Firstenergy Corp Stock Price, News & Analysis

FirstEnergy Corp. (NYSE: FE) and the FirstEnergy Foundation have contributed over $740,000 in 2024 to support more than 110 nonprofit organizations in JCP&L's service territory. The grants target various community initiatives, including: $120,000 for food insecurity programs, $65,000 to United Way chapters, $64,000 to NJ SHARES for smart meter installation repairs, $58,000 for homelessness initiatives, and $35,000 for veteran programs.

JCP&L serves 1.1 million customers across 13 New Jersey counties. The company provides employees with 16 hours of volunteer time off annually to support 501(c)(3) organizations. The FirstEnergy Foundation focuses on supporting tax-exempt nonprofits in areas served by JCP&L and other FirstEnergy electric companies.

FirstEnergy Transmission (FET) has announced an exchange offer for its outstanding senior notes. The company is offering to exchange up to $400 million of 4.550% Senior Notes due 2030 and up to $400 million of 5.000% Senior Notes due 2035 for equal amounts of new notes registered under the Securities Act.

The exchange offer will expire on January 24, 2025, at 5:00 p.m. New York City time. This exchange is being conducted to fulfill obligations under a registration rights agreement and does not represent a new financing transaction. FET operates electric transmission companies across Ohio, Pennsylvania, West Virginia, Maryland and Virginia.

FirstEnergy Corp. (NYSE: FE) has announced three key appointments effective December 30: Kelly Gower as VP of Finance and Regulatory for Pennsylvania, Teresa Reed as VP of Finance and Regulatory for New Jersey, and Jeremy W. Hay's promotion to VP of Construction and Design Services. Gower and Reed will oversee financial strategy, budgeting, and regulatory relationships in their respective states, while Hay will manage transmission infrastructure construction and design.

These appointments align with FirstEnergy's new business structure, aimed at bringing decision-making closer to customers. The company serves over 6 million customers across six states and operates approximately 24,000 miles of transmission lines connecting the Midwest and Mid-Atlantic regions.

FirstEnergy Pennsylvania (FE PA) has secured approval from the Pennsylvania Public Utility Commission for phase three of its Long-Term Infrastructure Improvement Plans (LTIIP III). The plan involves a $1.42 billion capital investment over the next five years to enhance service reliability for over two million Pennsylvania customers.

The initiative builds on more than $1 billion invested during 2016-2024, which has already reduced customer service interruptions by 14% since 2019. LTIIP III will focus on grid modernization and system resiliency, including installing protective devices, converting power lines, updating underground networks, and replacing aging equipment. The investment will be distributed across service areas: Penelec ($538M), Met-Ed ($382M), West Penn Power ($368M), and Penn Power ($133M).

The FirstEnergy Foundation has awarded nearly $20,000 in 'Gifts of the Season' grants to three New Jersey nonprofits serving JCP&L's service area. The recipients include Pearls of Wisdom Foundation ($6,650), Next Steps Adult Day Program ($6,650), and Project Refit ($6,650). These organizations focus on youth development, special needs adults support, and mental health services for military members and first responders, respectively.

The initiative, established in 2016, has awarded approximately $1.1 million to nonprofits that promote diversity, equity, and inclusion, including nearly $100,000 to New Jersey organizations. To qualify, recipients must be first-time grantees and meet specific diversity criteria in their business ownership or operational focus.

The FirstEnergy Foundation, associated with FirstEnergy Corp. (NYSE: FE), has donated $40,000 to two nonprofit organizations as part of its annual holiday 'Gifts of the Season' campaign. Operation Second Chance and Stars That Shine each received surprise $20,000 donations to support their community work in Maryland and West Virginia.

Operation Second Chance, based in Montgomery County, Maryland, supports wounded combat veterans and their families through various programs, including retreats at Heroes Ridge. Stars That Shine, serving Eastern Panhandle of West Virginia, focuses on mentoring girls and young women through educational and empowerment programs.

Since its 2016 inception, the 'Gifts of the Season' initiative has awarded approximately $1.1 million to nonprofits that align with FirstEnergy's core value of diversity, equity and inclusion.

FirstEnergy Foundation, through its Mon Power subsidiary, has awarded surprise donations of $6,650 each to three West Virginia nonprofit organizations as part of its annual 'Gifts of the Season' campaign. The recipients are Libera Inc., the West Virginia Statewide Independent Living Council (WVSILC), and Centers Against Violence. The total donation of nearly $20,000 will support various community initiatives including a proposed transitional housing facility, a wellness center for people with disabilities, and services for victims of domestic violence. This initiative, created in 2016, has awarded approximately $1.1 million to nonprofits that align with FirstEnergy's core values of diversity, equity and inclusion.

The FirstEnergy Foundation has awarded surprise "Gifts of the Season" totaling $70,000 to six Pennsylvania nonprofits serving communities in FirstEnergy Pennsylvania's service area. The recipients include Barrio Alegria ($10,000), Glenn Hope Care Farm ($10,000), Vallonia Industries ($20,000), The Blind Association of Butler and Armstrong ($10,000), Achieva Support ($10,000), and Centre LGBT+ ($10,000).

The initiative, created in 2016, supports organizations aligned with FirstEnergy's core value of diversity, equity, and inclusion. Since its inception, the campaign has awarded over $1.1 million to nonprofits working to strengthen communities through a diverse lens. Recipients must be first-time FirstEnergy Foundation grant recipients and either be or serve diverse categories including veteran-owned, disability-owned, minority-owned, LGBTQ-owned, or woman-owned enterprises.

FirstEnergy Corp. (NYSE: FE) has announced that President and CEO Brian X. Tierney will assume the additional role of Chair of the Board, effective January 1, 2025. Current Chair John W. Somerhalder II will remain as a director, while Lisa Winston Hicks continues as Lead Independent Director. The Board unanimously elected Tierney, who has served as President and CEO since June 1, 2023, citing the company's progress in financial, operational, and cultural transformation.

The Board believes combining the CEO and Chair roles will strengthen the company's position as it implements its Energize365 capital investment program to deliver more secure and reliable energy. The company aims to create shareholder value through financial commitments, continuous improvement, and investment across regulated electric companies.