector backdrop alongside the project awards.

Historical Context

5 past events · Latest: Feb 26 (Neutral)

Pattern 5 events

Date	Event	Sentiment	Move	Catalyst
Feb 26	Leadership appointment	Neutral	+0.0%	Named a new VP of Transmission Finance to support evolving ventures.
Feb 25	Foundation grant	Neutral	+0.0%	Awarded a <b>$10,000</b> grant for first responder training equipment.
Feb 19	Grid upgrade project	Positive	+1.3%	Launched a <b>$30 million</b> 69-kV project to improve reliability for 6,000+ customers.
Feb 18	New substation	Positive	-0.8%	Completed a <b>$6.6 million</b> smart substation to enhance reliability in West Virginia.
Feb 17	Earnings and outlook	Positive	-0.8%	Reported 2025 results and a <b>$36 billion</b> 2026–2030 capital plan with EPS guidance.

Pattern Detected

Infrastructure and reliability investments have drawn mixed reactions: some grid-upgrade news aligned with gains, while major strategic or earnings updates saw negative follow-through.

Recent Company History

Over recent months, FirstEnergy has focused on reliability and long-term growth. An earnings release on Feb 17, 2026 highlighted 2025 GAAP EPS $1.77, Core EPS $2.55 and a $36 billion 2026–2030 capital plan, yet the stock fell 0.83%. Smaller grid projects, like the Berks County upgrade costing about $30 million, coincided with a 1.29% gain. Routine leadership and philanthropic announcements saw flat price reactions. Today’s large PJM-awarded transmission investments extend this ongoing grid-modernization narrative.

Market Pulse Summary

This announcement details PJM-awarded transmission projects where FET plans to invest about $950 mil...

Analysis

This announcement details PJM-awarded transmission projects where FET plans to invest about $950 million, including roughly $490 million through Grid Growth Ventures and a total Columbus-area project cost of $1.2 billion. It extends FirstEnergy’s broader grid strategy highlighted in recent filings and its $36 billion 2026–2030 capital plan. Investors may watch project permitting, construction timelines, regulatory cost recovery and whether outage reductions like the reported 50% improvement continue as new assets enter service.

Key Terms

regional transmission organization, regional transmission expansion plan (rtep), kilovolt (kv)

3 terms

regional transmission organization regulatory

"PJM is the regional transmission organization that coordinates the movement of electricity"

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

"FET submitted the projects through PJM's 2025 Regional Transmission Expansion Plan (RTEP)"

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.

kilovolt (kv) technical

"build nearly 200 miles of new 765-kilovolt (kV) lines to significantly increase"

A kilovolt (kV) is a unit of electrical voltage equal to 1,000 volts and measures the force that pushes electric current through a system—think of it like water pressure pushing flow through a pipe. For investors, kV ratings indicate the scale and capacity of power equipment and transmission lines: higher voltages enable long-distance delivery and larger loads but bring greater engineering complexity, cost, safety needs and regulatory oversight that affect project economics and risk.

AI-generated analysis. Not financial advice.

AKRON, Ohio, March 2, 2026 /PRNewswire/ -- FirstEnergy Transmission LLC (FET) has been selected by regional transmission grid operator PJM Interconnection LLC to build several important projects that will make the power grid stronger, more reliable and ready for future growth in Ohio and Pennsylvania.

As part of this effort, FET will invest about $950 million to modernize equipment, rebuild older lines and upgrade substations. Some of these projects will be carried out through the Grid Growth Ventures LLC joint venture with Transource Energy LLC, while others will be built directly by FET subsidiaries American Transmission Systems Incorporated (ATSI) and Mid-Atlantic Interstate Transmission LLC (MAIT) in their respective service territories.

FET submitted the projects through PJM's 2025 Regional Transmission Expansion Plan (RTEP) open window process, and the PJM Board of Managers approved them on Feb. 12. PJM is the regional transmission organization that coordinates the movement of electricity across the 13‑state region that includes FirstEnergy's service territories.

Mark Mroczynski, President, Transmission at FirstEnergy: "We want every family, business and community in our service area to feel confident that our power system is ready for the future. These improvements will help ensure the grid keeps up with growing communities and the everyday moments people count on electricity for. Being selected by PJM reflects our commitment to dependable service and smart, cost-conscious investments that support our region as it grows."

Think of the electric grid as a system of highways that carry electricity instead of cars. As more families and businesses move into an area, those "electric highways" can start to feel crowded. Clearing bottlenecks on the grid is like adding extra lanes to a busy road—everything moves more smoothly, and it helps prevent power problems, including outages. FET's projects are designed to build bigger, stronger electric highways so power can travel more safely, cost-efficiently and quickly to the homes, schools and businesses that rely on it every day.

