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) delivers essential electricity services to 6 million customers across six Mid-Atlantic and Midwestern states through its regulated transmission and distribution operations. This news hub provides investors and stakeholders with authoritative coverage of FE's operational developments, financial disclosures, and strategic initiatives.
Access timely updates on earnings reports, grid modernization projects, regulatory filings, and leadership announcements. Our curated collection features official press releases alongside third-party analysis of FE's infrastructure investments, rate case proceedings, and reliability enhancement programs.
Key coverage areas include capital expenditure plans, dividend declarations, storm response updates, and compliance milestones. Bookmark this page for centralized access to FE's latest operational statistics, environmental initiatives, and financial performance metrics - all critical for informed energy sector analysis.
Penn Power, a subsidiary of FirstEnergy Corp. (NYSE: FE), is enhancing the electric infrastructure in Mercer and Crawford counties, targeting over 15,000 customers. This project, part of the second phase of the Long Term Infrastructure Improvement Plan, aims to reduce service disruptions, especially during severe weather. New automated equipment, such as reclosing devices and voltage regulators, will streamline power restoration. The initiative has already led to a 20% reduction in outages in previously upgraded areas, benefiting both residential and business customers.
FirstEnergy Corp. (NYSE: FE) announced on June 14, 2022, the results of its cash tender offer, increasing the maximum tender amount from $800 million to $1.1 billion. This decision aligns with the company’s strategy to reduce debt at the holding company level. The early settlement date for validly tendered notes is set for June 15, 2022. The tender offer will expire on June 28, 2022, unless extended. The company aims to enhance its financial standing by retiring specific outstanding debt obligations.
On June 9, 2022, FirstEnergy Corp. (FE) announced amendments to its previously disclosed cash tender offer for up to $800 million in outstanding debt securities. The amendments extend key deadlines and modify the fixed spread for the 7.375% Notes due 2031 and 4.85% Notes due 2047. FirstEnergy aims to reduce leverage and enhance its financial stability. The financing conditions were satisfied following a minority stake sale in FirstEnergy Transmission, LLC on May 31, 2022. Investors can find more details in the Offer to Purchase dated May 25, 2022.
FirstEnergy Corp. has finalized a $2.375 billion sale of a 19.9% stake in its subsidiary, FirstEnergy Transmission, LLC, to Brookfield Super-Core Infrastructure Partners. This transaction strengthens FirstEnergy's balance sheet, retaining an 80.1% stake in FET. Along with a previous $1 billion equity investment from Blackstone, the total proceeds of $3.4 billion will fund a sustainable capital investment program of $17 billion targeting grid modernization and clean energy initiatives from 2021 to 2025.
FirstEnergy Corp. (NYSE: FE) announced a cash Tender Offer to purchase up to $800 million of its outstanding 7.375% Notes, due 2031, and 4.85% Notes, due 2047. The offer will expire on June 23, 2022, unless extended. The acceptance of notes is subject to conditions, including the sale of a minority interest in FirstEnergy Transmission, LLC. Holders can withdraw their notes until 5:00 PM on June 8, 2022. Barclays and Morgan Stanley are acting as dealer managers for the offer.
Mon Power and Potomac Edison, subsidiaries of FirstEnergy Corp. (NYSE: FE), are launching a solar renewable energy initiative in West Virginia. They are accepting commitments for solar renewable energy credits (SRECs) from five planned solar facilities totaling 50 megawatts. The initiative aims to generate over 87,000 SRECs annually and is expected to support economic development in the region. Customers can subscribe for SRECs at a cost of 4 cents per kilowatt hour, with options for residential and commercial customers. Final construction awaits further commission approval.
FirstEnergy Corp. (NYSE: FE) held its 2022 Annual Meeting, where CEO Steven E. Strah emphasized the company's commitment to innovation and sustainability. With a $17 billion investment plan from 2021 to 2025, FirstEnergy aims to enhance its grid and embrace renewable technologies. Shareholders reelected 10 directors and welcomed new members to the board. However, proposals for labor practice audits and reducing shareholder meeting thresholds were not approved. The new Board chair is John W. Somerhalder, with Lisa Winston Hicks serving as lead independent director.
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