Firstenergy Corp Stock Price, News & Analysis

FirstEnergy Corp. (NYSE: FE) has issued safety and energy-saving guidelines as extreme cold weather approaches its six-state service area. The company anticipates sub-zero temperatures early next week lasting several days. FirstEnergy has completed pre-winter equipment inspections and is reviewing staffing levels and operational procedures to handle potential outages.

The company is coordinating with regional grid operators to ensure reliability and has postponed non-critical planned outage work. Key recommendations include proper use of heating appliances, generator safety, and energy conservation measures like proper ceiling fan usage and sealing air leaks. FirstEnergy also reminds customers about available bill payment assistance programs and outage reporting options through their emergency hotline 1-888-LIGHTSS.

FirstEnergy Corp. (NYSE: FE) subsidiary JCP&L is undertaking a $50.3 million upgrade of a transmission substation in Franklin Borough, Sussex County. The 18-month project aims to enhance reliability for approximately 4,500 customers across Franklin Borough, Hamburg Borough, Hardyston, Ogdensburg, and Sparta.

The upgrades include substation reconfiguration for increased redundancy, installation of new electrical equipment and control enclosure, addition of a third transformer, and replacement of wooden utility poles with steel monopoles. This project is part of Energize365, FirstEnergy's $26 billion grid evolution program planned for 2024-2028 across six states.

Jersey Central Power & Light (JCP&L), a FirstEnergy Corp. (NYSE: FE) subsidiary, is completing two electric system upgrade projects in Monmouth County, investing nearly $400,000 to enhance service for over 4,000 customers in Neptune Township, Monmouth Beach, and Sea Bright.

In Neptune Township, infrastructure upgrades include new fiberglass crossarms and lightning arrestors, benefiting 1,100+ customers. Along the coast, a separate project involves upgrading insulators along a two-mile stretch of high-voltage power line, serving 3,200 customers in Sea Bright and Monmouth Beach. Both projects feature wildlife protection measures, particularly deterring osprey nesting.

These initiatives are part of Energize365, FirstEnergy's $26 billion grid evolution program planned for 2024-2028 across six states, aimed at creating a smarter, more secure power grid.

FirstEnergy Corp. (NYSE: FE) and the FirstEnergy Foundation have contributed over $740,000 in 2024 to support more than 110 nonprofit organizations in JCP&L's service territory. The grants target various community initiatives, including: $120,000 for food insecurity programs, $65,000 to United Way chapters, $64,000 to NJ SHARES for smart meter installation repairs, $58,000 for homelessness initiatives, and $35,000 for veteran programs.

JCP&L serves 1.1 million customers across 13 New Jersey counties. The company provides employees with 16 hours of volunteer time off annually to support 501(c)(3) organizations. The FirstEnergy Foundation focuses on supporting tax-exempt nonprofits in areas served by JCP&L and other FirstEnergy electric companies.

FirstEnergy Transmission (FET) has announced an exchange offer for its outstanding senior notes. The company is offering to exchange up to $400 million of 4.550% Senior Notes due 2030 and up to $400 million of 5.000% Senior Notes due 2035 for equal amounts of new notes registered under the Securities Act.

The exchange offer will expire on January 24, 2025, at 5:00 p.m. New York City time. This exchange is being conducted to fulfill obligations under a registration rights agreement and does not represent a new financing transaction. FET operates electric transmission companies across Ohio, Pennsylvania, West Virginia, Maryland and Virginia.

FirstEnergy Corp. (NYSE: FE) has announced three key appointments effective December 30: Kelly Gower as VP of Finance and Regulatory for Pennsylvania, Teresa Reed as VP of Finance and Regulatory for New Jersey, and Jeremy W. Hay's promotion to VP of Construction and Design Services. Gower and Reed will oversee financial strategy, budgeting, and regulatory relationships in their respective states, while Hay will manage transmission infrastructure construction and design.

These appointments align with FirstEnergy's new business structure, aimed at bringing decision-making closer to customers. The company serves over 6 million customers across six states and operates approximately 24,000 miles of transmission lines connecting the Midwest and Mid-Atlantic regions.

FirstEnergy Pennsylvania (FE PA) has secured approval from the Pennsylvania Public Utility Commission for phase three of its Long-Term Infrastructure Improvement Plans (LTIIP III). The plan involves a $1.42 billion capital investment over the next five years to enhance service reliability for over two million Pennsylvania customers.

The initiative builds on more than $1 billion invested during 2016-2024, which has already reduced customer service interruptions by 14% since 2019. LTIIP III will focus on grid modernization and system resiliency, including installing protective devices, converting power lines, updating underground networks, and replacing aging equipment. The investment will be distributed across service areas: Penelec ($538M), Met-Ed ($382M), West Penn Power ($368M), and Penn Power ($133M).

The FirstEnergy Foundation has awarded nearly $20,000 in 'Gifts of the Season' grants to three New Jersey nonprofits serving JCP&L's service area. The recipients include Pearls of Wisdom Foundation ($6,650), Next Steps Adult Day Program ($6,650), and Project Refit ($6,650). These organizations focus on youth development, special needs adults support, and mental health services for military members and first responders, respectively.

The initiative, established in 2016, has awarded approximately $1.1 million to nonprofits that promote diversity, equity, and inclusion, including nearly $100,000 to New Jersey organizations. To qualify, recipients must be first-time grantees and meet specific diversity criteria in their business ownership or operational focus.

The FirstEnergy Foundation, associated with FirstEnergy Corp. (NYSE: FE), has donated $40,000 to two nonprofit organizations as part of its annual holiday 'Gifts of the Season' campaign. Operation Second Chance and Stars That Shine each received surprise $20,000 donations to support their community work in Maryland and West Virginia.

Operation Second Chance, based in Montgomery County, Maryland, supports wounded combat veterans and their families through various programs, including retreats at Heroes Ridge. Stars That Shine, serving Eastern Panhandle of West Virginia, focuses on mentoring girls and young women through educational and empowerment programs.

Since its 2016 inception, the 'Gifts of the Season' initiative has awarded approximately $1.1 million to nonprofits that align with FirstEnergy's core value of diversity, equity and inclusion.