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.
Ohio Edison, a subsidiary of FirstEnergy Corp. (NYSE: FE), is initiating tree trimming and vegetation management across its 34-county service area in Ohio. This $22.5 million program aims to enhance service reliability by maintaining clearances around electrical equipment, reducing power outages, especially during adverse weather. Since early 2020, contractors have been working on nearly 5,000 circuit miles of electric lines, with completion expected by year-end. The program is crucial as it supports the increased demand for stable power during the COVID-19 health crisis.
Mon Power, a subsidiary of FirstEnergy Corp (NYSE: FE), is enhancing service reliability through ongoing tree trimming across West Virginia. As part of a $68 million vegetation management program, the company has trimmed over 2,900 miles of power lines and plans to complete an additional 2,700 miles by year-end. The program includes removing over 25,000 ash trees affected by the Emerald Ash Borer, with nearly 10,000 already removed. Mon Power prioritizes safety and efficient power service for its 385,000 customers across 34 counties.
Pennsylvania Electric Company (Penelec), a subsidiary of FirstEnergy Corp. (NYSE: FE), is advancing its tree trimming initiatives to improve electric service reliability. The 2020 vegetation management program is budgeted at $37.4 million, with plans to trim over 4,300 miles of power lines. This program includes removing dead ash trees due to the Emerald Ash Borer. As of now, contractors have addressed 2,000 miles of lines, aiming for completion by year-end. The effort has reportedly reduced tree-related outages, contributing positively to customer service.
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