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.
Mon Power and Potomac Edison, subsidiaries of FirstEnergy (NYSE: FE), have proposed a $142 million environmental compliance program for their Fort Martin and Harrison power plants. The plan aims to meet U.S. EPA wastewater treatment guidelines, with completion expected by the end of 2025. Upgrades will facilitate continued operation until 2035 and 2040, creating local jobs and reducing environmental impact. Cost will be covered by a ratepayer surcharge starting at 51 cents per month for residential customers in West Virginia.
FirstEnergy Corp. introduces its first hybrid electric bucket trucks to enhance service reliability for JCP&L customers in New Jersey while reducing greenhouse gas emissions. Five trucks are undergoing inspections, with plans for fleet electrification targeting 30% by 2030 and 100% by 2050. The initiative aims to eliminate approximately 10,000 metric tons of GHG emissions annually, equating to removing nearly 2,200 cars from roads. These vehicles reduce noise pollution and operational costs, signaling a commitment to environmental stewardship as part of FirstEnergy's broader climate strategy.
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.