Firstenergy Corp Stock Price, News & Analysis

FirstEnergy Corp.'s subsidiary, Jersey Central Power & Light (JCP&L), is sponsoring the 2022 Climate Corps Fellowship program in partnership with Sustainable Jersey and EDF. This initiative places graduate fellows in local municipalities and schools to enhance energy efficiency. This year, six fellows were assigned to 17 municipalities and three school districts in various New Jersey counties, generating significant energy savings and carbon emission reductions. Past fellows achieved operational savings of $472,000 in Jackson Township alone, showcasing the program's positive impact on communities.

Mon Power, a subsidiary of FirstEnergy Corp. (NYSE: FE), is employing helicopters with aerial saws to trim trees along 445 miles of high-voltage power lines in West Virginia. This program, initiated in late May and expected to finish by September, aims to improve electrical clearances and reduce tree-related power outages, particularly during severe weather. Proactive vegetation management has led to a 40% reduction in total customer outage minutes since 2015. Mon Power serves approximately 395,000 customers in 34 counties in the region.

FirstEnergy Corp. (NYSE: FE) will announce its second quarter and first half of 2022 financial results after market close on July 26. Management will discuss these results in a conference call for analysts at 11 a.m. EDT on July 27, followed by a Q&A session. Interested parties can access a live webcast and view presentation materials on the company's Investor Information website. The presentation will be available for replay for up to a year.

FirstEnergy Corp. (NYSE: FE) has proposed a four-year investment plan, known as Grid Mod II, totaling $626 million to enhance smart grid technology in Ohio. This initiative aims to reduce power outages and improve service reliability for customers. Key upgrades include the installation of automated equipment on nearly 240 grid sections and 700,000 smart meters, contributing to a projected $280 million in net benefits. The plan, pending approval from the Public Utilities Commission of Ohio, would add approximately $2.40 to a typical residential customer's monthly bill.

Jersey Central Power & Light (JCP&L), a subsidiary of FirstEnergy Corp. (NYSE: FE), has introduced the EV Driven program in New Jersey, a $39.8 million initiative aimed at bolstering electric vehicle charging infrastructure. The program, approved by the New Jersey Board of Public Utilities, seeks to facilitate the state’s goal of registering 330,000 electric vehicles by 2025. Incentives include up to $1,500 for residential upgrades, $6,700 per commercial charger, and $25,000 for public DC fast chargers. The initiative aims to reduce emissions and enhance clean energy adoption.

FirstEnergy Corp. (NYSE: FE) has initiated construction of a new substation in Frederick County, Maryland, aimed at enhancing reliability for approximately 4,300 customers. Located on over nine acres in Jefferson, the substation will reduce the need for additional construction by tapping into an existing overhead transmission line. This project responds to rising power demand and is expected to be operational by early 2023. Additionally, Potomac Edison is investing in infrastructure upgrades, including replacing 50 miles of underground cable annually to improve service reliability.

FirstEnergy Corp. has appointed Joseph McClelland as vice president of External Affairs, effective July 18, 2022. With nearly 40 years in the energy sector, McClelland will oversee government relations, engaging with legislators on issues that affect the company and its customers. Previously, he served as director of the Office of Energy Infrastructure Security at FERC, focusing on security threats. FirstEnergy operates one of the largest investor-owned electric systems in the U.S., serving several states with over 24,000 miles of transmission lines.

FirstEnergy Corp. (NYSE: FE) urges the public to prioritize electrical safety during summer celebrations, particularly around the Fourth of July. Foil balloons and fireworks pose significant risks of power outages and damage to electrical systems, with nearly 60 outages attributed to foil balloons in recent months. The company recommends securing helium-filled balloons and avoiding the release of balloons outdoors. To prevent accidents, guidelines include avoiding power lines while handling kites and fireworks. FirstEnergy promotes its 'Stop. Look. Live.' safety campaign to enhance public awareness.

Penelec, a subsidiary of FirstEnergy Corp. (NYSE: FE), is investing in service reliability enhancements for over 400 customers in Millcreek Township, Erie County. The project involves replacing underground electric cable, transformers, and more, with completion expected this summer. This initiative is part of Penelec's $200 million Long Term Infrastructure Improvement Plans (LTIIP II) aimed at improving electric service reliability for 585,000 customers in Pennsylvania. New equipment is designed to last decades and facilitate easier repairs.