Firstenergy Corp Stock Price, News & Analysis

The Illuminating Company, a subsidiary of FirstEnergy (NYSE: FE), is enhancing the power infrastructure in Parma, Ohio, to strengthen the local grid and reduce service disruptions during severe weather. This initiative will benefit nearly 15,000 residents and businesses, featuring new automated equipment in two substations and on power lines. The upgrades include 41 automated reclosing devices to minimize outages and 35 capacitor banks for better power distribution. The project commenced in November 2021 and is expected to conclude in 2022.

On December 21, 2021, the FirstEnergy Foundation donated $10,000 to Ravens Care in Defiance, Ohio, as part of its annual "Gifts of the Season" campaign. This contribution aims to support emergency assistance programs for families in need within the Toledo Edison service area. Ravens Care, established in 1993, provides crucial support such as food vouchers and temporary lodging. The Foundation's president emphasized the importance of this support during challenging times, especially for low-income families. Since 2016, the campaign has awarded nearly $500,000 to various organizations to strengthen communities.

FirstEnergy Corp. (NYSE: FE) has declared a quarterly dividend of 39 cents per share, which will remain unchanged. The dividend is scheduled for payment on March 1, 2022, to shareholders of record by the close of business on February 7, 2022. This decision reflects the company's commitment to financial stability while operating one of the largest investor-owned electric systems in the U.S., serving customers across multiple states including Ohio and Pennsylvania.

Mon Power and Potomac Edison, subsidiaries of FirstEnergy (NYSE: FE), have proposed a $142 million environmental compliance program for their Fort Martin and Harrison power plants. The plan aims to meet U.S. EPA wastewater treatment guidelines, with completion expected by the end of 2025. Upgrades will facilitate continued operation until 2035 and 2040, creating local jobs and reducing environmental impact. Cost will be covered by a ratepayer surcharge starting at 51 cents per month for residential customers in West Virginia.

FirstEnergy Corp. introduces its first hybrid electric bucket trucks to enhance service reliability for JCP&L customers in New Jersey while reducing greenhouse gas emissions. Five trucks are undergoing inspections, with plans for fleet electrification targeting 30% by 2030 and 100% by 2050. The initiative aims to eliminate approximately 10,000 metric tons of GHG emissions annually, equating to removing nearly 2,200 cars from roads. These vehicles reduce noise pollution and operational costs, signaling a commitment to environmental stewardship as part of FirstEnergy's broader climate strategy.

FirstEnergy Corp. (NYSE: FE) announced that its utility subsidiaries have filed procurement plans with the Pennsylvania Public Utility Commission for electric generation supply starting June 2023. These companies serve over two million customers in Pennsylvania and will use an auction process for electric supply. CRA International will manage the procurement process, starting auctions in November 2022 and continuing semiannually until 2026. Additionally, they aim to meet alternative energy standards, including solar projects. A decision from the PaPUC is expected in mid-2022.