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.
On June 9, 2021, FirstEnergy Corp. (NYSE:FE) shared energy-saving tips to help customers manage costs during high summer temperatures. With increasing demand for air conditioning, customers can reduce energy usage by setting thermostats higher, using fans, and operating HVAC systems efficiently. The company is proactively inspecting its infrastructure to handle increased electricity demands and prevent outages. Customers are encouraged to check their energy efficiency and consider rebates for ENERGY STAR appliances. More resources on energy savings and bill assistance are available on their website.
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Jersey Central Power and Light (JCP&L), a subsidiary of FirstEnergy Corp. (NYSE: FE), has completed inspections and maintenance projects across its service area to enhance reliability ahead of the summer and hurricane season. JCP&L utilized helicopters and ground teams to inspect over 780 miles of transmission lines, addressing potential issues. The company invested $97 million in automation and infrastructure improvements. Additionally, JCP&L's certified meteorologists are strategically staging equipment and resources to mitigate storm impacts.
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Jersey Central Power and Light (JCP&L), a subsidiary of FirstEnergy Corp. (NYSE: FE), has resumed indoor electric meter reading after a suspension since March 2020 due to the pandemic. This resumption may lead to higher bills for customers, as bills during the suspension were estimated based on prior usage. Actual meter reading will reflect uncharged electricity usage from previous months. JCP&L emphasizes customer service support for those experiencing higher bills. The company serves 1.1 million customers across various New Jersey counties.
Potomac Edison, a subsidiary of FirstEnergy (NYSE: FE), is employing a helicopter with an aerial saw for tree trimming along six high-voltage transmission lines across Maryland, West Virginia, and Virginia. This initiative began on May 20, 2021, and will continue until mid-July. The program aims to maintain electrical clearances, reducing tree-related power outages, particularly during severe weather. This year, Potomac Edison plans to clear approximately 1,670 miles of lines in Maryland and 1,550 miles in West Virginia as part of a $38 million vegetation management initiative.
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On May 21, 2021, Jersey Central Power and Light (JCP&L), a subsidiary of FirstEnergy (NYSE: FE), completed its annual storm restoration exercise in preparation for hurricane season. For the first time, the training was conducted virtually due to COVID-19 safety protocols. The drill involved various employee groups and emphasized power restoration during severe weather. Enhancements made from past storms include improved communication and restoration processes. JCP&L serves 1.1 million customers across New Jersey, ensuring emergency preparedness and service reliability.
West Penn Power, a subsidiary of FirstEnergy Corp. (NYSE: FE), conducted its annual emergency drill to test storm restoration processes amidst potential severe weather. The virtual drill aimed to prepare employees for storm management, simulating a powerful storm with tornadoes affecting its service area in Pennsylvania. The exercise identified areas for improvement in business continuity and employee communication during emergencies. Serving approximately 734,000 customers, West Penn Power emphasizes reliability and operational excellence.