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.
Jersey Central Power and Light (JCP&L), a FirstEnergy subsidiary, has appointed three new external affairs consultants to enhance community relations and government engagement. The new team members include Jarrell Coleman, Tina Earley, and Jolanta Maziarz, who will work across various regions in New Jersey. Coleman previously worked at Dominion Energy, while Earley has extensive experience in utility management and government affairs. Maziarz brings a background in local governance. JCP&L serves 1.1 million customers in multiple counties, emphasizing its commitment to community involvement and reliability.
FirstEnergy Corp. has completed proactive aerial inspections of nearly 1,000 miles of 345-kV transmission lines in western Pennsylvania using infrared and ultraviolet technology. These inspections help detect early equipment issues, preventing future outages. Annually, visual aerial inspections cover about 2,000 miles, with additional inspections planned. The maintenance of transmission systems is crucial for ensuring reliable electricity supply, especially during high-demand winter months. FirstEnergy serves various counties in Pennsylvania, with a focus on safety and operational excellence.
Potomac Edison, a subsidiary of FirstEnergy, has installed new interior fencing at its Urbana substation in Maryland to prevent animal intrusions, which are a common cause of power outages. The fencing covers a 650-foot perimeter and aims to protect electrical equipment while ensuring reliable service for nearly 5,400 customers. Since 2014, similar installations at 19 substations have significantly reduced animal-related outages. FirstEnergy emphasizes the cost-effectiveness and humane nature of this fencing solution for maintaining operational integrity.
Mon Power, a subsidiary of FirstEnergy Corp. (NYSE: FE), has completed enhancements to its distribution system, benefiting approximately 4,580 customers. Key upgrades include new lines for backup power, voltage regulators for improved service restoration, and overhead equipment replacement to enhance reliability. Locations affected include Doddridge, Monongalia, and Marion counties, among others. The company is also working on future projects focused on reliability and vegetation management, emphasizing its commitment to safe and reliable electric service.
On October 4, 2021, FirstEnergy Corp. (NYSE: FE) issued an RFP to acquire Ohio-compliant Renewable Energy Credits (RECs) for its Ohio utilities, aiming to fulfill 2021 renewable energy targets mandated by Ohio's alternative energy law. The RFP seeks 426,600 RECs from certified facilities, deliverable through the PJM Environmental Information System. Bidders must maintain specific credit qualifications. A webinar is scheduled for October 11, 2021, to detail the RFP process. Proposals are due by November 10, 2021, at 5 p.m. EPT. More information is available on the designated RFP website.
Jersey Central Power and Light (JCP&L), a subsidiary of FirstEnergy Corp. (NYSE: FE), proposes a transmission system to connect New Jersey's offshore wind farms to the power grid. This initiative aims to support the New Jersey Energy Master Plan's goals, connecting enough energy for approximately 2.5 million homes. The project includes utilizing existing infrastructure, minimizing environmental impact, and enhancing grid reliability. Additionally, JCP&L is pushing for electric vehicle charging infrastructure and energy efficiency programs, all aligning with New Jersey's aim for 100% clean energy by 2050.
FirstEnergy Corp (NYSE: FE) and Penn Power donated nearly 130 trees to Buhl Park in Hermitage, Pennsylvania, on September 22, 2021. Since April 2021, FirstEnergy has planted over 10,000 trees across its service area, aiming to reduce its carbon footprint and promote sustainability. The event involved employee volunteers and is part of broader environmental initiatives led by FirstEnergy's Green Teams across multiple states. Buhl Park, a historical landmark, spans 270 acres and serves nearly half a million visitors annually.
FirstEnergy Corp. (NYSE: FE) has declared a quarterly dividend of 39 cents per share, to be paid on December 1, 2021, to shareholders of record as of November 5, 2021. This decision maintains the company's commitment to returning value to its shareholders. FirstEnergy operates one of the largest investor-owned electric systems in the U.S., providing services across several states, including Ohio and Pennsylvania. The dividend reflects the company's stable operational performance despite ongoing governmental investigations and regulatory challenges.
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