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.
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FirstEnergy Corp. (NYSE: FE) has dispatched over 525 line workers and support teams to Beaumont, Texas, to aid Entergy's recovery efforts following Hurricane Laura. The hurricane, classified as a category 4 storm, is expected to hit Texas and Louisiana, prompting FirstEnergy to respond despite no expected impact on its own services. Notably, eight of FirstEnergy's utilities are participating in this mutual assistance initiative, showcasing the company's commitment to safety and reliability during crises.
FirstEnergy Foundation has awarded a $27,000 grant to the Western Reserve Land Conservancy for a conservation project at Chagrin River Landing in Eastlake, Ohio. This funding completes a total project budget of $386,000, aimed at transforming a former marina into a public access park for fishing, canoeing, and kayaking. The project will enhance recreational opportunities and support environmental goals by restoring natural habitats. Work is expected to commence this fall, with efforts including property cleanup and native plantings.
The Pennsylvania Electric Company (Penelec), a subsidiary of FirstEnergy Corp. (NYSE: FE), is set to install around 2,000 automated "TripSaver" reclosing devices over the next five years to enhance service reliability. The initiative, part of a $200 million Long Term Infrastructure Improvement Plan, aims to reduce service interruptions for Penelec's 585,000 customers. Approximately 400 TripSavers will be installed in 2020, costing about $3.5 million. This technology helps to quickly restore power during outages, improving efficiency and safety for both customers and employees.
FirstEnergy Corp's Potomac Edison encourages customers facing financial challenges to enroll in payment plans and bill assistance programs. Due to the pandemic, disconnections for nonpayment are momentarily suspended, allowing customers to manage their balances better. Assistance programs include the Community Energy Fund, Maryland Energy Assistance Program, and Utility Service Protection Program, aimed at helping low-income customers with overdue bills. Potomac Edison serves 270,000 customers in Maryland and 137,000 in West Virginia, dedicating resources to assist both residential and commercial clients.
FirstEnergy Corp (NYSE: FE) urges its Ohio customers facing financial difficulties to enroll in available payment plans and bill assistance programs amid the ongoing pandemic. While disconnections for nonpayment are temporarily halted, establishing a manageable payment arrangement is essential. Programs available include the Percentage of Income Payment Plan, Ohio Fuel Fund, Home Energy Assistance Program, and Emergency Hardship Funds. Customers can contact their respective utility companies for assistance and program details, ensuring they do not face overwhelming bills once shutoff protections are lifted.
On August 17, 2020, Jersey Central Power and Light (JCP&L), a subsidiary of FirstEnergy Corp (NYSE: FE), urged customers facing financial difficulties to enroll in payment plans and bill assistance programs amid the pandemic. Temporary shut-off suspensions highlight the importance of manageable payment arrangements to prevent overwhelming future bills. Assistance options include the Universal Service Fund Programs, Low Income Energy Assistance Program, Lifeline, and others, designed to aid low- to moderate-income customers. JCP&L serves 1.1 million customers across New Jersey.
FirstEnergy Corp. informs Mon Power and Potomac Edison customers in West Virginia about available payment plans and bill assistance programs to manage their utility costs during the pandemic. With shutoffs paused, customers should reach out for arrangements to address overdue balances. Available programs include the Dollar Energy Fund, the West Virginia Emergency Assistance Program, and a 20 Percent Discount Program. Customer service teams are ready to assist residential and business clients with these options.
FirstEnergy Corp's Pennsylvania electric utilities are urging residential and business customers facing financial hardships due to the pandemic to enroll in payment plans and bill assistance programs. While shutoffs for nonpayment are suspended, establishing affordable arrangements is crucial for managing overdue balances. Assistance programs include the Dollar Energy Fund offering up to $500, the Pennsylvania Customer Assistance Program, and LIHEAP grants of up to $800, available until August 31. Customers can contact their utilities for more information and support.
FirstEnergy Corp. (NYSE: FE) has made significant progress in restoring power to customers affected by Tropical Storm Isaias. Over 785,200 out of 788,000 customers have had their service restored, with expectations for full restoration by midnight. Utility crews have repaired extensive damage, replacing over 53 miles of wire and more than 550 poles. Approximately 2,800 customers remain without power, requiring individualized restoration efforts due to localized issues. The utility has emphasized health safety protocols as crews work around the clock.