New Substation Energized to Deliver Safe, Reliable Power to Potomac Edison Customers in Frederick County
On March 16, 2023, Potomac Edison, a subsidiary of FirstEnergy Corp. (NYSE: FE), announced the energization of a new substation in Frederick County, Maryland.
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Rhea-AI Summary
On March 16, 2023, Potomac Edison, a subsidiary of FirstEnergy Corp. (NYSE: FE), announced the energization of a new substation in Frederick County, Maryland. This development aims to enhance grid reliability for approximately 7,900 customers in the Brunswick, Jefferson, and Petersville areas. Driven by a significant population increase of 37% since 2010, this $9.9 million investment is part of ongoing efforts to improve electric service and minimize outages. The Maryland Public Service Commission has approved further reliability projects for 2023.
Positive
- Energization of a new substation enhances reliability for 7,900 customers.
- Investment of $9.9 million in 2022 for service reliability projects.
- Approval for additional reliability projects in 2023.
Negative
- None.
Details
News Market Reaction – FE
The recorded move for FE in the trading session of this news was +1.08%.
Data tracked by StockTitan Argus. Session date unavailable.
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Population growth and new housing developments in
The new substation, which sits on nine acres of land in
"Increasing the capacity of the local electric system through this project will help reduce extended outages for thousands of customers we serve," said
Potomac Edison invested
Potomac Edison serves approximately 280,000 customers in all or parts of
FirstEnergy is dedicated to integrity, safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in
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