Firstenergy Corp Stock Price, News & Analysis

Penelec, a FirstEnergy Corp. electric utility, is enhancing service reliability for approximately 2,800 customers in northern Clarion County, Pennsylvania. The multimillion-dollar upgrades include replacing 66 utility poles, 155 crossarms, and 550 insulators, along with modernizing aging copper wire to aluminum. These improvements aim to reduce electric service interruptions, particularly during severe weather. The project, part of a $200 million Long Term Infrastructure Improvement Plan, began in late 2021 and is set for completion in March 2022.

Jim Fakult, president of New Jersey Operations for FirstEnergy (NYSE: FE) and Jersey Central Power & Light (JCP&L), has been recognized in the ROI-NJ and NJBiz 'power' lists for his leadership. Fakult ranked 40th in the Power List 2022 and was also included in the NJBiz 2022 Power 100 list. Under his leadership, JCP&L is committed to a clean energy future, enhancing electric vehicle use and energy efficiency. JCP&L has received awards for environmental stewardship and community involvement, supporting local initiatives and aiding in the state's energy goals.

FirstEnergy Corp. (NYSE: FE) announced an unchanged quarterly dividend of 39 cents per share, payable on June 1, 2022, to shareholders of record as of May 6, 2022. This decision reflects the company’s ongoing commitment to providing returns to its shareholders amidst operational challenges. FirstEnergy operates across several states, delivering electricity through its extensive distribution and transmission network. The company emphasizes integrity, reliability, and safety in its operations.

FirstEnergy Corp. (NYSE: FE) has announced a $1 million contribution to the UBIZ Venture Capital program to support minority-owned businesses in northeast Ohio. This funding aims to establish the UBIZ Access Fund II, providing loans and support to high-growth potential businesses in Cuyahoga, Summit, Lake, and Lorain counties. Contributions will be made quarterly for $250,000 each. FirstEnergy strives to increase its diversity spending to 20% by 2025, having reached 16% in 2021, emphasizing its commitment to fostering inclusive economic growth.

Potomac Edison, a subsidiary of FirstEnergy Corp. (NYSE: FE), has launched four new electric vehicle (EV) fast-charging stations in Frostburg and Friendsville, Maryland. This initiative is part of the EV Driven pilot program, focusing on environmental benefits and supporting Maryland's goal of 300,000 zero-emission vehicles by 2025. The program includes the installation of 59 charging stations across seven counties by 2023. Potomac Edison also offers rebates for residential and multifamily property owners to encourage EV charger installations.

On March 4, 2022, Jersey Central Power and Light (JCP&L), a subsidiary of FirstEnergy Corp. (NYSE: FE), received the 2022 New Jersey Alliance for Action Leading Capital Construction Projects award. The recognition was for JCP&L's role in constructing a combined heat and power plant at Morristown Medical Center, which aims to meet the hospital's electricity and heating needs efficiently. JCP&L, alongside nine partners, showcased commendable collaboration, focusing on energy efficiency and sustainability, further solidifying its commitment to the community.

Jersey Central Power & Light (JCP&L), a subsidiary of FirstEnergy Corp. (NYSE:FE), will launch a smart meter installation program in 2023, approved by the New Jersey Board of Public Utilities. Over 1.1 million smart meters will be installed within 36 months, enhancing billing accuracy and energy management for customers. JCP&L's president, Jim Fakult, highlighted previous successes in Ohio and Pennsylvania. Customers will receive advance notification and can opt-out for a fee. This initiative aims to improve power restoration and outage detection.

Potomac Edison, a subsidiary of FirstEnergy Corp. (NYSE: FE), is urging customers facing financial hardship to seek assistance before the winter utility disconnection rules lift on March 31. The company highlights available support programs, such as the Community Energy Fund and Maryland Energy Assistance Program, designed to help qualifying customers manage their electric bills. FirstEnergy employees share personal stories in a video to encourage customers to utilize these resources. Potomac Edison serves approximately 257,000 customers across seven Maryland counties.

FirstEnergy's West Virginia electric companies, Mon Power and Potomac Edison, are advising residential customers facing financial difficulties to reach out for assistance before winter shut-off restrictions end on March 31. A video titled "We're Customers Just Like You" features employees sharing personal experiences to encourage customers to seek help. Available programs include the Low-Income Energy Assistance Program, Emergency Assistance Program, and more. The company emphasizes the importance of awareness regarding assistance options to help customers manage their electric bills.