Firstenergy Corp Stock Price, News & Analysis

FirstEnergy's subsidiary, Mon Power, has launched its 2022 tree-trimming program in West Virginia, targeting nearly 5,200 miles of power lines. This initiative, part of a $58 million investment, aims to enhance service reliability and reduce power outages due to tree-related incidents. Since 2014, Mon Power has cleared over 31,000 miles and trimmed more than 3.7 million trees, leading to a 40% decrease in customer outage minutes. Additionally, a $10.5 million program focuses on removing deteriorated ash trees affected by the Emerald Ash Borer.

FirstEnergy Corp. (NYSE: FE) subsidiary Met-Ed is executing a tree-trimming program across eastern Pennsylvania, covering nearly 3,200 miles of power lines to enhance electric service reliability. As of May 3, 2022, around 500 miles have been completed as part of a $30 million vegetation management initiative for 2022. The program aims to reduce tree-related outages, having successfully reduced service interruptions by 8% in 2021. Work includes pruning and removing hazardous trees, with certified experts managing the processes.

FirstEnergy Corp. (NYSE: FE) announces a $40 million tree-trimming program by its subsidiary Jersey Central Power & Light (JCP&L) aimed at enhancing service reliability. Covering 3,400 miles of power lines, the initiative includes pruning to reduce outages caused by trees during severe weather. Already, 700 miles have been trimmed since January, with 2,700 miles expected by year-end. Additionally, nearly 20,000 ash trees affected by the Emerald Ash Borer have been removed since 2017. The proactive effort is designed to keep electricity flowing to JCP&L's 1.1 million customers.

Penelec, a subsidiary of FirstEnergy Corp. (NYSE: FE), is actively engaging in tree-trimming efforts across Pennsylvania to enhance electric service reliability. As part of a $37.7 million vegetation management program, approximately 700 miles of power lines have been cleared this year, with 3,500 additional miles planned by year-end. The proactive measures aim to reduce tree-related outages during severe weather, ensuring safe clearances around electrical equipment. Penelec serves about 585,000 customers across 17,600 square miles of the state.

FirstEnergy Corp. has donated $100,000 to Lunch Break, a food and social services resource center in Red Bank, New Jersey, to support its "Renew the Promise of Hope Capital Campaign." This initiative aims to renovate and expand facilities to meet the increasing needs of the Monmouth County area. In 2021, Lunch Break served nearly 90,000 meals and distributed over $900,000 in COVID-19 emergency funds. The donation demonstrates FirstEnergy's commitment to community support and involvement.

FirstEnergy has donated 300 trees to Mill Creek MetroParks in Mahoning County, Ohio, to celebrate Earth and Arbor Days. This initiative, part of a larger commitment to environmental sustainability, has seen the company plant over 17,000 trees since April 2021, with plans to plant an additional 14,000 this spring. The tree-planting event involved employee volunteers and aims to restore forested habitats. The company will also donate 400 trees to the Poland Municipal Forest to celebrate Arbor Day, reflecting its ongoing commitment to reducing carbon footprint and supporting community efforts.

FirstEnergy Corp. announced the construction of a new transmission substation in Ashland County, Ohio, through its subsidiary American Transmission Systems, Inc. This $11.6 million project, which began in September 2021, aims to meet future energy demands and enhance service reliability for over 22,000 Ohio Edison customers. The substation, covering 89,500 square feet, will connect several high-voltage lines, improving flexibility and reducing outage frequency. Completion is targeted for August 2022 as part of the multi-year Energizing the Future initiative, which has already reduced equipment-related outages by 50% in Ohio.