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. reports developments for an investor-owned electric utility holding company with distribution companies in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York and transmission subsidiaries that connect the Midwest and Mid-Atlantic regions.
Recurring updates cover GAAP and core earnings, distribution and transmission rate-base growth, capital spending for grid reliability, and regulatory proceedings such as Ohio distribution rate plans. Company news also covers projects by American Transmission Systems, Potomac Edison, Ohio Edison, Toledo Edison and The Illuminating Company, including line rebuilds, tree trimming, time-of-use rates, storm restoration and operational leadership changes.
FirstEnergy Corp. (NYSE: FE) announced that its utility subsidiaries have filed procurement plans with the Pennsylvania Public Utility Commission for electric generation supply starting June 2023. These companies serve over two million customers in Pennsylvania and will use an auction process for electric supply. CRA International will manage the procurement process, starting auctions in November 2022 and continuing semiannually until 2026. Additionally, they aim to meet alternative energy standards, including solar projects. A decision from the PaPUC is expected in mid-2022.
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On December 14, 2021, FirstEnergy Corp. announced a new investment in Energy Impact Partners' Fund II, joining leading utilities and companies to raise over $1 billion in capital. This initiative targets advancements in sustainable energy technologies such as electrification, energy storage, and cybersecurity. The investment aligns with FirstEnergy's commitment to achieving carbon neutrality by 2050 and reducing greenhouse gases by 30% by 2030. The company aims to leverage EIP’s portfolio for innovative solutions in its operations.
FirstEnergy Corp. (NYSE: FE) has announced its annual "Merry & Bright" Holiday Lights Sweepstakes, urging utility customers to showcase their outdoor holiday lighting displays. Participants can enter by submitting photos or videos via their local utility's Facebook page until December 17, 2021. Weekly winners will receive a $100 Amazon gift card. FirstEnergy emphasizes the importance of safety when decorating outdoors, advising customers to maintain safe distances from electrical hazards. For more details and safety tips, customers can visit FirstEnergy’s public safety website.
Jersey Central Power & Light (JCP&L), a subsidiary of FirstEnergy Corp. (NYSE: FE), is enhancing service reliability ahead of winter by conducting inspections and maintenance across its 3,200-square-mile area. Proactive measures, such as tuning up substations and tree trimming along 2,970 miles of electric lines, aim to prevent service interruptions due to winter weather conditions. JCP&L serves 1.1 million customers in New Jersey and emphasizes safety through winter preparation for both equipment and employees.
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Met-Ed, a subsidiary of FirstEnergy Corp. (NYSE: FE), is preparing for winter by completing crucial equipment inspections and maintenance. This initiative aims to ensure reliable electric service for its 570,000 customers across 14 Pennsylvania counties. Key activities include infrared inspections of substations, helicopter checks of 1,400 miles of transmission lines, and extensive tree trimming—approximately 3,200 miles planned for completion. Additionally, Met-Ed emphasizes safety checks on utility vehicles and conducted a storm drill to enhance restoration readiness.
West Penn Power, a subsidiary of FirstEnergy (NYSE: FE), is finalizing inspections and maintenance to ensure reliable electricity delivery during winter. President Scott Wyman emphasized proactive measures to safeguard infrastructure. Key activities include using 'thermovision' cameras for equipment checks, winterizing control buildings, and helicopter inspections of 1,700 miles of transmission lines. The company has trimmed over 3,800 miles of electric lines this year, aiming for 4,800 miles by year-end. These efforts support approximately 725,000 customers in Pennsylvania.
FirstEnergy's Pennsylvania subsidiary, Penelec, is enhancing electric service reliability ahead of winter by completing crucial equipment inspections and maintenance. This proactive approach includes using thermovision cameras for inspecting substations, winterizing control buildings, and conducting helicopter inspections on 2,500 miles of transmission lines. Maintenance also involves trimming 4,200 miles of trees to minimize outages and ensuring utility vehicles are equipped for harsh conditions. Penelec serves about 585,000 customers across northern and central Pennsylvania, emphasizing safety and reliability during cold months.