Firstenergy Corp Stock Price, News & Analysis

FirstEnergy Corp. (NYSE: FE) has achieved a milestone of planting 100,000 donated trees since launching its tree planting program in 2020. The company has significantly exceeded its 2024 goal of 25,000 trees, with nearly 34,000 trees planted this year alone. The program, led by FirstEnergy's Green Teams, has grown from 1,000 trees in 2020 to over 101,000 trees planted at nearly 300 different events.

In 2024, about 650 Green Team members volunteered over 3,000 hours at nearly 150 events across six states, with notable achievements in Ohio (10,000+ trees), Pennsylvania (9,000+ trees), and West Virginia (6,700+ trees). More than half of the planting events were conducted in underserved areas, focusing on communities with specific socioeconomic and environmental challenges.

FirstEnergy's subsidiary Met-Ed is constructing a new electrical substation in South Annville Township, Pennsylvania, to support growing industrial development. The project, started in spring 2024 and expected to complete by early 2025, will enhance service reliability for over 2,100 customers in Annville, South Annville Township, and Palmyra.

The substation will power new warehouse facilities, including the 1.1-million-square-foot Eagle Point Logistics Center and a planned 1 million-square-foot facility at Clear Springs Logistics Park. The project includes installation of a 69-kV-to-13.2-kV transformer and new distribution lines. This development is part of FirstEnergy's Energize365 program, which plans $26 billion in investments between 2024-2028 to create a smarter, more secure grid.

JCP&L, a FirstEnergy Corp. (NYSE: FE) subsidiary, has initiated construction on infrastructure upgrades to enhance electric reliability in three Morris County communities. The project, part of a $95 million New Jersey Reliability Improvement Project, will benefit over 2,100 customers and is scheduled for completion in October 2025.

The upgrades include installing stronger wires and poles, upgrading fuses, adding reclosers for power rerouting, implementing TripSaver devices for automatic line restoration, and enhancing vegetation management. The project consists of two phases, with the first phase set for completion in three years and the second phase targeted for completion by 2028.

JCP&L, a FirstEnergy Corp. (NYSE: FE) subsidiary, has completed pre-winter maintenance and inspections across its 3,200-square-mile service region to ensure reliable power supply during winter. The company has conducted comprehensive preparations including winterizing substations, tuning heating equipment, inspecting batteries and transmission lines, and servicing vehicles.

The company has trimmed trees along more than 3,100 miles of power lines this year, with 300 additional miles planned by December's end. JCP&L serves 1.1 million customers across 13 New Jersey counties and has implemented various measures to help customers manage seasonal heating bills, including offering energy efficiency tips and assistance programs.

FirstEnergy's Potomac Edison has completed winter preparations across its Maryland service area to ensure electric system reliability. The company conducted comprehensive inspections including substation equipment checks, thermovision camera scanning for potential issues, and utility pole stability assessments. Tree trimming along approximately 1,800 miles of power lines is expected to be completed by year-end.

The company has also inspected bucket trucks and vehicles, ensuring proper winter operation including tires and air braking systems. To help customers manage winter heating costs, FirstEnergy provided tips including sealing leaks, proper insulation, and smart thermostat usage. Potomac Edison serves about 285,000 customers across seven Maryland counties.

FirstEnergy (NYSE: FE) subsidiaries Mon Power and Potomac Edison have completed winter preparations across their West Virginia service areas to ensure system reliability. The preparations include substation equipment inspections, thermovision camera checks for potential issues, and tree trimming along 6,800 miles of power lines. The companies have also winterized substation control buildings and inspected vehicles for safe winter operation. Fort Martin and Harrison Power Stations have undergone maintenance and winterization. The company serves approximately 550,000 customers in West Virginia and offers tips for managing seasonal heating bills, including proper insulation and thermostat management.

FirstEnergy Corp. (NYSE: FE) has appointed Mark Andrade as Vice President, Enterprise Technology, effective Dec. 2. Andrade will lead the company's technology modernization and digital transformation initiatives, reporting to John Combs, Senior Vice President, Shared Services. He brings over 35 years of experience, most recently serving as Executive Director, Chief Technology Officer, Enterprise Platforms at JPMorgan Chase & Co. FirstEnergy's electric distribution companies serve more than 6 million customers across six states and operate over 24,000 miles of transmission lines connecting the Midwest and Mid-Atlantic regions.

CRA International (NASDAQ: CRAI) announced an upcoming auction process for FirstEnergy Corp.'s (NYSE: FE) Ohio subsidiaries to procure full requirements service for Standard Service Offer customers. The auction, scheduled for January 21, 2025, will utilize a descending-price clock format and is approved by the Public Utilities Commission of Ohio.

An Information Session for prospective bidders will be held on December 3, 2024 via Zoom. The Part 1 Applications window opens on December 4, 2024, with submissions due by December 17, 2024. Successful applicants can begin Part 2 Applications from December 23, 2024.

JCP&L, a FirstEnergy Corp. (NYSE: FE) subsidiary, is undertaking a $12.5 million project to replace an underwater high-voltage power line serving New Jersey's barrier islands. The new 34.5-kilovolt line will be one of four power sources serving over 13,000 customers across multiple beach communities.

The project involves installing a 7,500-foot submarine cable using an environmentally friendly 12-ton sled that creates minimal disruption to aquatic life. The sled uses water jets at 150 PSI to create a trench one foot wide and over 10 feet deep. A barge will transport the cable equipment while pulling the sled at speeds up to 10 feet per minute. The project is expected to be completed by mid-December.