Firstenergy Corp Stock Price, News & Analysis

On January 27, 2023, the FirstEnergy Foundation announced $50,000 in grants to three local nonprofits in the West Penn Power and Penn Power service areas. The recipients are:

• ACRES Project ($20,000) - Supports adults with autism through job skills and social opportunities.
• Military Community Support Project ($20,000) - Aims to enhance relationships between the military community and citizens.
• New Castle Public Library ($10,000) - Offers educational resources for community development.

Since 2016, the campaign has awarded over $500,000, underscoring FirstEnergy's commitment to community support.

On January 27, 2023, FirstEnergy Foundation announced a $20,000 grant to We Have Your Six, Inc., a nonprofit supporting U.S. veterans. This grant, part of the Gifts of the Season program, aids local nonprofits in enhancing community welfare within the Mon Power service area. The funding will help veterans secure housing, food, and healthcare. FirstEnergy has a longstanding commitment to veterans, employing over 1,000 military personnel and recognized as a military-friendly employer. Since 2016, the Gifts of the Season initiative has provided over $500,000 to community organizations.

FirstEnergy Corp. announces the completion of a 13-mile upgrade to a high-voltage transmission line in Carroll and Columbiana counties, Ohio. This project, part of a larger 64-mile initiative, enhances grid reliability and accommodates growing electricity demand. An investment of $39 million was made to replace old structures with steel, ensuring improved service for customers. The project is a segment of the Energizing the Future initiative, which has seen $9 billion invested since 2014 to enhance the transmission system and reduce outages. Future upgrades are set to continue in the region, illustrating FirstEnergy's commitment to infrastructure improvement.

FirstEnergy Corp. (NYSE: FE) announced a clean energy commitment from Harpers Ferry, allowing subsidiaries Mon Power and Potomac Edison to advance plans for five solar facilities. The initiative aims to generate 50 megawatts of solar energy, with conditional approval granted by the West Virginia Public Service Commission. The agreement includes a 100% subscription for streetlights and town hall energy usage and has garnered support from local government. The solar program is part of a 2020 legislative bill permitting utilities to develop renewable energy sources, enhancing West Virginia's attractiveness for business development.

FirstEnergy Corp. (NYSE: FE) encourages residential customers in Ohio, served by its subsidiaries Ohio Edison, The Illuminating Company, and Toledo Edison, to enroll in payment plans and apply for bill assistance programs due to ongoing economic challenges. Patricia Mullin, acting president of Ohio Operations, emphasizes the urgency for customers struggling to pay bills to contact the utility. Programs include the Percentage of Income Payment Plan (PIPP), Home Energy Assistance Program (HEAP), and emergency funds for those facing hardships. The Winter Reconnect Option allows service restoration for $175. Customers can find more assistance details online.

FirstEnergy's subsidiary, Jersey Central Power and Light (JCP&L), encourages residential customers in financial distress to enroll in payment plans and seek bill assistance. This initiative is crucial as many customers face economic challenges exacerbated by the pandemic. President Jim Fakult highlights the importance of contacting JCP&L for support options. Eligible programs include the Universal Service Fund, Low-Income Heating Energy Assistance Program, and Payment Assistance for Gas and Electric Program, which provide financial relief based on income levels. JCP&L serves about 1.1 million customers across New Jersey.