The FET projects approved by PJM include the following:

• Through Grid Growth Ventures, FET is investing approximately $490 million to build nearly 200 miles of new 765-kilovolt (kV) lines to significantly increase service reliability and economic growth opportunities in the greater Columbus, Ohio, region. The Grid Growth projects also include construction of approximately 30 miles of 345‑kV transmission lines. The total cost of this project is estimated at $1.2 billion.
• In Ohio, ATSI is investing $294 million, including:
  • $251 million to construct a new substation in Clark County where two major power lines meet and upgrade a line in the area. Think of this like building a major intersection so electricity can switch directions more easily and travel faster where it's needed. This project will support the Grid Growth work.
  • $43 million to replace breakers in Lake and Erie counties, upgrade high-voltage lines in Ottawa, Erie and Huron counties and rebuild a 69-kV line in Lorain County. This work is similar to improving a busy neighborhood road by installing new stoplights to improve traffic flow, repaving the road so it's smoother and safer and rebuilding a side street that's worn out.
• In Pennsylvania, MAIT is investing $165 million, including:
  • $72 million to rebuild an existing 115-kV line into a double circuit line in York and Adams counties. This is like turning a two-lane road into a four-lane road so more electricity can move at once, especially during high demand periods.
  • $93 million to upgrade and tie in existing 500-kV lines in Armstrong and Indiana counties. This is like building a new bridge between two crowded highways so electricity can move more easily without getting backed up.

What This Means for Customers

These upgrades in Ohio and Pennsylvania will help:

• Improve reliability so customers experience fewer outages.
• Support new businesses and jobs, boosting the local economy.
• Prepare the grid for future growth, including new homes, businesses and technology.
• Replace older equipment to keep the system running smoothly and cost-effectively.

Since 2014, FirstEnergy's transmission companies have collectively reduced outages by 50% on high-voltage power lines – proof that the companies' strategic infrastructure investments are making the grid more reliable for customers.

FirstEnergy is beginning the detailed planning work needed to move these projects forward. This includes studying possible routes, meeting with local communities, gathering feedback and completing careful environmental reviews. Taking these steps early helps ensure the projects are built responsibly with a strong focus on safety, reliability and the needs of the customers and communities.

Learn more about the value of a modern transmission system through FirstEnergy's video series "Why a Modern Transmission System Matters to You" on the company's YouTube channel. 

Jointly owned by FirstEnergy Corp. (NYSE: FE) and Brookfield Super-Core Infrastructure Partners, FET is the equity investor in Grid Growth Ventures and owns and operates ATSI, MAIT and Trans-Allegheny Interstate Line Company (TrAILCo).

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 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 on X @FirstEnergyCorp or online at firstenergycorp.com. 

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SOURCE FirstEnergy Corp.

FAQ

What projects did FirstEnergy (FE) say PJM approved on March 2, 2026?

PJM approved several reliability projects including Grid Growth line builds and ATSI and MAIT upgrades. According to the company, approvals came through PJM's 2025 RTEP open window process and were approved Feb. 12.

How much will FirstEnergy Transmission (FE) invest in the PJM-approved projects?

FirstEnergy Transmission will invest about $950 million to modernize lines, rebuild older lines and upgrade substations. According to the company, that total funds work by FET, ATSI and MAIT across Ohio and Pennsylvania.

What are the main components of the Grid Growth Ventures work in Ohio (FE)?

Grid Growth includes nearly 200 miles of new 765-kV lines plus about 30 miles of 345-kV lines. According to the company, Grid Growth's total cost is estimated at $1.2 billion, with FET equity investment of roughly $490 million.

What specific ATSI projects and costs did FirstEnergy (FE) announce?

ATSI is investing $294 million, including $251 million for a new Clark County substation and $43 million for breaker replacements and local line rebuilds. According to the company, these support regional reliability and Grid Growth work.

What MAIT upgrades did FirstEnergy (FE) outline for Pennsylvania?

MAIT plans $165 million of work, including $72 million to rebuild a 115-kV line into a double circuit and $93 million to upgrade and tie in existing 500-kV lines. According to the company, this improves capacity in York, Adams, Armstrong and Indiana counties.

How will the PJM-approved projects affect customers and reliability (FE)?

The projects are intended to reduce outages, support new businesses and prepare the grid for growth. According to the company, their transmission investments have already helped reduce high-voltage outages by 50% since 2014.