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.
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.
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.
FirstEnergy Corp. (NYSE: FE) announced the appointment of Michael Montaque as vice president of Internal Audit, effective July 12. He will lead the development and execution of the audit plan, ensuring the identification and prevention of business risks. Montaque succeeds Kevin Burgess, who retired after 21 years. With over 30 years of experience in finance, particularly in the energy sector, Montaque's previous role was Chief Audit Executive at Alliant Energy. His leadership aims to strengthen the audit function and restore stakeholder trust.
The Illuminating Company, a subsidiary of FirstEnergy Corp. (NYSE: FE), began a collaboration with wildlife officials to safeguard a red-tailed hawk nest located on a transformer in Strongsville, Ohio. This initiative aims to protect both the nest and service reliability by preventing fire hazards that could result from wet nests near energized power lines. A new pole and transformer were installed, ensuring power was redirected without disrupting service. The company has been proactive in enhancing avian protection efforts, utilizing drones and a mobile app for real-time reporting of avian issues.
Potomac Edison, a subsidiary of FirstEnergy (NYSE: FE), will host two teachers from Washington and Frederick counties in Maryland as part of the 2021 Teacher Externship Program. The externship, lasting four weeks from mid-July to early August, will allow teachers Bobby Burkhart and Steven Hensley to learn about Potomac Edison's operations, including service reliability and emerging technologies. This initiative aims to bridge the gap between educators and businesses, equipping teachers with insights to inform their students about career opportunities in the energy sector.
Penn Power, a FirstEnergy electric company, has completed proactive inspections and maintenance to enhance the electric system ahead of summer's extreme heat and severe weather. This year, FirstEnergy invested over $15 million in technology and equipment upgrades. Inspections covered nearly 750 miles of high voltage power lines, utilizing thermovision cameras to identify potential issues. The company also conducted readiness exercises to improve restoration processes for storm-related outages, ensuring reliability for over 160,000 customers in western Pennsylvania.
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