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. (NYSE: FE) is a utility holding company whose electric distribution companies serve more than six million customers across Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. Its transmission subsidiaries operate approximately 24,000 miles of transmission lines connecting the Midwest and Mid-Atlantic regions. The news surrounding FirstEnergy reflects its role in nuclear electric power generation, electric distribution and transmission within the utilities sector.
This news page brings together company-issued updates and other coverage related to FE. Readers can find announcements about quarterly and annual financial results, earnings teleconferences and investor presentations, often referenced in Form 8-K filings and news releases. These items provide insight into how management views performance, uses GAAP and non-GAAP measures and communicates core earnings guidance and strategic priorities.
Because FirstEnergy operates regulated utilities, a significant portion of its news flow centers on regulatory developments and settlements. Examples include Public Utilities Commission of Ohio (PUCO) proceedings and comprehensive settlement agreements that address riders, audits and customer restitution and refunds for Ohio Edison, The Illuminating Company and Toledo Edison customers. Such updates can be important for understanding potential impacts on rates, customer bills and regulatory relationships.
Operational and infrastructure news is another key theme. FirstEnergy and its subsidiaries, including entities like Mid-Atlantic Interstate Transmission and Jersey Central Power & Light, issue releases on grid modernization projects, high-voltage line rebuilds, substation upgrades and other investments intended to enhance reliability and support growth in local communities.
In addition, the FirstEnergy Foundation regularly announces “Gifts of the Season” and other grants to nonprofits in the company’s service territories, highlighting community and philanthropic initiatives. Investors, customers and observers can use this news page to follow developments across financial, regulatory, operational and community dimensions of FirstEnergy’s business.
FirstEnergy Corp. (NYSE: FE) has declared a quarterly dividend of 39 cents per share, unchanged from previous periods. This dividend will be payable on March 1, 2021, to shareholders of record as of the close of business on February 5, 2021. FirstEnergy operates one of the largest investor-owned electric systems in the U.S., serving customers across multiple states, including Ohio and Pennsylvania.
FirstEnergy Corp. (NYSE:FE) has launched its annual "Merry & Bright" Holiday Lights Contest, inviting utility customers to showcase their outdoor holiday light displays for a chance to win weekly prizes. Customers can submit their entries via their utility's Facebook page until December 18. Each week, one entry from each of FirstEnergy's 10 utility companies will be randomly selected to win a $100 Amazon gift card. The company also emphasizes holiday safety, offering guidelines for safe decoration practices around electricity.
FirstEnergy Corp. (NYSE: FE) is nearing the completion of a modernization project for a 138-kilovolt power line, enhancing service reliability for over 100,000 customers in Portage and Trumbull counties, Ohio. The project involves rebuilding nearly 140 structures and installing higher-capacity conductors, which will reduce outages and improve response times for disturbances. This initiative, part of the multi-year "Energizing the Future" program, aims to upgrade transmission facilities, achieving a 50% reduction in equipment-related outages since 2014.
Potomac Edison, a subsidiary of FirstEnergy Corp. (NYSE: FE), has installed new interior fencing at the Thomas Street substation in Cumberland, Maryland, to reduce outages caused by animal intrusions. This 433-foot perimeter fencing targets climbing animals including squirrels and raccoons, preventing access to electrical equipment. Since 2014, Potomac Edison has installed similar fencing at 17 substations, resulting in a significant reduction in animal-related outages. The Cumberland substation serves nearly 3,800 customers, emphasizing the importance of this proactive measure to enhance service reliability.
Ohio Edison, a subsidiary of FirstEnergy Corp. (NYSE: FE), has completed grid modernization efforts to improve electric service reliability for over 200,000 customers in Trumbull, Mahoning, Ashtabula, and Columbiana counties. The project involved installing 20 automated reclosing devices that can quickly restore power during outages. Additionally, 11 miles of power lines were replaced with more durable materials to withstand severe weather. This initiative is part of a broader Grid Modernization Plan approved by the Public Utilities Commission of Ohio, enhancing service ahead of winter.
The Illuminating Company, a subsidiary of FirstEnergy Corp. (NYSE: FE), is completing grid modernization in Ashtabula and Lake counties, enhancing service reliability for over 150,000 customers. This project includes the installation of 37 automated reclosing devices, replacement of 11 miles of power lines, and installation of nearly 30 capacitor banks. These upgrades aim to improve outage response and service distribution. The work is part of a Grid Modernization Plan approved by the Public Utilities Commission of Ohio, with further phases planned for 2021.
FirstEnergy Corp. (NYSE:FE) provides energy efficiency tips to customers as winter temperatures drop. Key recommendations include lowering thermostat settings, dressing for warmth, and sealing drafts to improve heating efficiency. Customers can save up to 3% on heating costs by reducing thermostat settings by one degree. Other tips include regular filter changes, proper insulation, and utilizing ENERGY STAR® appliances. FirstEnergy's commitment to energy efficiency aims to help customers manage rising energy usage and costs during the cold months.
Potomac Edison, a subsidiary of FirstEnergy Corp. (NYSE: FE), is set to replace 15 substation reclosers by the end of 2020, part of a reliability enhancement initiative started in 2019. The new reclosers utilize single-phase technology, allowing for segment isolation during outages. This upgrade aims to reduce power interruptions and improve service efficiency for about 270,000 customers in Maryland. The project costs $1 million annually and is scheduled to replace 25% of reclosers by the end of 2022, alongside other reliability efforts approved by the Maryland Public Service Commission.
On November 17, 2020, FirstEnergy Corp. (NYSE: FE) was notified by the NYSE of non-compliance with listing requirements due to the delayed filing of its Q3 2020 Form 10-Q. The report, originally due on November 16, 2020, has a six-month grace period until May 17, 2021, for compliance. This delay stems from ongoing internal investigations into executive conduct and a review of the company’s control framework. The firm aims to address its SEC reporting obligations promptly, with no immediate impact on its NYSE stock listing or bonds.
FirstEnergy Corp. (NYSE: FE) has successfully restored power to over 371,000 customers impacted by windstorms, with approximately 72,000 still without service across Ohio, Pennsylvania, West Virginia, Maryland, and New Jersey. Winds of 45-55 mph caused significant damage, including downed wires and broken utility poles. The company mobilized over 800 additional resources to aid in restoration efforts. Current estimates predict that power will be restored to most affected customers by mid-week, with utility companies working continuously to ensure safety and efficiency during repairs.
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