Welcome to our dedicated page for Firstenergy news (Ticker: FE), a resource for investors and traders seeking the latest updates and insights on Firstenergy stock.
FirstEnergy Corp. (NYSE: FE) is a utility holding company whose electric distribution companies serve more than six million customers across Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. Its transmission subsidiaries operate approximately 24,000 miles of transmission lines connecting the Midwest and Mid-Atlantic regions. The news surrounding FirstEnergy reflects its role in nuclear electric power generation, electric distribution and transmission within the utilities sector.
This news page brings together company-issued updates and other coverage related to FE. Readers can find announcements about quarterly and annual financial results, earnings teleconferences and investor presentations, often referenced in Form 8-K filings and news releases. These items provide insight into how management views performance, uses GAAP and non-GAAP measures and communicates core earnings guidance and strategic priorities.
Because FirstEnergy operates regulated utilities, a significant portion of its news flow centers on regulatory developments and settlements. Examples include Public Utilities Commission of Ohio (PUCO) proceedings and comprehensive settlement agreements that address riders, audits and customer restitution and refunds for Ohio Edison, The Illuminating Company and Toledo Edison customers. Such updates can be important for understanding potential impacts on rates, customer bills and regulatory relationships.
Operational and infrastructure news is another key theme. FirstEnergy and its subsidiaries, including entities like Mid-Atlantic Interstate Transmission and Jersey Central Power & Light, issue releases on grid modernization projects, high-voltage line rebuilds, substation upgrades and other investments intended to enhance reliability and support growth in local communities.
In addition, the FirstEnergy Foundation regularly announces “Gifts of the Season” and other grants to nonprofits in the company’s service territories, highlighting community and philanthropic initiatives. Investors, customers and observers can use this news page to follow developments across financial, regulatory, operational and community dimensions of FirstEnergy’s business.
FirstEnergy Corp. (NYSE: FE) has appointed Mark Andrade as Vice President, Enterprise Technology, effective Dec. 2. Andrade will lead the company's technology modernization and digital transformation initiatives, reporting to John Combs, Senior Vice President, Shared Services. He brings over 35 years of experience, most recently serving as Executive Director, Chief Technology Officer, Enterprise Platforms at JPMorgan Chase & Co. FirstEnergy's electric distribution companies serve more than 6 million customers across six states and operate over 24,000 miles of transmission lines connecting the Midwest and Mid-Atlantic regions.
CRA International (NASDAQ: CRAI) announced an upcoming auction process for FirstEnergy Corp.'s (NYSE: FE) Ohio subsidiaries to procure full requirements service for Standard Service Offer customers. The auction, scheduled for January 21, 2025, will utilize a descending-price clock format and is approved by the Public Utilities Commission of Ohio.
An Information Session for prospective bidders will be held on December 3, 2024 via Zoom. The Part 1 Applications window opens on December 4, 2024, with submissions due by December 17, 2024. Successful applicants can begin Part 2 Applications from December 23, 2024.
JCP&L, a FirstEnergy Corp. (NYSE: FE) subsidiary, is undertaking a $12.5 million project to replace an underwater high-voltage power line serving New Jersey's barrier islands. The new 34.5-kilovolt line will be one of four power sources serving over 13,000 customers across multiple beach communities.
The project involves installing a 7,500-foot submarine cable using an environmentally friendly 12-ton sled that creates minimal disruption to aquatic life. The sled uses water jets at 150 PSI to create a trench one foot wide and over 10 feet deep. A barge will transport the cable equipment while pulling the sled at speeds up to 10 feet per minute. The project is expected to be completed by mid-December.
FirstEnergy Corp. (NYSE: FE) is raising awareness about utility scams on Utility Scam Awareness Day, November 20, 2024. The company has received over 3,400 scam reports in 2024, with many more going unreported. Scammers typically increase their activity during winter months, exploiting customers' fears of service disconnection.
The company provides several tips to avoid scams, including: being wary of unusual payment methods like cryptocurrencies, verifying FirstEnergy employee identification, avoiding door-to-door solicitors, and being cautious of spoofed caller IDs. FirstEnergy emphasizes that legitimate disconnection notices are sent in writing with clear instructions, and customers should only use established payment methods.
FirstEnergy Corp. (NYSE: FE) has issued important safety guidelines for holiday decorating to prevent electrical hazards and fire risks. According to the National Fire Protection Association, holiday decorations cause an average of 835 home fires annually, resulting in $14 million in property damage. The company emphasizes keeping decorations and equipment at least 10 feet from power lines, using UL-approved lights, proper inspection of decorations, and safe installation practices. Key recommendations include using GFCI outlets for outdoor lights, avoiding overloaded extension cords, and maintaining proper distance from flammable items.
FirstEnergy Corp. (NYSE: FE) has secured a $50 million federal grant from the U.S. Department of Energy's Grid Deployment Office for system upgrades totaling nearly $127 million. The projects will enhance electric service reliability for over 53,000 Mon Power and Potomac Edison customers across 19 counties in West Virginia and Maryland. The upgrades, set to complete by late 2029, include installation of smart devices, automation projects, and new power lines. The improvements will benefit approximately 50,660 customers in West Virginia and 2,500 in Maryland, including over 450 critical facilities. The project also includes a new four-year apprenticeship program with training centers in Williamsport, MD, and Fairmont, WV.
JCP&L, a FirstEnergy Corp. (NYSE: FE) subsidiary, is executing a $1.75 million power line relocation project in Bernardsville, Somerset County. The project involves moving lines from the New Jersey Transit railroad tracks to Route 202/Mine Brook Road, with 1,500 feet being installed underground and 1,400 feet of new overhead wires being added. The upgrade includes installing stronger wires and supporting regional industrial growth. The project, prompted by accessibility issues and tornado damage in June 2023, will enhance service reliability for customers in Bernardsville and nearby Bedminster Township by providing backup power sources and reducing demand on the Greater Crossroads substation.
FirstEnergy Corp. (NYSE: FE) has been named a Military Friendly® Company for the ninth time in 10 years, receiving four distinct awards from the national military support organization. The company earned a Silver Award as a Military Friendly® Employer, along with designations for Military Friendly® Company, Spouse Employer, and Supplier Diversity Program.
Through its Veterans and Allies Employee Business Resource Group (EBRG), FirstEnergy has raised over $100,000 for military support organizations since 2016. The company maintains a strong commitment to veterans through recruitment, comprehensive benefits, and development opportunities. This recognition marks FirstEnergy's 14th Military Friendly Employer award in 16 years.
FirstEnergy Corp. (NYSE: FE) has announced two key executive appointments. Karen Sagot will become Vice President of Investor Relations effective Nov. 10, leading the company's investor relations strategy and communications. She brings 20 years of finance experience, most recently as Head of Investor Relations at Enphase Energy. Sean Davies will assume the role of Vice President of Continuous Improvement effective Nov. 18, focusing on driving innovation and operational efficiency. Davies joins from J.P. Morgan Chase with over 30 years of experience in transformation and operational excellence.
JCP&L, a FirstEnergy Corp. (NYSE: FE) subsidiary, received approval from New Jersey BPU to expand its energy efficiency programs. The two-and-a-half-year initiative includes expanded residential, commercial, and industrial offerings such as whole home assessments, HVAC incentives, and building decarbonization support. The program introduces zero-interest financing for qualifying customers across all sectors. Residential customers using 777 kWh monthly will see a rate increase of $1.06 (0.8%) in the first year, rising to $4.03 (3%) by the final program year, while maintaining the lowest rates among New Jersey's regulated electric distributors.