Firstenergy Corp Stock Price, News & Analysis

Ohio Edison, a subsidiary of FirstEnergy Corp. (NYSE: FE), has completed grid modernization efforts to improve electric service reliability for over 200,000 customers in Trumbull, Mahoning, Ashtabula, and Columbiana counties. The project involved installing 20 automated reclosing devices that can quickly restore power during outages. Additionally, 11 miles of power lines were replaced with more durable materials to withstand severe weather. This initiative is part of a broader Grid Modernization Plan approved by the Public Utilities Commission of Ohio, enhancing service ahead of winter.

The Illuminating Company, a subsidiary of FirstEnergy Corp. (NYSE: FE), is completing grid modernization in Ashtabula and Lake counties, enhancing service reliability for over 150,000 customers. This project includes the installation of 37 automated reclosing devices, replacement of 11 miles of power lines, and installation of nearly 30 capacitor banks. These upgrades aim to improve outage response and service distribution. The work is part of a Grid Modernization Plan approved by the Public Utilities Commission of Ohio, with further phases planned for 2021.

FirstEnergy Corp. (NYSE:FE) provides energy efficiency tips to customers as winter temperatures drop. Key recommendations include lowering thermostat settings, dressing for warmth, and sealing drafts to improve heating efficiency. Customers can save up to 3% on heating costs by reducing thermostat settings by one degree. Other tips include regular filter changes, proper insulation, and utilizing ENERGY STAR® appliances. FirstEnergy's commitment to energy efficiency aims to help customers manage rising energy usage and costs during the cold months.

Potomac Edison, a subsidiary of FirstEnergy Corp. (NYSE: FE), is set to replace 15 substation reclosers by the end of 2020, part of a reliability enhancement initiative started in 2019. The new reclosers utilize single-phase technology, allowing for segment isolation during outages. This upgrade aims to reduce power interruptions and improve service efficiency for about 270,000 customers in Maryland. The project costs $1 million annually and is scheduled to replace 25% of reclosers by the end of 2022, alongside other reliability efforts approved by the Maryland Public Service Commission.

On November 17, 2020, FirstEnergy Corp. (NYSE: FE) was notified by the NYSE of non-compliance with listing requirements due to the delayed filing of its Q3 2020 Form 10-Q. The report, originally due on November 16, 2020, has a six-month grace period until May 17, 2021, for compliance. This delay stems from ongoing internal investigations into executive conduct and a review of the company’s control framework. The firm aims to address its SEC reporting obligations promptly, with no immediate impact on its NYSE stock listing or bonds.

FirstEnergy Corp. (NYSE: FE) has successfully restored power to over 371,000 customers impacted by windstorms, with approximately 72,000 still without service across Ohio, Pennsylvania, West Virginia, Maryland, and New Jersey. Winds of 45-55 mph caused significant damage, including downed wires and broken utility poles. The company mobilized over 800 additional resources to aid in restoration efforts. Current estimates predict that power will be restored to most affected customers by mid-week, with utility companies working continuously to ensure safety and efficiency during repairs.

Metropolitan Edison (Met-Ed), a subsidiary of FirstEnergy Corp (NYSE: FE), is proactively conducting inspections and maintenance on essential equipment ahead of the winter season in Pennsylvania. This initiative is aimed at enhancing system resiliency and service reliability for approximately 570,000 customers. Key actions include inspecting substation components, ensuring winter readiness of vehicles, and completing aerial inspections of 1,400 miles of transmission lines. The emphasis on employee safety and the importance of preventing service interruptions are highlighted throughout the maintenance activities.

FirstEnergy Corp.'s subsidiary, Penelec, is enhancing system resiliency and service reliability across its 31-county service area in Pennsylvania by completing winter inspections and maintenance on weather-sensitive equipment. With the potential for increased electricity demand due to frigid temperatures and inclement weather, Penelec is ensuring safety and reliability. This includes checking heaters, inspecting substation components, and conducting helicopter patrols of transmission lines. Penelec serves approximately 585,000 customers within 17,600 square miles in northern and central Pennsylvania.

Toledo Edison, a subsidiary of FirstEnergy Corp (NYSE: FE), is undertaking inspections and maintenance of its weather-sensitive equipment to ensure reliable power delivery during the winter months. With an increased demand for electricity expected due to cold weather, the company is proactively checking substation components, inspecting vehicles for safe winter operations, and utilizing helicopter patrols for line inspections. This initiative is vital for enhancing service reliability for over 300,000 customers in northwest Ohio.