Firstenergy Corp Stock Price, News & Analysis

FirstEnergy's subsidiary Mon Power is deploying two helicopters with aerial saws to trim trees along 187 miles of transmission lines in West Virginia. This operation aims to improve electrical clearances and minimize tree-related outages, particularly during severe weather. Scheduled from mid-July to September, the $70 million vegetation management program is part of a broader effort to enhance service reliability, having reduced customer outage minutes by over 40% since 2015. Mon Power serves approximately 395,000 customers across 34 counties.

FirstEnergy Corp. (NYSE: FE) is set to release its financial results for Q2 and the first half of 2021 after market close on July 22. A conference call detailing these results will occur at 10 a.m. EDT on July 23, followed by a Q&A session. Interested parties can access a live webcast and presentation materials on FirstEnergy's Investor Information website, with the content available for replay for up to a year. The company emphasizes its commitment to integrity, safety, and operational excellence, serving customers across several states including Ohio and Pennsylvania.

FirstEnergy Corp. (NYSE: FE) has announced a donation of personal protective equipment (PPE) valued at $2.2 million to the United Way, aimed at enhancing community health and safety. The donation includes 7,300 face masks, 18,800 N-95 respirators, and 172,000 disinfectant wipe packets. CEO Steven E. Strah highlighted the company's commitment to safety and community support during the pandemic. The supplies will be distributed across 15 United Way chapters within FirstEnergy's service areas in Ohio, West Virginia, Maryland, New Jersey, and Pennsylvania.

FirstEnergy Corp. announced that Electric service has been restored to over 111,000 Jersey Central Power & Light (JCP&L) customers after severe thunderstorms caused power outages. As of 12:30 p.m. today, approximately 21,000 customers remain without power, mainly in Sussex, Morris, Monmouth, Ocean, Hunterdon, and Warren counties. Crews are addressing over 460 safety hazards and 105 road closures while assessing damage. Restoration efforts are ongoing, with estimates for restoration times provided for specific counties. JCP&L is also preparing for potential impacts from Tropical Storm Elsa.

Penelec, a subsidiary of FirstEnergy Corp. (NYSE: FE), has successfully converted over 2,300 high-pressure sodium streetlights to smart LED technology in downtown Erie. This upgrade will enhance energy efficiency and public safety, allowing for features like real-time monitoring of light statuses and adjustable brightness for specific areas. The initiative is part of Erie's Smart City Project aimed at attracting tech jobs and economic growth. The project commenced in November and concluded in June, benefiting approximately 585,000 Penelec customers across northern and central Pennsylvania.

FirstEnergy (NYSE: FE) issued a reminder urging the public to prioritize electrical safety during the summer and Fourth of July celebrations. The company highlighted the risks associated with foil balloons and fireworks, which have led to a 40% increase in balloon-related power outages in the past three months. To mitigate hazards, FirstEnergy provided safety tips such as securing helium balloons, avoiding fireworks near power lines, and keeping electrical devices away from water. The company is dedicated to ensuring safe electricity service across its six-state service area.

FirstEnergy Corp. (NYSE: FE) has announced the election of Lisa Winston Hicks and Paul Kaleta to its Board of Directors, expanding the board to 16 members. Hicks brings extensive legal and leadership experience from various sectors, while Kaleta has decades of expertise in the energy field. Both will serve on a new Special Litigation Committee focused on handling pending shareholder derivative litigation. This addition aims to strengthen governance and oversight as the company navigates ongoing regulatory challenges and seeks to enhance its operational integrity.

The Illuminating Company, a subsidiary of FirstEnergy Corp. (NYSE: FE), has welcomed 17 new graduates from its Power Systems Institute (PSI) program, aimed at training line and substation workers. This two-year program, in partnership with Cuyahoga Community College and Stark State College, has been operating for 20 years and has trained over 2,000 personnel. The new hires include 10 line workers and 7 substation electricians, enhancing the workforce focused on providing reliable electric service in Northeast Ohio.