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) is a utility holding company whose electric distribution companies serve more than six million customers across Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. Its transmission subsidiaries operate approximately 24,000 miles of transmission lines connecting the Midwest and Mid-Atlantic regions. The news surrounding FirstEnergy reflects its role in nuclear electric power generation, electric distribution and transmission within the utilities sector.
This news page brings together company-issued updates and other coverage related to FE. Readers can find announcements about quarterly and annual financial results, earnings teleconferences and investor presentations, often referenced in Form 8-K filings and news releases. These items provide insight into how management views performance, uses GAAP and non-GAAP measures and communicates core earnings guidance and strategic priorities.
Because FirstEnergy operates regulated utilities, a significant portion of its news flow centers on regulatory developments and settlements. Examples include Public Utilities Commission of Ohio (PUCO) proceedings and comprehensive settlement agreements that address riders, audits and customer restitution and refunds for Ohio Edison, The Illuminating Company and Toledo Edison customers. Such updates can be important for understanding potential impacts on rates, customer bills and regulatory relationships.
Operational and infrastructure news is another key theme. FirstEnergy and its subsidiaries, including entities like Mid-Atlantic Interstate Transmission and Jersey Central Power & Light, issue releases on grid modernization projects, high-voltage line rebuilds, substation upgrades and other investments intended to enhance reliability and support growth in local communities.
In addition, the FirstEnergy Foundation regularly announces “Gifts of the Season” and other grants to nonprofits in the company’s service territories, highlighting community and philanthropic initiatives. Investors, customers and observers can use this news page to follow developments across financial, regulatory, operational and community dimensions of FirstEnergy’s business.
FirstEnergy Corp. (NYSE: FE) underscores the importance of safety during the Halloween season in a recent announcement. The company advises the public to take precautions while decorating to prevent electrical hazards. Key safety tips include avoiding decorations near utility equipment, inspecting electrical cords, using proper light clips, and opting for UL-approved lights. Additionally, FirstEnergy emphasizes safe practices for trick-or-treating, such as keeping paths clear and being visible. Customers are encouraged to report streetlight issues promptly. For further safety information, visit FirstEnergy's public safety campaign online.
FirstEnergy Corp. (NYSE: FE) announced a Request for Proposal (RFP) to secure long-term solar power purchase agreements (PPAs) for its four Pennsylvania utilities. The firm seeks bids to procure up to 20 megawatts (MW) of solar capacity during the RFP process, managed by The Brattle Group. Key dates include qualifying applications by Nov. 7, 2022, and bid submissions by Dec. 5, 2022. The projects must align with Pennsylvania's Alternative Energy Portfolio Standards Act. For more details, visit FirstEnergy's website.
FirstEnergy Corp. (NYSE: FE) will announce its third quarter and first nine months of 2022 financial results on October 25, following market closure. A conference call is scheduled for 11 a.m. EDT on October 26 to discuss the results, including a question-and-answer session. Investors can listen to the live webcast on FirstEnergy's Investor Information website. Supporting materials will be available post-announcement. The company emphasizes integrity, safety, and operational excellence, serving customers across multiple states.
Jersey Central Power & Light (JCP&L), a subsidiary of FirstEnergy Corp. (NYSE: FE), is offering Google Nest thermostats for just $1 to customers until December 31, 2022. This initiative aims to help New Jersey residents manage rising energy costs, attributed to increasing temperatures and inflation. Studies show that Nest thermostats can save users 10%-12% on heating and 15% on cooling bills. The promotion is part of JCP&L's efforts to enhance energy efficiency and accessibility for all customers.
FirstEnergy Corp. (NYSE: FE), based in Akron, Ohio, announced a Request for Proposal (RFP) to buy 470,000 Ohio-compliant Renewable Energy Credits (RECs) for its utilities, including Ohio Edison, The Illuminating Company, and Toledo Edison. This initiative aims to meet the 2022 renewable energy targets set by Ohio's alternative energy law. The RFP is managed by Guidehouse Inc. and focuses on RECs generated between Jan. 1, 2020, and Dec. 31, 2022. Interested bidders must meet credit qualifications, with proposals due by Nov. 9, 2022.
FirstEnergy Corp. (NYSE: FE) announces the completion of smart grid upgrades in Ashtabula County, Ohio, impacting nearly 18,000 customers. This project included the installation of new automated equipment in substations and power lines, enhancing service reliability during severe weather. A new four-year, $626 million plan (Ohio Grid Mod II) has been filed to further expand smart grid technology investments, building on previous upgrades. The plan aims to introduce electric vehicle charging incentives and improve customer service through advanced technology.
The Illuminating Company, a subsidiary of FirstEnergy Corp. (NYSE: FE), is concluding a smart grid modernization project in greater Cleveland. This initiative includes the installation of automated equipment in substations, impacting over 76,000 customers. Additionally, a new proposal for a $626 million smart grid investment plan, termed Ohio Grid Mod II, aims to expand these efforts with multiple pilot programs. The upgrades enhance power restoration during severe weather, improve service reliability, and support energy efficiency through new technology.
On October 5, 2022, FirstEnergy's Potomac Edison announced the donation of 650 trees to be planted in various locations across Maryland. The initiative is part of a broader effort to plant 20,000 trees this year, with 16,000 already planted. Events are scheduled across multiple sites, including Shafer Park, Monocacy National Battlefield, and Toms Creek. The initiative aims to reduce the company's carbon footprint and promote sustainability. This volunteer effort highlights FirstEnergy's commitment to environmental stewardship and community engagement.
Potomac Edison, a FirstEnergy subsidiary, has commenced plans for a high-voltage substation to supply power for the first phase of Quantum Frederick, a 2,100-acre data center campus in Frederick, Maryland. The 230-kilovolt substation will support an initial 240 megawatts of power, with design capacity for up to 1,000 megawatts for future phases. The project aligns with FirstEnergy's commitment to economic development, having attracted $5.4 billion in corporate investment in 2021. The substation plan is subject to regulatory review by various local and regional organizations.
FirstEnergy Corp. (NYSE: FE) is giving away 1,500 trees during the 2022 Mountain State Forest Festival in Elkins, West Virginia, as part of its initiative to plant 20,000 trees this year. The event will take place on October 7 and 8, with nearly 16,000 trees already planted across its service area. The company's efforts aim to reduce its carbon footprint and promote sustainable practices. Additionally, FirstEnergy is donating $2,000 to the festival and providing in-kind contributions valued at $10,000 for event logistics.