Firstenergy Corp Stock Price, News & Analysis

FirstEnergy Corp. (NYSE: FE) subsidiary Mon Power is upgrading equipment at eight transmission substations in West Virginia to enhance electric service for over 13,000 customers. The project involves replacing existing equipment with new communication equipment and electrical relays to reduce the frequency and severity of power outages. The upgrades are taking place in Preston, Wood, Taylor, Roane, Braxton, and Hancock counties, with completion expected by year-end.

This initiative is part of FirstEnergy's Energize365 program, a multi-year grid evolution plan with planned investments of $26 billion between 2024 and 2028. The program aims to create a smarter, more secure grid to meet future challenges, including electric vehicle adoption and clean energy integration.

CRA International (NASDAQ: CRAI) has announced an upcoming auction process for FirstEnergy Corp.'s (NYSE: FE) Ohio subsidiaries to procure full requirements service for their Standard Service Offer customers. The auction, scheduled for October 1, 2024, will use a descending-price clock format and will be managed by CRA International as the Auction Manager.

Key dates include:

• Information Session for prospective bidders: August 21, 2024
• Part 1 Applications acceptance: August 22 - September 3, 2024
• Part 2 Application submission window: Begins September 9, 2024

The auction process is subject to approval from the Public Utilities Commission of Ohio (PUCO). Interested parties can find more information on the Auction Information Website at firstenergycbp.com.

Jersey Central Power & Light (JCP&L), a FirstEnergy Corp. (NYSE: FE) company, has installed 64 artificial bat roosts along transmission rights-of-way in New Jersey as part of a collaborative research study with the Electric Power Research Institute (EPRI). The project aims to protect endangered bat species, including the Indiana, northern long-eared, and little brown bats, by providing alternative roosting habitats. The 16-foot tall structures are built on wooden posts and placed strategically in Warren, Morris, and Union counties.

EPRI researchers will monitor the roosts for two years using acoustic monitors and guano catchers to assess their effectiveness and identify ideal conditions for bat occupation. This initiative is part of JCP&L's ongoing efforts to protect wildlife, which also includes safely relocating osprey nests and monitoring over 60 nesting sites this year.

FirstEnergy Corp. (NYSE: FE) has reached an agreement with the Office of the Ohio Attorney General and the Office of the Summit County Prosecutor to resolve all outstanding proceedings between the parties, effective Aug. 12, 2024. The resolution acknowledges FirstEnergy's efforts to establish a highly effective compliance program and instill a culture of ethics and integrity throughout the organization.

CEO Brian X. Tierney emphasized that FirstEnergy, under new leadership, is now a stronger organization focused on investing in its regulated electric companies to improve customer experience and meet future energy needs. The company operates one of the nation's largest investor-owned electric systems, serving customers across six states and managing approximately 24,000 miles of transmission lines.

FirstEnergy (FE) has announced that power has been restored to nearly 90% of Illuminating Company customers affected by a historic storm, with less than 35,000 remaining without service. The company expects to restore power to most customers sooner than the original global estimate of Wednesday, Aug. 14, thanks to the efforts of over 7,500 storm responders working around the clock.

FirstEnergy has released community-specific Estimated Times of Restoration (ETRs) for impacted counties, including Ashtabula, Cuyahoga, Geauga, Lake, and Lorain. Most communities are expected to have power restored by Monday, Aug. 12, with specific times varying between 11 a.m. and 11 p.m. Customers can check their individual ETRs by logging into their account on firstenergycorp.com or texting STAT to 544487 if registered for text alerts.

FirstEnergy (NYSE: FE) crews, along with support from 17 states, are working to restore power to customers in Greater Cleveland following historic storms on Aug. 6. Over 627,700 customers across FirstEnergy's footprint lost power, with approximately 430,000 in Northeast Ohio. As of 10 a.m., The Illuminating Company has restored power to 198,400 of 310,000 affected customers, with 112,000 still without service. The global Estimated Time of Restoration (ETR) is Wednesday, Aug. 14 at 11:30 p.m., though most customers will have service restored earlier. Ohio Edison has restored power to over 99% of the 118,100 affected customers, with the remaining 600 expected to have service by 11:00 p.m. tonight.

FirstEnergy Corp. (NYSE: FE) subsidiary Mon Power will demonstrate electrical safety at the State Fair of West Virginia from August 12-16, 2024. Located at 947 Maplewood Ave., the live demos will occur at 10 a.m. and 1 p.m. daily. The demos will showcase the dangers of electricity using a trailer with 7,200-kilovolt power lines and typical neighborhood electrical equipment.

Attendees will learn to recognize and avoid hazardous conditions and common causes of power outages. Facilitators will simulate electrical arcs to illustrate the risks of contact with live wires.

This initiative is part of FirstEnergy's "Stop. Look. Live." safety campaign. Mon Power serves 395,000 customers in 34 counties in West Virginia. For more information, visit statefairofwv.com.

FirstEnergy Corp. (NYSE:FE) is actively restoring power to approximately 194,500 customers in Northeast Ohio following severe thunderstorms, wind, and tornados. Over 6,000 workers are engaged in round-the-clock restoration efforts, which are expected to continue into next week. Key points include:

- More than 627,700 customers across FirstEnergy's footprint lost power due to the storm.
- Four confirmed tornados with winds between 100-110 mph struck in the service areas.
- To date, over 350 broken poles have been identified and are being replaced.
- Five staging sites have been set up to handle the influx of outside workers.
- Free water and ice are available for customers without power.

The Illuminating Company expects to restore power to the majority of its 192,300 affected customers by August 14, while Ohio Edison aims to complete restoration for its remaining 2,200 customers by August 10.

FirstEnergy Corp. (NYSE: FE) is preparing for potential service interruptions due to the remnants of Tropical Storm Debby, expected to impact Maryland, New Jersey, Pennsylvania, and West Virginia starting Friday. The storm is forecast to bring heavy rains of 1-3 inches, with some areas receiving up to 5 inches, and wind gusts of 25-35 mph, potentially reaching 40 mph in some regions. FirstEnergy is implementing storm response plans, including 16-hour shifts for personnel, deploying additional crews, and enacting flood mitigation measures. The company prioritizes safety and prompt restoration of electric service, focusing on widespread outages first. Customers are encouraged to report outages and prepare for potential power disruptions.