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.
Penn Power, a subsidiary of FirstEnergy Corp. (NYSE: FE), is investing $9 million in a tree-trimming program to enhance service reliability across western Pennsylvania. The initiative aims to trim trees along 1,120 miles of power lines, helping to prevent outages during the storm season. As of now, over 250 miles have been completed, with plans to finish an additional 800 miles by year-end. Work is executed by certified forestry experts, utilizing aerial saws for hard-to-reach areas, ensuring safety and efficiency.
Toledo Edison, part of FirstEnergy (NYSE: FE), has announced a $5.5 million investment in a tree-trimming program to enhance service reliability in northwest Ohio. The initiative aims to prevent tree-related power outages during severe weather, trimming nearly 1,300 miles of power lines by year-end. As of now, over 150 miles have been completed. The program, conducted every four years, involves certified forestry experts and includes aerial tree trimming for hard-to-reach areas. This proactive approach is designed to maintain safety and service continuity for nearly 315,000 customers.
The Illuminating Company, a subsidiary of FirstEnergy Corp. (NYSE: FE), is launching a $16.5 million tree-trimming program in northeast Ohio to enhance electric service reliability. The initiative aims to prevent outages caused by trees, especially during storm seasons. As of now, 400 miles of power lines have been trimmed, with an additional 1,600 miles expected to be completed by year-end. The program, managed by certified forestry experts, follows a four-year cycle and is expected to benefit over 750,000 customers.
Potomac Edison, a subsidiary of FirstEnergy Corp. (NYSE: FE), has initiated its 2022 tree-trimming program to enhance electric service reliability. The program aims to clear vegetation along approximately 3,100 miles of power lines in Maryland and West Virginia, investing $33 million in the process. Notably, tree-related service interruptions dropped by 20% in 2021 compared to 2019. The initiative includes pruning and inspecting trees, thereby facilitating easier maintenance and repairs. This effort supports about 275,000 customers in Maryland and 151,000 in West Virginia.
Ohio Edison, a subsidiary of FirstEnergy Corp (NYSE: FE), has announced a $21.6 million investment in tree trimming and vegetation management across its service area to enhance electric service reliability. The program aims to prevent tree-related outages, particularly during the storm season, with over 300 miles already completed this year and an additional 4,400 miles planned by year-end. Work is performed by certified professionals and includes tree inspections, pruning, and removals where necessary.
FirstEnergy's subsidiary, Mon Power, has launched its 2022 tree-trimming program in West Virginia, targeting nearly 5,200 miles of power lines. This initiative, part of a $58 million investment, aims to enhance service reliability and reduce power outages due to tree-related incidents. Since 2014, Mon Power has cleared over 31,000 miles and trimmed more than 3.7 million trees, leading to a 40% decrease in customer outage minutes. Additionally, a $10.5 million program focuses on removing deteriorated ash trees affected by the Emerald Ash Borer.
FirstEnergy Corp. (NYSE: FE) subsidiary Met-Ed is executing a tree-trimming program across eastern Pennsylvania, covering nearly 3,200 miles of power lines to enhance electric service reliability. As of May 3, 2022, around 500 miles have been completed as part of a $30 million vegetation management initiative for 2022. The program aims to reduce tree-related outages, having successfully reduced service interruptions by 8% in 2021. Work includes pruning and removing hazardous trees, with certified experts managing the processes.
FirstEnergy Corp. (NYSE: FE) announces a $40 million tree-trimming program by its subsidiary Jersey Central Power & Light (JCP&L) aimed at enhancing service reliability. Covering 3,400 miles of power lines, the initiative includes pruning to reduce outages caused by trees during severe weather. Already, 700 miles have been trimmed since January, with 2,700 miles expected by year-end. Additionally, nearly 20,000 ash trees affected by the Emerald Ash Borer have been removed since 2017. The proactive effort is designed to keep electricity flowing to JCP&L's 1.1 million customers.
Penelec, a subsidiary of FirstEnergy Corp. (NYSE: FE), is actively engaging in tree-trimming efforts across Pennsylvania to enhance electric service reliability. As part of a $37.7 million vegetation management program, approximately 700 miles of power lines have been cleared this year, with 3,500 additional miles planned by year-end. The proactive measures aim to reduce tree-related outages during severe weather, ensuring safe clearances around electrical equipment. Penelec serves about 585,000 customers across 17,600 square miles of the state.
FAQ
What is the current stock price of Firstenergy (FE)?
What is the market cap of Firstenergy (FE)?
