Firstenergy Corp Stock Price, News & Analysis

The Illuminating Company, a subsidiary of FirstEnergy Corp. (NYSE: FE), awarded $5,000 "Gifts of the Season" to two nonprofit organizations in Northern Ohio: the USO of Northern Ohio and Taking Back Our Youth. This initiative, part of the FirstEnergy Foundation's holiday campaign, supports local veterans and at-risk youth. Since 2016, nearly $500,000 has been granted through this campaign. The USO aids approximately 45,000 military members, while Taking Back Our Youth focuses on mentoring and resources for incarcerated youth.

FirstEnergy Corp.'s subsidiary, Ohio Edison, donated $5,000 to two local nonprofits, Miriam House and the Nord Center, as part of its holiday "Gifts of the Season" campaign. The initiative aims to support organizations aiding underserved individuals during challenging times. Miriam House provides transitional housing for homeless women and children, while the Nord Center offers comprehensive behavioral health services. Since 2016, the campaign has awarded nearly $500,000 to strengthen community support services.

On December 21, 2020, FirstEnergy announced a donation of $15,000 to the Trees for Troops campaign, continuing its commitment to support military families during the holidays. This marks the second year of collaboration with the initiative, which has delivered over 244,000 Christmas trees since its inception in 2005. The funding comes from the FirstEnergy Foundation, which supports various non-profits in areas served by the company, further underscoring its dedication to community welfare and military support.

FirstEnergy Corp. (NYSE: FE) is preparing for significant service interruptions due to a potent nor'easter forecasted to bring up to two feet of snow to parts of Pennsylvania and northern New Jersey on December 16-17, 2020. The storm may also result in heavy rain and winds up to 55 mph along the Jersey shore. To tackle potential outages, FirstEnergy is activating storm response plans, deploying extra personnel, and coordinating with contractors. Customers are advised to report outages and stay safe during the storm.

FirstEnergy Corp. (NYSE: FE) has declared a quarterly dividend of 39 cents per share, unchanged from previous periods. This dividend will be payable on March 1, 2021, to shareholders of record as of the close of business on February 5, 2021. FirstEnergy operates one of the largest investor-owned electric systems in the U.S., serving customers across multiple states, including Ohio and Pennsylvania.

FirstEnergy Corp. (NYSE:FE) has launched its annual "Merry & Bright" Holiday Lights Contest, inviting utility customers to showcase their outdoor holiday light displays for a chance to win weekly prizes. Customers can submit their entries via their utility's Facebook page until December 18. Each week, one entry from each of FirstEnergy's 10 utility companies will be randomly selected to win a $100 Amazon gift card. The company also emphasizes holiday safety, offering guidelines for safe decoration practices around electricity.

FirstEnergy Corp. (NYSE: FE) is nearing the completion of a modernization project for a 138-kilovolt power line, enhancing service reliability for over 100,000 customers in Portage and Trumbull counties, Ohio. The project involves rebuilding nearly 140 structures and installing higher-capacity conductors, which will reduce outages and improve response times for disturbances. This initiative, part of the multi-year "Energizing the Future" program, aims to upgrade transmission facilities, achieving a 50% reduction in equipment-related outages since 2014.

Potomac Edison, a subsidiary of FirstEnergy Corp. (NYSE: FE), has installed new interior fencing at the Thomas Street substation in Cumberland, Maryland, to reduce outages caused by animal intrusions. This 433-foot perimeter fencing targets climbing animals including squirrels and raccoons, preventing access to electrical equipment. Since 2014, Potomac Edison has installed similar fencing at 17 substations, resulting in a significant reduction in animal-related outages. The Cumberland substation serves nearly 3,800 customers, emphasizing the importance of this proactive measure to enhance service reliability.

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.