FirstEnergy Corp. reports developments for an investor-owned electric utility holding company with distribution companies in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York and transmission subsidiaries that connect the Midwest and Mid-Atlantic regions.
Recurring updates cover GAAP and core earnings, distribution and transmission rate-base growth, capital spending for grid reliability, and regulatory proceedings such as Ohio distribution rate plans. Company news also covers projects by American Transmission Systems, Potomac Edison, Ohio Edison, Toledo Edison and The Illuminating Company, including line rebuilds, tree trimming, time-of-use rates, storm restoration and operational leadership changes.
On September 10, 2021, FirstEnergy Foundation announced a $20,000 donation to the Friends of Flight 93 National Memorial, commemorating the 20th anniversary of the September 11 attacks. This contribution supports the education and preservation of the memorial, which honors the bravery of United Flight 93 passengers. Previously, in 2011, the foundation donated $5,000 for the memorial's tenth anniversary. FirstEnergy is committed to supporting non-profits in its service areas and operates one of the largest investor-owned electric systems in the U.S.
ICP Group has appointed Chris Pappas to its Board of Directors, bringing extensive experience in specialty chemicals, coatings, and adhesives. Pappas, former CEO of Trinseo and former board member at FirstEnergy (NYSE: FE) and chairman at Univar (NYSE: UNVR), aims to guide ICP’s growth strategy. CEO Doug Mattscheck expressed confidence in Pappas enhancing the company's market position through organic growth and acquisitions, as ICP expands its leading platform in the coatings and adhesives industry.
FirstEnergy Corp. (NYSE: FE) has dispatched around 500 personnel, including line workers and support teams, to Louisiana to aid in power restoration following Hurricane Ida. The deployment reflects the company's commitment to mutual assistance among electric utilities during emergencies. Over 1 million customers are currently without power in Louisiana due to the hurricane's impact. FirstEnergy's utilities include several from the Northeast and Mid-Atlantic, aiming to expedite recovery efforts in the hardest-hit areas.
Penelec, a subsidiary of FirstEnergy (NYSE: FE), has initiated a project to reconstruct a 5-mile power line between Dushore and New Albany, enhancing its capacity to carry more electricity with a new 34.5-kV line. The upgraded infrastructure will allow line workers to quickly restore power for nearly 4,000 customers in Sullivan County, Pennsylvania, especially after outages. The project, executed in three phases, aims to improve reliability and flexibility in the local electric grid, with the first phase underway and subsequent phases planned for 2022 and 2023.
Toledo Edison, a subsidiary of FirstEnergy Corp. (NYSE: FE), has upgraded equipment and inspected the electric grid in preparation for the upcoming Solheim Cup, beginning August 31, 2021. These enhancements include new automated equipment, increased staffing, and improved street lighting to ensure reliable power during the international women's golf event. The company's efforts aim to support the local economy and enhance community pride as Toledo hosts this prestigious competition.
On August 25, 2021, The Illuminating Company, a subsidiary of FirstEnergy Corp. (NYSE: FE), completed protective measures for young eagles near Redwood Elementary School in Avon Lake, Ohio. They installed a tall wooden extension on a utility pole for safer perching and insulated nearby power lines to prevent accidents. This initiative is part of FirstEnergy's broader commitment, having executed over 100 projects in the last five years to protect birds of prey. The company employs innovative solutions like drones and mobile apps to enhance bird protection and reduce power outages.
Potomac Edison, a subsidiary of FirstEnergy Corp (NYSE: FE), has successfully upgraded its electrical system in Grant County, West Virginia, enhancing service reliability for over 2,100 customers. The $1.4 million project involved splitting a 286-mile power line into two smaller circuits and installing automated reclosers to improve outage management. Customers are now less likely to experience prolonged outages, especially during severe weather. This initiative marks Potomac Edison’s first automation project of this kind in West Virginia.
Penn Power, a FirstEnergy electric company, has initiated construction on a new distribution substation in Lawrence County, Pennsylvania, to meet rising electricity demands and improve power restoration. This project will serve over 30,000 customers in areas including New Castle, North Beaver Township, and Shenango Township. The substation will feature automated technology to minimize outages and expedite recovery, with completion expected by year-end. This investment continues FirstEnergy's Long Term Infrastructure Improvement Plan, which has already reduced local outages by 20% since 2016.
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FirstEnergy Corp. (NYSE: FE) has joined the Electric Highway Coalition to expand electric vehicle (EV) charging infrastructure across key highway systems. This coalition aims to alleviate 'range anxiety' for EV drivers and facilitate long-distance travel through efficient fast-charging solutions. FirstEnergy is also engaging with regulators to support EV infrastructure development and plans to electrify 30% of its fleet by 2030, targeting carbon neutrality by 2050. The company will install 59 charging stations in Maryland as part of its EV Driven pilot program.