FirstEnergy Corp. reports developments for an investor-owned electric utility holding company with distribution companies in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York and transmission subsidiaries that connect the Midwest and Mid-Atlantic regions.
Recurring updates cover GAAP and core earnings, distribution and transmission rate-base growth, capital spending for grid reliability, and regulatory proceedings such as Ohio distribution rate plans. Company news also covers projects by American Transmission Systems, Potomac Edison, Ohio Edison, Toledo Edison and The Illuminating Company, including line rebuilds, tree trimming, time-of-use rates, storm restoration and operational leadership changes.
On January 31, 2023, American Transmission Systems, Inc. (ATSI), a subsidiary of FirstEnergy Corp. (NYSE: FE), commenced construction on a new 20,000-square-foot operations service center in North Jackson, Ohio. This facility aims to enhance electric service reliability and expedite response times for service disruptions. It will centralize operations for nearly a dozen transmission line workers and include a 15,000-square-foot storage facility for large transmission equipment. Both facilities are expected to be ready by late spring 2023, supporting ATSI's extensive network of over 8,100 miles of transmission lines.
West Penn Power, a subsidiary of FirstEnergy Corp. (NYSE: FE), is enhancing its distribution system in Allegheny and Washington counties to minimize service interruptions, especially during severe weather. This initiative includes the installation of automated equipment for around 6,400 customers in South Park, Bethel Park, and Peters Township. The project, part of the $147 million Long Term Infrastructure Improvement Plan (LTIIP II), aims to boost electric service reliability. Completion is expected by early 2023, with smart reclosing devices improving outage management and reducing repair times for the utility.
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On January 27, 2023, the FirstEnergy Foundation announced $50,000 in grants to three local nonprofits in the West Penn Power and Penn Power service areas. The recipients are:
- ACRES Project ($20,000) - Supports adults with autism through job skills and social opportunities.
- Military Community Support Project ($20,000) - Aims to enhance relationships between the military community and citizens.
- New Castle Public Library ($10,000) - Offers educational resources for community development.
Since 2016, the campaign has awarded over $500,000, underscoring FirstEnergy's commitment to community support.