Firstenergy Corp Stock Price, News & Analysis

FirstEnergy Corp. (NYSE: FE) declared a quarterly dividend of 39 cents per share, remaining unchanged from previous periods. This dividend will be payable on March 1, 2023, to shareholders of record on February 7, 2023. The company's extensive electric distribution network serves states including Ohio, Pennsylvania, New Jersey, and more. Despite ongoing government investigations and potential risks affecting operations, FirstEnergy remains committed to operational excellence.

Potomac Edison, a subsidiary of FirstEnergy Corp (NYSE: FE), has launched a $1.4 million battery energy storage project in Myersville, Maryland, alongside two new electric vehicle (EV) fast-charging stations. The 500-kilowatt battery will power the charging stations during peak demand and outages, offering about eight hours of uninterrupted charging. This initiative is part of Maryland's Energy Storage Pilot Program and aims to enhance system reliability amid increasing EV adoption. The project is the first of two planned energy storage projects by Potomac Edison.

FirstEnergy Corp. (NYSE: FE) announced the construction of a new 138-kilovolt transmission line in Lorain County, Ohio, aimed at enhancing service reliability for approximately 28,000 customers. Valued at $24.7 million, the project encompasses seven miles of new power line and 20 miles of reconfigured existing infrastructure. The line, expected to be operational by May 2023, will provide an additional power source, helping to reduce outages and support growth. This initiative is part of the multi-year Energizing the Future program focused on upgrading FirstEnergy's transmission system.

FirstEnergy Corp. (NYSE:FE) announces its annual "Merry & Bright" Holiday Lights Sweepstakes, encouraging customers to showcase their outdoor lighting displays for a chance to win weekly prizes of $100 Amazon gift cards. The contest runs until December 16, with winners selected from FirstEnergy's 10 utility companies. In addition to the contest, FirstEnergy provides important safety tips for holiday decorating, emphasizing the need for safe installation of lights and avoiding hazards near power lines. Customers must be 18 years old and current FirstEnergy customers to participate.

FirstEnergy Corp. (NYSE: FE) has completed extensive pre-winter inspections and maintenance across its Ohio utilities, including Ohio Edison, The Illuminating Company, and Toledo Edison. This initiative aims to enhance service reliability during the anticipated cold weather, which is expected to increase electric usage. The company has invested over $500 million in smart grid enhancements since 2020, focusing on automated technology to prevent power outages. Inspections of nearly 7,200 miles of high-voltage transmission lines and proactive equipment checks are part of these efforts.

Jersey Central Power & Light (JCP&L), a subsidiary of FirstEnergy Corp. (NYSE: FE), has completed essential maintenance and inspections to prepare for the winter season across its 3,200-square-mile service area. This proactive approach aims to enhance service reliability amidst increased electricity demand and potential winter storms. Preparations included winterizing substations, inspecting power lines with thermal imaging, and trimming trees to avoid outages. JCP&L has also serviced vehicles for safe operations, while advising customers on energy-saving tips during the colder months.

Met-Ed, a subsidiary of FirstEnergy Corp. (NYSE: FE), is enhancing electric service reliability as winter approaches. Key preparations include inspections and maintenance of distribution and transmission systems. Substation electricians use thermovision cameras to detect potential issues, while helicopter inspections cover 1,400 miles of transmission lines. More than 2,700 miles of electric lines have been trimmed to prevent outages. Met-Ed also advises customers on energy-saving tips during colder weather. The company serves approximately 570,000 customers across 14 Pennsylvania counties.

On November 29, 2022, Mon Power, a subsidiary of FirstEnergy Corp. (NYSE: FE), announced its winter readiness strategy, focusing on inspections and maintenance in West Virginia. The company is preparing its equipment and vehicles to ensure reliable power during the cold months. This includes using thermovision technology for inspections and trimming trees along over 5,200 miles of power lines. Mon Power serves approximately 395,000 customers and emphasizes customer support through tips for energy savings and assistance programs.