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. (FE) news coverage provides insight into one of the nation's largest regulated electric utilities, serving approximately six million customers across Ohio, Pennsylvania, New Jersey, West Virginia, Maryland, and New York. As a major transmission and distribution company operating over 24,000 miles of high-voltage lines, FirstEnergy generates news spanning regulatory proceedings, infrastructure investments, and quarterly financial performance.
Utility sector news for FirstEnergy typically centers on rate case decisions from state public utility commissions, grid reliability improvement projects, and transmission expansion initiatives. The company's participation in PJM Interconnection means developments in regional wholesale electricity markets can affect its transmission revenues and operational planning. Settlement agreements with regulatory bodies, like those involving the Public Utilities Commission of Ohio, represent significant events that shape the company's financial outlook.
FirstEnergy's dividend declarations and quarterly earnings announcements provide regular updates on the company's financial health and cash flow generation. Infrastructure investment news highlights grid modernization efforts, including projects to strengthen service reliability, reduce outage durations, and accommodate changing electricity demand patterns. Coverage of convertible note offerings and other capital market activities reveals how the company finances its substantial infrastructure programs.
Bookmark this page to follow FirstEnergy developments affecting shareholders, ratepayers, and energy market observers. News coverage includes earnings releases, regulatory filings, infrastructure announcements, and corporate developments relevant to understanding this major electric utility's operations and financial trajectory.
West Penn Power, a subsidiary of FirstEnergy Corp. (NYSE: FE), has hired 30 graduates from its Power Systems Institute (PSI) program. This includes 22 line workers from Westmoreland County Community College and 8 substation electricians from Pennsylvania Highlands Community College. The PSI program, celebrating its 20th anniversary, has produced over 2,000 trained personnel since its inception. Graduates earn an associate degree and are equipped to enhance workforce diversity and safety in electric service provision, crucial for West Penn Power's operations serving approximately 725,000 customers in Pennsylvania.
FirstEnergy Corp. has completed extensive inspections and maintenance of its transmission system ahead of summer, ensuring reliability for its customers. This proactive approach encompasses approximately 24,000 miles of transmission lines, helicopter patrols for equipment checks, and assessments to prepare for peak summer electricity demand. The company has invested $70 million in vegetation management, trimming over 1,400 miles of high-voltage lines. Since launching its Energizing the Future initiative in 2014, outage durations have decreased by 32%, reflecting significant improvements in system reliability.
FirstEnergy Corp. (NYSE: FE) announced the appointment of Michael Montaque as vice president of Internal Audit, effective July 12. He will lead the development and execution of the audit plan, ensuring the identification and prevention of business risks. Montaque succeeds Kevin Burgess, who retired after 21 years. With over 30 years of experience in finance, particularly in the energy sector, Montaque's previous role was Chief Audit Executive at Alliant Energy. His leadership aims to strengthen the audit function and restore stakeholder trust.
The Illuminating Company, a subsidiary of FirstEnergy Corp. (NYSE: FE), began a collaboration with wildlife officials to safeguard a red-tailed hawk nest located on a transformer in Strongsville, Ohio. This initiative aims to protect both the nest and service reliability by preventing fire hazards that could result from wet nests near energized power lines. A new pole and transformer were installed, ensuring power was redirected without disrupting service. The company has been proactive in enhancing avian protection efforts, utilizing drones and a mobile app for real-time reporting of avian issues.
Potomac Edison, a subsidiary of FirstEnergy (NYSE: FE), will host two teachers from Washington and Frederick counties in Maryland as part of the 2021 Teacher Externship Program. The externship, lasting four weeks from mid-July to early August, will allow teachers Bobby Burkhart and Steven Hensley to learn about Potomac Edison's operations, including service reliability and emerging technologies. This initiative aims to bridge the gap between educators and businesses, equipping teachers with insights to inform their students about career opportunities in the energy sector.
Penn Power, a FirstEnergy electric company, has completed proactive inspections and maintenance to enhance the electric system ahead of summer's extreme heat and severe weather. This year, FirstEnergy invested over $15 million in technology and equipment upgrades. Inspections covered nearly 750 miles of high voltage power lines, utilizing thermovision cameras to identify potential issues. The company also conducted readiness exercises to improve restoration processes for storm-related outages, ensuring reliability for over 160,000 customers in western Pennsylvania.
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