Firstenergy Corp Stock Price, News & Analysis

FirstEnergy's subsidiaries, Mon Power and Potomac Edison, have filed with the West Virginia Public Service Commission to lower electric rates by $50 million in 2021. This follows a $55 million reduction in fuel and power costs. If approved, typical residential bills will decrease by 3% or $3.24 monthly, averaging $103.62. The new rates, effective Jan. 1, 2021, are projected to remain 22% below the national average. Additionally, a separate filing seeks to recover $5 million for boiler modernizations, ensuring environmental compliance.

FirstEnergy Corp. (NYSE: FE) has received recognition from the Edison Electric Institute for exceptional service to multisite National Account customers, including major brands like Costco and Walmart. This marks the fifth time the company has been honored, reflecting its commitment to providing efficient support with energy management strategies. The award was announced on September 9 and highlights FirstEnergy's role in serving over 200 national brands, facilitating effective energy solutions across its six-state service area.

FirstEnergy Corp. (NYSE: FE) has announced that starting in 2021, 100% of its new aerial and light duty truck purchases will be electric or hybrid vehicles. This initiative aims to reduce greenhouse gas emissions across its fleet. By 2030, the company plans to electrify 30% (1,034 vehicles) of its approximate 3,400 vehicle fleet, potentially eliminating 10,000 metric tons of GHG emissions annually and saving over 3.8 million gallons of fuel from 2021-2030. The company also has a purchase agreement with Lordstown Motors for 250 electric pickup trucks.

FirstEnergy Corp. (NYSE: FE) has initiated the "Stop. Look. Live." safety campaign to enhance public awareness about electrical safety. The campaign promotes three essential safety steps: STOP to consider personal safety, LOOK for hazards, and LIVE by taking precautions against electrical contact. It targets first responders and contractors, launching educational programs for school children. The multi-channel initiative includes radio spots, digital ads, and brochures, emphasizing FirstEnergy's commitment to community safety. For additional details, visit www.firstenergycorp.com/publicsafety.

FirstEnergy Corp. is deploying 190 line workers and support personnel to assist Alabama Power in restoring power following Hurricane Sally, which struck Alabama as a Category 2 storm with 100 mph winds. This mutual aid effort underscores FirstEnergy's commitment to helping other utilities during crises, having also recently aided in Texas and Louisiana after Hurricane Laura. Although Hurricane Sally's remnants are not expected to affect FirstEnergy's service areas, the company is prepared to maintain reliable operations for its customers.

FirstEnergy Corp. (NYSE: FE) declared a quarterly dividend of 39 cents per share, remaining unchanged from previous periods. This dividend is payable on December 1, 2020, to shareholders on record by November 6, 2020. The company aims to maintain its commitment to safety and operational excellence across its extensive electric distribution network serving multiple states including Ohio and Pennsylvania. Financial stability remains a focus for FirstEnergy amidst ongoing challenges, including COVID-19 impacts and government investigations.

West Penn Power, a subsidiary of FirstEnergy Corp. (NYSE: FE), will implement a $147 million Long-Term Infrastructure Improvement Plan (LTIIP II) over the next five years to enhance service reliability for its 725,000 customers. This plan includes the installation of 6,000 to 7,500 fuses, costing around $21 million, intended to reduce outage impacts caused by severe weather and equipment failures. The initiative should improve equipment protection and decrease the average number of customers affected by outages by over 10% compared to previous installations.

FirstEnergy Corp. (NYSE: FE) has dispatched over 525 line workers and support teams to Beaumont, Texas, to aid Entergy's recovery efforts following Hurricane Laura. The hurricane, classified as a category 4 storm, is expected to hit Texas and Louisiana, prompting FirstEnergy to respond despite no expected impact on its own services. Notably, eight of FirstEnergy's utilities are participating in this mutual assistance initiative, showcasing the company's commitment to safety and reliability during crises.