Firstenergy Corp Stock Price, News & Analysis

FirstEnergy's Potomac Edison has completed winter preparations across its Maryland service area to ensure electric system reliability. The company conducted comprehensive inspections including substation equipment checks, thermovision camera scanning for potential issues, and utility pole stability assessments. Tree trimming along approximately 1,800 miles of power lines is expected to be completed by year-end.

The company has also inspected bucket trucks and vehicles, ensuring proper winter operation including tires and air braking systems. To help customers manage winter heating costs, FirstEnergy provided tips including sealing leaks, proper insulation, and smart thermostat usage. Potomac Edison serves about 285,000 customers across seven Maryland counties.

FirstEnergy (NYSE: FE) subsidiaries Mon Power and Potomac Edison have completed winter preparations across their West Virginia service areas to ensure system reliability. The preparations include substation equipment inspections, thermovision camera checks for potential issues, and tree trimming along 6,800 miles of power lines. The companies have also winterized substation control buildings and inspected vehicles for safe winter operation. Fort Martin and Harrison Power Stations have undergone maintenance and winterization. The company serves approximately 550,000 customers in West Virginia and offers tips for managing seasonal heating bills, including proper insulation and thermostat management.

FirstEnergy Corp. (NYSE: FE) has appointed Mark Andrade as Vice President, Enterprise Technology, effective Dec. 2. Andrade will lead the company's technology modernization and digital transformation initiatives, reporting to John Combs, Senior Vice President, Shared Services. He brings over 35 years of experience, most recently serving as Executive Director, Chief Technology Officer, Enterprise Platforms at JPMorgan Chase & Co. FirstEnergy's electric distribution companies serve more than 6 million customers across six states and operate over 24,000 miles of transmission lines connecting the Midwest and Mid-Atlantic regions.

CRA International (NASDAQ: CRAI) announced an upcoming auction process for FirstEnergy Corp.'s (NYSE: FE) Ohio subsidiaries to procure full requirements service for Standard Service Offer customers. The auction, scheduled for January 21, 2025, will utilize a descending-price clock format and is approved by the Public Utilities Commission of Ohio.

An Information Session for prospective bidders will be held on December 3, 2024 via Zoom. The Part 1 Applications window opens on December 4, 2024, with submissions due by December 17, 2024. Successful applicants can begin Part 2 Applications from December 23, 2024.

JCP&L, a FirstEnergy Corp. (NYSE: FE) subsidiary, is undertaking a $12.5 million project to replace an underwater high-voltage power line serving New Jersey's barrier islands. The new 34.5-kilovolt line will be one of four power sources serving over 13,000 customers across multiple beach communities.

The project involves installing a 7,500-foot submarine cable using an environmentally friendly 12-ton sled that creates minimal disruption to aquatic life. The sled uses water jets at 150 PSI to create a trench one foot wide and over 10 feet deep. A barge will transport the cable equipment while pulling the sled at speeds up to 10 feet per minute. The project is expected to be completed by mid-December.

FirstEnergy Corp. (NYSE: FE) is raising awareness about utility scams on Utility Scam Awareness Day, November 20, 2024. The company has received over 3,400 scam reports in 2024, with many more going unreported. Scammers typically increase their activity during winter months, exploiting customers' fears of service disconnection.

The company provides several tips to avoid scams, including: being wary of unusual payment methods like cryptocurrencies, verifying FirstEnergy employee identification, avoiding door-to-door solicitors, and being cautious of spoofed caller IDs. FirstEnergy emphasizes that legitimate disconnection notices are sent in writing with clear instructions, and customers should only use established payment methods.

FirstEnergy Corp. (NYSE: FE) has issued important safety guidelines for holiday decorating to prevent electrical hazards and fire risks. According to the National Fire Protection Association, holiday decorations cause an average of 835 home fires annually, resulting in $14 million in property damage. The company emphasizes keeping decorations and equipment at least 10 feet from power lines, using UL-approved lights, proper inspection of decorations, and safe installation practices. Key recommendations include using GFCI outlets for outdoor lights, avoiding overloaded extension cords, and maintaining proper distance from flammable items.

FirstEnergy Corp. (NYSE: FE) has secured a $50 million federal grant from the U.S. Department of Energy's Grid Deployment Office for system upgrades totaling nearly $127 million. The projects will enhance electric service reliability for over 53,000 Mon Power and Potomac Edison customers across 19 counties in West Virginia and Maryland. The upgrades, set to complete by late 2029, include installation of smart devices, automation projects, and new power lines. The improvements will benefit approximately 50,660 customers in West Virginia and 2,500 in Maryland, including over 450 critical facilities. The project also includes a new four-year apprenticeship program with training centers in Williamsport, MD, and Fairmont, WV.

JCP&L, a FirstEnergy Corp. (NYSE: FE) subsidiary, is executing a $1.75 million power line relocation project in Bernardsville, Somerset County. The project involves moving lines from the New Jersey Transit railroad tracks to Route 202/Mine Brook Road, with 1,500 feet being installed underground and 1,400 feet of new overhead wires being added. The upgrade includes installing stronger wires and supporting regional industrial growth. The project, prompted by accessibility issues and tornado damage in June 2023, will enhance service reliability for customers in Bernardsville and nearby Bedminster Township by providing backup power sources and reducing demand on the Greater Crossroads substation.