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.
Mon Power, a subsidiary of FirstEnergy, has launched its 2021 tree trimming program to clear nearly 5,700 miles of power lines in West Virginia. With an investment of over $70 million, the initiative aims to improve service reliability and reduce power outages, which have dropped by more than 40% since 2015. The program will involve the proactive removal of deteriorated ash trees and is executed by certified forestry experts. Mon Power serves approximately 385,000 customers in 34 counties and operates on a four-year trimming cycle.
Ohio Edison, a subsidiary of FirstEnergy Corp. (NYSE: FE), is investing $22 million in a tree-trimming program across its 34-county Ohio service area. The initiative aims to enhance service reliability by preventing tree-related power outages, particularly during storm seasons. Currently, contractors have trimmed trees along nearly 1,200 miles of electric lines and plan to complete an additional 3,850 miles by year-end. The program is executed every four years and employs both ground crews and aerial saws for efficiency and safety.
Penelec, a subsidiary of FirstEnergy Corp. (NYSE: FE), is enhancing electric service reliability through a $39.4 million vegetation management program in Pennsylvania. The initiative includes tree trimming along 1,000 miles of lines and aims to complete an additional 3,200 miles by year-end. This proactive approach is designed to reduce tree-related power outages, notably during severe weather. In 2020, tree-related outages decreased by 3% compared to 2019. Penelec also completed a five-year effort to remove over 200,000 ash trees affected by the Emerald Ash Borer.
Penn Power, a subsidiary of FirstEnergy Corp. (NYSE: FE), is investing $9.5 million in a tree-trimming program aimed at enhancing service reliability within its western Pennsylvania service area. This initiative will prevent tree-related power outages, especially during the spring and summer storms. Already, nearly 300 miles of electric lines have been trimmed, with an additional 900 miles targeted by year-end. The program includes health-preserving pruning and the removal of dangerous or diseased trees, conducted by certified forestry experts.
Potomac Edison, a subsidiary of FirstEnergy, has initiated its 2021 tree trimming program, planning to clear 1,670 miles of power lines in Maryland and 1,550 miles in West Virginia. The program's cycle has been shortened to four years, enhancing service reliability and reducing tree-related outages. The company will invest approximately $38 million this year and aims to trim over 6,000 circuit miles in Maryland alone. In 2020, tree-related outages decreased by 45%, and service interruptions fell by 75%, showcasing the program's benefits.
The Illuminating Company, a subsidiary of FirstEnergy Corp. (NYSE: FE), is investing $15.5 million in a tree-trimming program aimed at enhancing electric service reliability in northeast Ohio. The initiative covers nearly 600 miles of power lines trimmed so far this year, with plans to complete an additional 1,800 miles by year-end. Aerial saws will be deployed for hard-to-access areas, reducing tree-related outages, especially during severe weather. This proactive approach involves certified forestry experts and aligns with the company's maintenance cycle.
On April 7, 2021, Toledo Edison, a FirstEnergy subsidiary, announced a $7.7 million tree trimming initiative to enhance service reliability for its customers in northwest Ohio. This program aims to prevent tree-related power outages, particularly during storm seasons, with over 450 miles of electric lines already trimmed this year and an additional 1,100 miles scheduled for completion. The tree trimming is conducted on a four-year cycle, focusing on maintaining tree health and safety near power lines.
FirstEnergy Corp. (NYSE: FE) announced a customer credit of approximately $26 million across its Ohio utilities—Ohio Edison, The Illuminating Company, and Toledo Edison. This credit relates to revenues previously collected through a decoupling mechanism as authorized by Ohio law. To mitigate regulatory uncertainty, the company has opted not to recover lost distribution revenue through May 31, 2024, following a partial settlement with the Ohio Attorney General. FirstEnergy aims for transparent engagement with stakeholders while focusing on operational excellence.
The Emergency Rental Assistance Program (ERAP) has been introduced to support low-income renters facing challenges due to the pandemic in Pennsylvania, specifically for customers of FirstEnergy Corp. (NYSE: FE). Signed into law on February 5, 2021, the program will run until December 31, 2021, or until funds are depleted. ERAP funds can cover rental and utility costs. Additional assistance programs are also available for customers of Met-Ed, Penelec, Penn Power, and West Penn Power, including LIHEAP and the Pennsylvania Customer Assistance Program.
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