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.
FirstEnergy alerts customers to conserve electricity due to extreme cold, predicting high electric demand today as temperatures plummet. The PJM Interconnection recommends energy-saving measures until 10 a.m. on December 25. Customers are advised to lower thermostats, turn off non-essential appliances, postpone using major electric appliances, and close curtains to retain warmth. The utility company warns of potential short, rotating outages if demand continues to rise. FirstEnergy serves multiple states and operates about 24,000 miles of transmission lines.
FirstEnergy Corp. (NYSE: FE) is gearing up for a severe winter storm expected to impact its service territories in Ohio, Pennsylvania, West Virginia, Maryland, New Jersey, and New York from Dec. 22, 2022, through Dec. 24, 2022. The storm will bring extreme cold, ice, snow, and winds exceeding 60 mph. FirstEnergy's utility teams are implementing enhanced storm response plans, including additional staffing for damage assessments and restoration efforts. Customers are advised to prepare for potential outages and can report issues via multiple channels.
FirstEnergy Corp. (NYSE: FE) launched a free drone safety video game to promote electrical safety awareness during the holiday season. As drones become popular gifts, the company urges users to follow safety tips, emphasizing the risks of flying near power lines and substations. Key recommendations include becoming a licensed pilot, registering drones, and avoiding flying in unsafe conditions. The game teaches safe practices in an interactive manner, enhancing public understanding of electricity safety around drone use. Additional safety tips for holiday gifts and decorations are also provided.
FirstEnergy Corp. (NYSE: FE) declared a quarterly dividend of 39 cents per share, remaining unchanged from previous periods. This dividend will be payable on March 1, 2023, to shareholders of record on February 7, 2023. The company's extensive electric distribution network serves states including Ohio, Pennsylvania, New Jersey, and more. Despite ongoing government investigations and potential risks affecting operations, FirstEnergy remains committed to operational excellence.
Potomac Edison, a subsidiary of FirstEnergy Corp (NYSE: FE), has launched a $1.4 million battery energy storage project in Myersville, Maryland, alongside two new electric vehicle (EV) fast-charging stations. The 500-kilowatt battery will power the charging stations during peak demand and outages, offering about eight hours of uninterrupted charging. This initiative is part of Maryland's Energy Storage Pilot Program and aims to enhance system reliability amid increasing EV adoption. The project is the first of two planned energy storage projects by Potomac Edison.
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FirstEnergy Corp. (NYSE: FE) announced the construction of a new 138-kilovolt transmission line in Lorain County, Ohio, aimed at enhancing service reliability for approximately 28,000 customers. Valued at $24.7 million, the project encompasses seven miles of new power line and 20 miles of reconfigured existing infrastructure. The line, expected to be operational by May 2023, will provide an additional power source, helping to reduce outages and support growth. This initiative is part of the multi-year Energizing the Future program focused on upgrading FirstEnergy's transmission system.
FirstEnergy Corp. (NYSE:FE) announces its annual "Merry & Bright" Holiday Lights Sweepstakes, encouraging customers to showcase their outdoor lighting displays for a chance to win weekly prizes of $100 Amazon gift cards. The contest runs until December 16, with winners selected from FirstEnergy's 10 utility companies. In addition to the contest, FirstEnergy provides important safety tips for holiday decorating, emphasizing the need for safe installation of lights and avoiding hazards near power lines. Customers must be 18 years old and current FirstEnergy customers to participate.
Jersey Central Power & Light (JCP&L), a subsidiary of FirstEnergy Corp. (NYSE: FE), has completed essential maintenance and inspections to prepare for the winter season across its 3,200-square-mile service area. This proactive approach aims to enhance service reliability amidst increased electricity demand and potential winter storms. Preparations included winterizing substations, inspecting power lines with thermal imaging, and trimming trees to avoid outages. JCP&L has also serviced vehicles for safe operations, while advising customers on energy-saving tips during the colder months.
FirstEnergy Corp. (NYSE: FE) has completed extensive pre-winter inspections and maintenance across its Ohio utilities, including Ohio Edison, The Illuminating Company, and Toledo Edison. This initiative aims to enhance service reliability during the anticipated cold weather, which is expected to increase electric usage. The company has invested over $500 million in smart grid enhancements since 2020, focusing on automated technology to prevent power outages. Inspections of nearly 7,200 miles of high-voltage transmission lines and proactive equipment checks are part of these efforts.