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. 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.
FirstEnergy Corp. (NYSE: FE) has announced the election of Lisa Winston Hicks and Paul Kaleta to its Board of Directors, expanding the board to 16 members. Hicks brings extensive legal and leadership experience from various sectors, while Kaleta has decades of expertise in the energy field. Both will serve on a new Special Litigation Committee focused on handling pending shareholder derivative litigation. This addition aims to strengthen governance and oversight as the company navigates ongoing regulatory challenges and seeks to enhance its operational integrity.
Jersey Central Power & Light (JCP&L), a subsidiary of FirstEnergy Corp. (NYSE: FE), has welcomed 36 new graduates from its Power Systems Institute (PSI) training program. This initiative, which has been operational for 20 years, focuses on developing skilled line and substation workers. The new hires, comprising 23 line workers and 13 substation electricians, will enhance JCP&L's workforce serving 1.1 million customers in New Jersey. The PSI program has successfully trained over 2,000 personnel since its inception, contributing to the company's commitment to safety and reliability in electric service.
FirstEnergy Corp. (NYSE: FE) subsidiary Met-Ed has welcomed 33 new employees from its Power Systems Institute (PSI), a program designed to prepare skilled line and substation workers. This cohort includes 24 line workers and 9 substation electricians, all graduates of a partnership with Reading Area Community College. The PSI program, operational for 20 years, emphasizes safe work practices and has produced over 2,000 trained personnel. Met-Ed serves about 570,000 customers across Pennsylvania, ensuring reliable electric service.
Mon Power, a subsidiary of FirstEnergy Corp. (NYSE: FE), has expanded its workforce by hiring 18 graduates from its Power Systems Institute (PSI) program. This initiative aims to train future line and substation workers, with the latest hires comprising 16 line workers and two substation electricians in West Virginia. The PSI program, established in 2012, has successfully graduated over 2,000 personnel and emphasizes safe work practices and hands-on experience. Mon Power serves approximately 385,000 customers across 34 counties in West Virginia.
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Penelec, a subsidiary of FirstEnergy Corp. (NYSE: FE), has welcomed 28 new graduates from its Power Systems Institute (PSI), enhancing its workforce dedicated to providing reliable electric service. The program, established 20 years ago, trains line and substation workers through a rigorous curriculum, combining classroom education and hands-on experience. Over 2,000 graduates have been hired since its inception. The new hires include 22 line workers and six substation electricians, showcasing Penelec’s commitment to workforce development and safe work practices.
Potomac Edison, a subsidiary of FirstEnergy Corp. (NYSE: FE), has hired 15 graduates from its Power Systems Institute (PSI), aimed at training future line and substation workers. This includes 13 line workers and two substation electricians from Blue Ridge Community & Technical College. The PSI program, established in 2000, has produced over 2,000 graduates. James A. Sears, Jr., president of FirstEnergy's Maryland Operations, emphasized the program's role in creating a skilled, diverse workforce to ensure reliable service for their 270,000 customers in Maryland and 137,000 in West Virginia.
West Penn Power, a subsidiary of FirstEnergy Corp. (NYSE: FE), has hired 30 graduates from its Power Systems Institute (PSI) program. This includes 22 line workers from Westmoreland County Community College and 8 substation electricians from Pennsylvania Highlands Community College. The PSI program, celebrating its 20th anniversary, has produced over 2,000 trained personnel since its inception. Graduates earn an associate degree and are equipped to enhance workforce diversity and safety in electric service provision, crucial for West Penn Power's operations serving approximately 725,000 customers in Pennsylvania.
The Illuminating Company, a subsidiary of FirstEnergy Corp. (NYSE: FE), has welcomed 17 new graduates from its Power Systems Institute (PSI) program, aimed at training line and substation workers. This two-year program, in partnership with Cuyahoga Community College and Stark State College, has been operating for 20 years and has trained over 2,000 personnel. The new hires include 10 line workers and 7 substation electricians, enhancing the workforce focused on providing reliable electric service in Northeast Ohio.
FirstEnergy Corp. has completed extensive inspections and maintenance of its transmission system ahead of summer, ensuring reliability for its customers. This proactive approach encompasses approximately 24,000 miles of transmission lines, helicopter patrols for equipment checks, and assessments to prepare for peak summer electricity demand. The company has invested $70 million in vegetation management, trimming over 1,400 miles of high-voltage lines. Since launching its Energizing the Future initiative in 2014, outage durations have decreased by 32%, reflecting significant improvements in system reliability.