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.
The Illuminating Company, a FirstEnergy utility, has hired 13 graduates from its Power Systems Institute (PSI) program. This educational initiative prepares workers for FirstEnergy's electric utility companies. The new hires include ten lineworkers and three substation electricians, all graduates from a partnership with Cuyahoga Community College. Since its inception, PSI has successfully placed over 2,400 graduates in various roles across multiple states. The Illuminating Company serves over 750,000 customers in Ohio.
Toledo Edison, a utility under FirstEnergy Corp. (NYSE: FE), has welcomed seven new employees from its Power Systems Institute (PSI). This program, in collaboration with Owens Community College, trains future line and substation workers. The newly hired include six lineworkers and one substation electrician, all with degrees in Electric Utility Technology. Since its inception, PSI has prepared over 2,400 professionals for FirstEnergy's utility operations across multiple states. Toledo Edison serves nearly 315,000 customers in northwest Ohio, emphasizing a commitment to safe and reliable electric service.
West Penn Power, a subsidiary of FirstEnergy Corp. (NYSE: FE), has welcomed 17 new graduates from its Power Systems Institute (PSI) program. This includes 11 lineworkers from Westmoreland County Community College and 6 substation electricians from Pennsylvania Highlands Community College. The PSI program, established in 2000, has successfully trained over 2,400 employees across several states. The new hires are expected to enhance service reliability as veteran workers retire. West Penn Power serves approximately 725,000 customers across 24 counties in Pennsylvania.
Met-Ed, a subsidiary of FirstEnergy Corp. (NYSE: FE), is set to enhance its distribution system in York County, Pennsylvania, benefiting approximately 900 rural customers. This initiative is part of a $153 million Long Term Infrastructure Improvement Plan aimed at improving service reliability and minimizing power outages, especially during severe weather. The project includes constructing a two-mile power line and installing a SCADA-enabled switch for real-time communication between power lines, allowing operators to quickly transfer customers during outages.
FirstEnergy Corp. (NYSE: FE) has declared a quarterly dividend of 39 cents per share, payable on September 1, 2022, to shareholders of record by August 5, 2022. This decision reflects the company’s commitment to maintaining shareholder returns. FirstEnergy, serving customers across multiple states, continues to focus on safety, reliability, and operational excellence within its extensive electric distribution system.
FirstEnergy Corp.'s subsidiary, Jersey Central Power & Light (JCP&L), is sponsoring the 2022 Climate Corps Fellowship program in partnership with Sustainable Jersey and EDF. This initiative places graduate fellows in local municipalities and schools to enhance energy efficiency. This year, six fellows were assigned to 17 municipalities and three school districts in various New Jersey counties, generating significant energy savings and carbon emission reductions. Past fellows achieved operational savings of $472,000 in Jackson Township alone, showcasing the program's positive impact on communities.
Mon Power, a subsidiary of FirstEnergy Corp. (NYSE: FE), is employing helicopters with aerial saws to trim trees along 445 miles of high-voltage power lines in West Virginia. This program, initiated in late May and expected to finish by September, aims to improve electrical clearances and reduce tree-related power outages, particularly during severe weather. Proactive vegetation management has led to a 40% reduction in total customer outage minutes since 2015. Mon Power serves approximately 395,000 customers in 34 counties in the region.
FirstEnergy Corp. (NYSE: FE) will announce its second quarter and first half of 2022 financial results after market close on July 26. Management will discuss these results in a conference call for analysts at 11 a.m. EDT on July 27, followed by a Q&A session. Interested parties can access a live webcast and view presentation materials on the company's Investor Information website. The presentation will be available for replay for up to a year.
FirstEnergy Corp. (NYSE: FE) has proposed a four-year investment plan, known as Grid Mod II, totaling $626 million to enhance smart grid technology in Ohio. This initiative aims to reduce power outages and improve service reliability for customers. Key upgrades include the installation of automated equipment on nearly 240 grid sections and 700,000 smart meters, contributing to a projected $280 million in net benefits. The plan, pending approval from the Public Utilities Commission of Ohio, would add approximately $2.40 to a typical residential customer's monthly bill.
Jersey Central Power & Light (JCP&L), a subsidiary of FirstEnergy Corp. (NYSE: FE), has introduced the EV Driven program in New Jersey, a $39.8 million initiative aimed at bolstering electric vehicle charging infrastructure. The program, approved by the New Jersey Board of Public Utilities, seeks to facilitate the state’s goal of registering 330,000 electric vehicles by 2025. Incentives include up to $1,500 for residential upgrades, $6,700 per commercial charger, and $25,000 for public DC fast chargers. The initiative aims to reduce emissions and enhance clean energy adoption.