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. reports developments for an investor-owned electric utility holding company with distribution companies in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York and transmission subsidiaries that connect the Midwest and Mid-Atlantic regions.
Recurring updates cover GAAP and core earnings, distribution and transmission rate-base growth, capital spending for grid reliability, and regulatory proceedings such as Ohio distribution rate plans. Company news also covers projects by American Transmission Systems, Potomac Edison, Ohio Edison, Toledo Edison and The Illuminating Company, including line rebuilds, tree trimming, time-of-use rates, storm restoration and operational leadership changes.
FirstEnergy Pennsylvania Electric Company (FE PA), a subsidiary of FirstEnergy Corp. (NYSE: FE), recently held its annual storm restoration drill to test its storm response processes. The drill, conducted both remotely and in-person, aimed to prepare employees for severe weather events, focusing on scenarios involving strong thunderstorms with wind gusts exceeding 70 mph. Participants tackled simulated challenges such as widespread power outages affecting over 400,000 customers and significant damage to substations and communication lines. The exercise utilized the Incident Command System (ICS) to coordinate efficient response efforts. Met-Ed, operating in eastern Pennsylvania, serves 592,000 customers and emphasizes service reliability through initiatives like tree trimming and infrastructure hardening.
FirstEnergy (NYSE: FE) emphasizes the importance of electrical safety as summer begins, coinciding with National Electrical Safety Month. The company warns against the hazards of foil balloons, drones, and fireworks near power lines.
Foil balloons caused over 35 power outages in recent months across FirstEnergy's service area. The company advises securing these balloons to prevent disruptions and urges customers to leave fireworks displays to professionals. Additional tips include flying kites and drones away from power lines, and ensuring electrical devices are dry and kept away from water sources.
FirstEnergy's
FirstEnergy Corp. (NYSE: FE) has appointed Deandra Williams-Lewis as Chief Privacy Officer, effective May 19, while she continues her role as Director of Ethics & Compliance. Williams-Lewis will manage sensitive customer and employee information and oversee ethics and compliance risks. She will report to Antonio Fernández, VP & Chief Ethics & Compliance Officer. Williams-Lewis joined FirstEnergy in 2021 and has previously worked at ReliabilityFirst, GE Lighting, KPMG, and others. FirstEnergy serves over 6 million customers in several states and operates a vast network of transmission lines.
Ohio Edison, a subsidiary of FirstEnergy Corp., has initiated a $26 million tree-trimming program aimed at enhancing electric service reliability across northeast and northcentral Ohio. This initiative seeks to prevent power outages caused by trees, especially during severe spring and summer storms. Since the start of the year, contractors have trimmed trees along 600 miles of power lines, with an additional 4,200 miles planned for completion by year-end. The program includes vegetation inspections and tree removals to maintain safe clearances. This annual effort involves certified forestry experts and uses advanced techniques like aerial saws for hard-to-access areas. The initiative spans several Ohio counties and aims to serve over 1 million customers more reliably.
Toledo Edison, a FirstEnergy Corp. subsidiary, is investing $7 million in tree trimming and vegetation management across northwest Ohio to enhance electric service reliability and prevent power outages during severe weather. The initiative includes trimming along 1,850 miles of power lines by year-end, following 100 miles already completed. The work spans multiple counties including Defiance, Fulton, Henry, Lucas, and Sandusky. Helicopters with aerial saws are used for hard-to-access areas. This project is part of an ongoing annual effort to maintain power systems and involves collaboration with municipalities and certified forestry experts.
The Illuminating Company, a FirstEnergy subsidiary, is investing $19.7 million in tree trimming and vegetation management across northeast Ohio. This initiative aims to enhance electric service reliability and prevent outages during severe weather. So far, 100 miles of power lines have been serviced, with a goal of 1,750 miles by year-end. This annual activity, featuring ground and aerial trimming, is important for maintaining clearances around power lines. The company serves over 750,000 customers in various counties, ensuring safety and reliability in electric service.
FirstEnergy Corp.'s subsidiary Potomac Edison is investing $14.7 million in tree trimming and vegetation management in Maryland.
The initiative aims to enhance power service reliability by preventing tree-related outages during severe weather. Since the beginning of the year, contractors have trimmed trees along 300 miles of power lines, with a goal to cover an additional 1,800 miles by year-end.
This program involves notifying municipalities and residents before work begins. Potomac Edison serves about 285,000 customers in Maryland.
FirstEnergy's Toledo Edison has initiated a $342,000 project to install 1,650 LED streetlights in Sylvania, Ohio. The new LEDs are expected to save the city almost $77,000 in annual electricity costs, being 50% more efficient than previous lights and lasting up to 20 years compared to 3-5 years for the old lights. The return on investment is estimated at 4.5 years. Improved visibility and reduced crime rates have been observed in areas with similar installations. The project aims to enhance security and cost-efficiency for Sylvania residents and businesses.
FirstEnergy Corp. (NYSE: FE) is using helicopters equipped with infrared technology to conduct aerial inspections of transmission lines to ensure they remain clear of trees and vegetation. The inspections cover nearly 7,000 miles of lines in multiple states and help prevent power outages. The company's commitment to safety, reliability, and operational excellence is showcased through this proactive approach.
American Transmission Systems, Inc. (ATSI), a subsidiary of FirstEnergy Corp. (NYSE: FE), has started construction to upgrade a 138-kilovolt substation in Lucas County's Springfield Township and reconfigure connecting high-voltage power lines. The project will benefit nearly 23,000 Toledo Edison customers by enhancing reliability, reducing power outages, and allowing for easier maintenance. The $24 million project is part of the Energize365 program, aimed at creating a smarter, more secure grid to meet future energy needs.