Firstenergy Corp Stock Price, News & Analysis

FirstEnergy Corp. reported Q3 2022 GAAP earnings of $334 million, or $0.58 per share, on revenue of $3.5 billion, staying within guidance. Operating earnings were $0.79 per share. Compared to Q3 2021, GAAP earnings decreased from $463 million ($0.85 per share) and revenue increased from $3.1 billion. Full-year GAAP earnings guidance updated to $1,145-$1,260 million, maintaining operating guidance of $1,315-$1,430 million, assuming normal weather. Key points included flat distribution deliveries and improved results in regulated transmission, despite rising operating expenses.

FirstEnergy Corp. (NYSE: FE) announced the appointment of John Hawkins as vice president of Operations Support, effective October 24, 2022. Hawkins succeeds David Karafa, who is retiring after 40 years. In his new role, Hawkins will oversee departments such as Workforce Development and Emergency Preparedness. With extensive experience from Entergy Louisiana and Florida Power & Light, Hawkins is expected to enhance FirstEnergy's operational performance and smart grid investments. His educational background includes a degree from Purdue University and an MBA from Indiana University.

FirstEnergy Corp. (NYSE: FE) underscores the importance of safety during the Halloween season in a recent announcement. The company advises the public to take precautions while decorating to prevent electrical hazards. Key safety tips include avoiding decorations near utility equipment, inspecting electrical cords, using proper light clips, and opting for UL-approved lights. Additionally, FirstEnergy emphasizes safe practices for trick-or-treating, such as keeping paths clear and being visible. Customers are encouraged to report streetlight issues promptly. For further safety information, visit FirstEnergy's public safety campaign online.

FirstEnergy Corp. (NYSE: FE) announced a Request for Proposal (RFP) to secure long-term solar power purchase agreements (PPAs) for its four Pennsylvania utilities. The firm seeks bids to procure up to 20 megawatts (MW) of solar capacity during the RFP process, managed by The Brattle Group. Key dates include qualifying applications by Nov. 7, 2022, and bid submissions by Dec. 5, 2022. The projects must align with Pennsylvania's Alternative Energy Portfolio Standards Act. For more details, visit FirstEnergy's website.

FirstEnergy Corp. (NYSE: FE) will announce its third quarter and first nine months of 2022 financial results on October 25, following market closure. A conference call is scheduled for 11 a.m. EDT on October 26 to discuss the results, including a question-and-answer session. Investors can listen to the live webcast on FirstEnergy's Investor Information website. Supporting materials will be available post-announcement. The company emphasizes integrity, safety, and operational excellence, serving customers across multiple states.

Jersey Central Power & Light (JCP&L), a subsidiary of FirstEnergy Corp. (NYSE: FE), is offering Google Nest thermostats for just $1 to customers until December 31, 2022. This initiative aims to help New Jersey residents manage rising energy costs, attributed to increasing temperatures and inflation. Studies show that Nest thermostats can save users 10%-12% on heating and 15% on cooling bills. The promotion is part of JCP&L's efforts to enhance energy efficiency and accessibility for all customers.

FirstEnergy Corp. (NYSE: FE), based in Akron, Ohio, announced a Request for Proposal (RFP) to buy 470,000 Ohio-compliant Renewable Energy Credits (RECs) for its utilities, including Ohio Edison, The Illuminating Company, and Toledo Edison. This initiative aims to meet the 2022 renewable energy targets set by Ohio's alternative energy law. The RFP is managed by Guidehouse Inc. and focuses on RECs generated between Jan. 1, 2020, and Dec. 31, 2022. Interested bidders must meet credit qualifications, with proposals due by Nov. 9, 2022.

FirstEnergy Corp. (NYSE: FE) announces the completion of smart grid upgrades in Ashtabula County, Ohio, impacting nearly 18,000 customers. This project included the installation of new automated equipment in substations and power lines, enhancing service reliability during severe weather. A new four-year, $626 million plan (Ohio Grid Mod II) has been filed to further expand smart grid technology investments, building on previous upgrades. The plan aims to introduce electric vehicle charging incentives and improve customer service through advanced technology.