Firstenergy Corp Stock Price, News & Analysis

FirstEnergy (NYSE: FE) has issued safety guidelines for holiday gifts, particularly focusing on drone operation during National Safe Toys and Gifts Month. The company emphasizes the importance of proper drone usage, highlighting risks associated with flying near power lines and electrical equipment. FirstEnergy has developed 'Drone Safety Zone,' a free online game teaching drone safety rules.

Key safety recommendations include maintaining a 200-foot distance from power lines, flying below 400 feet altitude, and proper FAA registration. The company also provides general electrical safety tips for holiday gifts, including proper battery handling, cord safety, and outlet management.

The FirstEnergy Foundation has awarded $60,000 in 'Gifts of the Season' grants to four Ohio nonprofits serving vulnerable populations. The recipients include Project Woman ($10,000), D.R. Services, Inc. ($10,000), Catholic Charities ($20,000), and Sofia Quintero Arts & Cultural Center ($20,000). These organizations were selected for their work in supporting domestic violence survivors, people with disabilities, Hispanic communities, and cultural programs respectively.

The initiative, established in 2016, has distributed approximately $1.1 million to nonprofits that align with FirstEnergy's diversity, equity, and inclusion values. To qualify, organizations must be first-time grant recipients and either be or serve diverse categories including veteran-owned, disability-owned, minority-owned, LGBTQ-owned, or woman-owned enterprises.

The Merrill Creek Reservoir (MCR), a 2,700-acre facility partly owned by FirstEnergy's subsidiaries, has won the 2024 Governor's Environmental Excellence Award from New Jersey's DEP in the 'Healthy Ecosystems and Habitats' category. The recognition highlights successful conservation efforts across 173 acres, including:

- 75 acres of forest stand and habitat improvements
- 98 acres of native grassland management
- 1 acre of pollinator gardens
- Creation of 78 underwater spider blocks and 17 fish cribs

The 2,727-acre property, located in Washington Township, Warren County, features a 650-acre reservoir and 290-acre environmental preserve. It's home to over 380 species of wildlife, including endangered species. The project demonstrates innovative environmental practices, such as repurposing invasive autumn olive for aquatic habitats instead of using plastic materials.

FirstEnergy Corp. (NYSE: FE) has announced key executive appointments as part of its new business structure aimed at bringing decision-making closer to customers. James H. Myers III has been appointed President of West Virginia and Maryland operations, effective December 15, overseeing operational excellence, financial performance, and regulatory strategy for Mon Power and Potomac Edison electric companies.

Additionally, Sally Thomas has been named Vice President of Distribution Engineering and Planning (effective January 12), and Joe Storsin appointed as Vice President of Transmission Finance (effective December 15). The restructuring aims to improve local execution and customer investment across FirstEnergy's service areas, which include over 6 million customers across six states and approximately 24,000 miles of transmission lines.

FirstEnergy Pennsylvania Electric Company (FE PA) is completing pre-winter equipment inspections and maintenance to ensure reliable power delivery during the cold season. The company is implementing several key measures including:

- Thermovision camera inspections of substation components to detect potential issues
- Helicopter inspections of over 5,500 miles of transmission lines
- Tree trimming along 9,900 miles of power lines
- Winterization of control buildings and climate-control systems
- Vehicle and equipment winterization checks

The company serves approximately 2.1 million customers across Pennsylvania through its subsidiaries Met-Ed, Penelec, Penn Power, and West Penn Power. FirstEnergy is also providing customers with tips to manage their seasonal heating bills through proper home insulation and maintenance.

FirstEnergy Corp. (NYSE: FE) has completed winter preparations across its Ohio electric companies to ensure system reliability during cold weather. The company has conducted comprehensive inspections including substation equipment checks, helicopter surveillance of transmission lines, and thermovision camera inspections of power lines and transformers.

Key maintenance activities include winterizing substation control buildings, tree trimming to prevent outages, and vehicle inspections focusing on tires and air braking systems. The company has also implemented an Advanced Vegetation Analytics Tool and conducted storm readiness exercises.

FirstEnergy serves over 2 million customers through Ohio Edison, The Illuminating Company, and Toledo Edison across Ohio. The company has provided customers with tips for managing seasonal heating bills, including proper insulation and maintenance recommendations.

FirstEnergy Corp. (NYSE: FE) has achieved a milestone of planting 100,000 donated trees since launching its tree planting program in 2020. The company has significantly exceeded its 2024 goal of 25,000 trees, with nearly 34,000 trees planted this year alone. The program, led by FirstEnergy's Green Teams, has grown from 1,000 trees in 2020 to over 101,000 trees planted at nearly 300 different events.

In 2024, about 650 Green Team members volunteered over 3,000 hours at nearly 150 events across six states, with notable achievements in Ohio (10,000+ trees), Pennsylvania (9,000+ trees), and West Virginia (6,700+ trees). More than half of the planting events were conducted in underserved areas, focusing on communities with specific socioeconomic and environmental challenges.

FirstEnergy's subsidiary Met-Ed is constructing a new electrical substation in South Annville Township, Pennsylvania, to support growing industrial development. The project, started in spring 2024 and expected to complete by early 2025, will enhance service reliability for over 2,100 customers in Annville, South Annville Township, and Palmyra.

The substation will power new warehouse facilities, including the 1.1-million-square-foot Eagle Point Logistics Center and a planned 1 million-square-foot facility at Clear Springs Logistics Park. The project includes installation of a 69-kV-to-13.2-kV transformer and new distribution lines. This development is part of FirstEnergy's Energize365 program, which plans $26 billion in investments between 2024-2028 to create a smarter, more secure grid.

JCP&L, a FirstEnergy Corp. (NYSE: FE) subsidiary, has initiated construction on infrastructure upgrades to enhance electric reliability in three Morris County communities. The project, part of a $95 million New Jersey Reliability Improvement Project, will benefit over 2,100 customers and is scheduled for completion in October 2025.

The upgrades include installing stronger wires and poles, upgrading fuses, adding reclosers for power rerouting, implementing TripSaver devices for automatic line restoration, and enhancing vegetation management. The project consists of two phases, with the first phase set for completion in three years and the second phase targeted for completion by 2028.