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.
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.
West Penn Power, a subsidiary of FirstEnergy, is enhancing its distribution system in Butler County, benefiting approximately 15,000 customers by reducing power outages, especially during severe weather. The enhancements include replacing worn equipment, repairing underground lines, and installing protective devices on power lines. Over $100 million has been invested since 2016, with a $147 million Long Term Infrastructure Improvement Plan aimed at improving electric service reliability. This initiative also complements ongoing developments by sister utility Penn Power to accommodate a growing population and energy demands.
FirstEnergy Corp. has donated 500 trees to the City of Rittman's William T. Robertson Nature Preserve on May 6, 2022. This initiative continues its commitment to environmental sustainability, with over 17,000 trees planted since April 2021 and plans to plant more than 14,000 trees this spring. The project, led by FirstEnergy's Green Team, supports local ecosystems and enhances community spaces. Additionally, $41,000 was donated for a renewable energy lab at the preserve in December 2021.
Penelec, a subsidiary of FirstEnergy Corp. (NYSE: FE), has initiated a $300,000 project to rejuvenate underground power lines in Girard Township, Erie County. Beginning on May 4, 2022, this innovative injection process uses a silicone-based fluid to extend the life of existing lines by up to 30 years, benefiting 380 residential customers and local businesses. Instead of replacing over 6 miles of underground cable, this method minimizes excavation while enhancing service reliability. In 2022, Penelec plans to rejuvenate 34,000 feet and replace an additional 11,000 feet of aging lines as part of its $200 million Long Term Infrastructure Improvement Plan.
Potomac Edison, a subsidiary of FirstEnergy Corp. (NYSE: FE), has been awarded the 2022 ENERGY STAR® Partner of the Year Award by the EPA and the U.S. Department of Energy for its energy efficiency programs in Maryland. This recognition highlights Potomac Edison's commitment to environmental stewardship and its role in helping customers manage energy use effectively. The company offers various incentives such as recycling programs for old appliances, home energy efficiency kits, and discounts on ENERGY STAR certified products. This achievement marks Potomac Edison's second award in this category.
Penn Power, a subsidiary of FirstEnergy Corp. (NYSE: FE), is investing $9 million in a tree-trimming program to enhance service reliability across western Pennsylvania. The initiative aims to trim trees along 1,120 miles of power lines, helping to prevent outages during the storm season. As of now, over 250 miles have been completed, with plans to finish an additional 800 miles by year-end. Work is executed by certified forestry experts, utilizing aerial saws for hard-to-reach areas, ensuring safety and efficiency.
Toledo Edison, part of FirstEnergy (NYSE: FE), has announced a $5.5 million investment in a tree-trimming program to enhance service reliability in northwest Ohio. The initiative aims to prevent tree-related power outages during severe weather, trimming nearly 1,300 miles of power lines by year-end. As of now, over 150 miles have been completed. The program, conducted every four years, involves certified forestry experts and includes aerial tree trimming for hard-to-reach areas. This proactive approach is designed to maintain safety and service continuity for nearly 315,000 customers.
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