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) is a utility holding company whose electric distribution companies serve more than six million customers across Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. Its transmission subsidiaries operate approximately 24,000 miles of transmission lines connecting the Midwest and Mid-Atlantic regions. The news surrounding FirstEnergy reflects its role in nuclear electric power generation, electric distribution and transmission within the utilities sector.
This news page brings together company-issued updates and other coverage related to FE. Readers can find announcements about quarterly and annual financial results, earnings teleconferences and investor presentations, often referenced in Form 8-K filings and news releases. These items provide insight into how management views performance, uses GAAP and non-GAAP measures and communicates core earnings guidance and strategic priorities.
Because FirstEnergy operates regulated utilities, a significant portion of its news flow centers on regulatory developments and settlements. Examples include Public Utilities Commission of Ohio (PUCO) proceedings and comprehensive settlement agreements that address riders, audits and customer restitution and refunds for Ohio Edison, The Illuminating Company and Toledo Edison customers. Such updates can be important for understanding potential impacts on rates, customer bills and regulatory relationships.
Operational and infrastructure news is another key theme. FirstEnergy and its subsidiaries, including entities like Mid-Atlantic Interstate Transmission and Jersey Central Power & Light, issue releases on grid modernization projects, high-voltage line rebuilds, substation upgrades and other investments intended to enhance reliability and support growth in local communities.
In addition, the FirstEnergy Foundation regularly announces “Gifts of the Season” and other grants to nonprofits in the company’s service territories, highlighting community and philanthropic initiatives. Investors, customers and observers can use this news page to follow developments across financial, regulatory, operational and community dimensions of FirstEnergy’s business.
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.
FirstEnergy Corp. (NYSE: FE) encourages struggling residential customers in Pennsylvania, served by Penelec, Penn Power, Met-Ed, and West Penn Power, to enroll in payment plans and bill assistance programs.
Amid ongoing financial challenges due to the pandemic, the company highlights multiple support initiatives including the Pennsylvania Customer Assistance Program (PCAP) and the Low Income Home Energy Assistance Program (LIHEAP). Customers are urged to contact their utility provider for enrollment and assistance options. FirstEnergy aims to help mitigate rising customer debt and ensure continued service during winter months.
FirstEnergy Corp. (NYSE: FE) subsidiary Potomac Edison is urging residential customers facing financial challenges to enroll in payment plans and bill assistance programs. Linda Moss, president of Maryland Operations for FirstEnergy, noted the ongoing economic uncertainty affecting many customers. Eligible programs include the Electric Universal Service Program, Utility Service Protection Program, and Maryland Energy Assistance Program. Customers can also access the 2-1-1 Helpline for local resources. Potomac Edison serves approximately 275,000 customers across Maryland and the Eastern Panhandle of West Virginia, emphasizing its commitment to customer support during tough economic times.
FirstEnergy Corp. (NYSE: FE) encourages its West Virginia residential customers facing financial difficulties to enroll in various bill assistance programs. Programs include the Low Income Energy Assistance Program (LIEAP), Emergency Assistance Program, and Dollar Energy Fund, all aimed at preventing service termination for nonpayment. James Myers, president of West Virginia Operations, highlights the importance of reaching out to the utility for options during winter. Mon Power serves around 395,000 customers, while Potomac Edison serves about 151,000 in the area. More information can be accessed through local DHR offices or the FirstEnergy website.
FirstEnergy Corp. (NYSE: FE) has been awarded the Emergency Recovery Award by the Edison Electric Institute (EEI) for its exceptional response to power outages affecting over 287,000 customers in Ohio and West Virginia due to severe weather in June 2022. This marks the seventeenth consecutive year FirstEnergy has received recognition for its storm response. The award was presented on January 11, 2023, after more than 1,800 employees worked to restore power, replacing 263 poles and 149 transformers under challenging conditions.
FirstEnergy Corp. (NYSE: FE) will announce its financial results for Q4 and full year 2022 after market close on February 13. A conference call for financial analysts is set for 11 a.m. EST on February 14, featuring a Q&A session. Interested parties can access the live webcast and presentation on FirstEnergy's Investor Information website. The company is recognized for its commitment to integrity, reliability, and operational excellence, serving customers across several states including Ohio and Pennsylvania.