Firstenergy Corp Stock Price, News & Analysis

A newly operational substation in Warren Township played a crucial role in maintaining power for JCP&L customers during Tropical Storm Isaias. The Martinsville Substation, activated in June 2020, significantly reduced power outages caused by falling trees, protecting about 9,200 customers. This infrastructure enhances the electric system's reliability and allows for quicker power restoration. Part of FirstEnergy's 'Energizing the Future' initiative, the substation was built to improve service across northern New Jersey, impacting nearly 1.1 million customers.

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FirstEnergy Corp. (NYSE: FE) is donating school supplies to nearly 11,400 students in Akron, Ohio, supporting kindergarten through sixth-grade kids. The drive-through event takes place on October 4, 2020, at North and Kenmore-Garfield High Schools, where backpacks filled with essential items will be distributed. These supplies, sourced from diverse suppliers, aim to assist students affected by the cancellation of the annual 'Stuff the Bus' program due to the coronavirus pandemic. FirstEnergy's initiative reflects its commitment to community support during challenging times.

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Jersey Central Power & Light (JCP&L), a subsidiary of FirstEnergy Corp. (NYSE: FE), received the 2020 Companies that Care award from the Commerce and Industry Association of New Jersey for a donation to Lake Riviera Middle School. The funds supported the purchase of a greenhouse for the school's culinary arts program and local food banks. This initiative is part of JCP&L's commitment to community support. The award was presented at the annual Best Practices Conference on September 30, 2020.

FirstEnergy Corp. (NYSE: FE) announced a Request for Proposal (RFP) for Ohio-compliant Renewable Energy Credits (RECs) for its Ohio utilities, including Ohio Edison, The Illuminating Company, and Toledo Edison. The RFP aims to purchase 373,000 RECs to meet 2020 renewable energy targets under Ohio's alternative energy law. RECs must be compliant as per the Public Utilities Commission of Ohio (PUCO) regulations and generated between January 1, 2018, and December 31, 2020. Bidders are required to meet specific credit qualifications, with proposals due by November 10, 2020.

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.