Firstenergy Corp Stock Price, News & Analysis

Toledo Edison, a subsidiary of FirstEnergy Corp. (NYSE: FE), has collaborated with the U.S. Fish and Wildlife Service to enhance osprey conservation by installing a 55-foot wooden pole with a nesting platform at Cedar Point National Wildlife Refuge. This initiative addresses the growing osprey population by providing a safe nesting area, thereby reducing nesting near electrical equipment, which could lead to power outages. The installation reflects Toledo Edison’s commitment to wildlife protection, having previously installed deterrents to prevent nesting on utility poles.

FirstEnergy Corp. (NYSE: FE) has expanded its Educate to Elevate program, initially launched for Ohio employees, to include partnerships with Alvernia University in Pennsylvania and Pierpont Community and Technical College in West Virginia. This initiative allows employees to pursue college degrees after work hours at company facilities. The program aims to enhance workforce skills and personal development, with 51 students currently enrolled across the three locations. Following the successful transition to online learning during the pandemic, the company demonstrates its commitment to employee growth and career advancement.

Jersey Central Power & Light (JCP&L), a FirstEnergy Corp. subsidiary, is implementing a significant tree trimming initiative over 3,700 miles of power lines in its service area to prevent outages. As of April 2021, 400 miles have been trimmed, with an additional 3,300 miles scheduled for completion by year-end, totaling an expenditure of $41 million. The program also aims to eliminate deteriorated ash trees affected by the Emerald Ash Borer, having removed over 980 trees this year. JCP&L serves 1.1 million customers across various New Jersey counties.

Met-Ed, a subsidiary of FirstEnergy Corp. (NYSE: FE), is actively engaged in tree trimming across Pennsylvania to enhance electric service reliability. This initiative is part of a $28 million vegetation management program for 2020, aiming to clear 3,200 miles of lines. Since the start of the year, 650 miles have been trimmed, contributing to an 11% reduction in tree-related outages from 2019. Work is scheduled across multiple counties, with certified forestry experts managing the program. Met-Ed serves approximately 570,000 customers across 3,300 square miles.

Mon Power, a subsidiary of FirstEnergy, has launched its 2021 tree trimming program to clear nearly 5,700 miles of power lines in West Virginia. With an investment of over $70 million, the initiative aims to improve service reliability and reduce power outages, which have dropped by more than 40% since 2015. The program will involve the proactive removal of deteriorated ash trees and is executed by certified forestry experts. Mon Power serves approximately 385,000 customers in 34 counties and operates on a four-year trimming cycle.

Ohio Edison, a subsidiary of FirstEnergy Corp. (NYSE: FE), is investing $22 million in a tree-trimming program across its 34-county Ohio service area. The initiative aims to enhance service reliability by preventing tree-related power outages, particularly during storm seasons. Currently, contractors have trimmed trees along nearly 1,200 miles of electric lines and plan to complete an additional 3,850 miles by year-end. The program is executed every four years and employs both ground crews and aerial saws for efficiency and safety.

Penelec, a subsidiary of FirstEnergy Corp. (NYSE: FE), is enhancing electric service reliability through a $39.4 million vegetation management program in Pennsylvania. The initiative includes tree trimming along 1,000 miles of lines and aims to complete an additional 3,200 miles by year-end. This proactive approach is designed to reduce tree-related power outages, notably during severe weather. In 2020, tree-related outages decreased by 3% compared to 2019. Penelec also completed a five-year effort to remove over 200,000 ash trees affected by the Emerald Ash Borer.

Penn Power, a subsidiary of FirstEnergy Corp. (NYSE: FE), is investing $9.5 million in a tree-trimming program aimed at enhancing service reliability within its western Pennsylvania service area. This initiative will prevent tree-related power outages, especially during the spring and summer storms. Already, nearly 300 miles of electric lines have been trimmed, with an additional 900 miles targeted by year-end. The program includes health-preserving pruning and the removal of dangerous or diseased trees, conducted by certified forestry experts.