Potomac Edison Pilot Program to Help Maryland Schools Transition to Clean, Electric Buses

Potomac Edison (NYSE: FE) received Maryland Public Service Commission approval for an $11.1 million pilot to help local school systems adopt zero-emission electric buses.

Rhea-AI Summary

Potomac Edison (NYSE: FE) received Maryland Public Service Commission approval for an $11.1 million pilot to help local school systems adopt zero-emission electric buses. The program will fund up to 28 buses, cover the typical $250,000 cost differential per bus, provide charging infrastructure and test vehicle-to-grid (V2G) technology. The pilot launches early 2026, runs up to five years or until funds are exhausted, and targets Potomac Edison's Maryland service territory.

Positive

• $11.1M program budget to subsidize electric buses
• Covers ~$250,000 per-bus diesel-to-electric cost differential
• Incentives for up to 28 electric school buses
• Includes charging equipment and electrical upgrades
• V2G testing to explore grid reliability benefits

Negative

• Limited scale: program supports only up to 28 buses
• Funds may be exhausted before five-year term ends
• Geographic scope restricted to Potomac Edison’s Maryland territory

Argus Feb 4 session

-1.04% close to close Open Argus

Details

News Market Reaction – FE

On Feb 4, the day this news came out, FE closed 1.04% below the previous close.

Data tracked by StockTitan Argus for the Feb 4 session.

Key Figures

Bus cost gap: $250,000 Program size: $11.1 million Eligible buses: 28 buses +4 more

Bus cost gap

$250,000

Typical cost difference between diesel and electric school buses covered by program

Program size

$11.1 million

Total funding for Potomac Edison Maryland electric school bus pilot

Eligible buses

28 buses

Incentive cap for electric school buses in Potomac Edison Maryland territory

Program duration

5 years

Pilot runs five years or until funds are exhausted

Maryland customers

285,000

Customers served by Potomac Edison in Maryland counties

Total customers

6 million

Customers served across FirstEnergy’s six-state footprint

Transmission length

24,000 miles

Transmission lines operated by FirstEnergy’s subsidiaries

Historical Context

5 past events · Latest: Jan 30

5 events

1. Jan 30

   Customer bill credits

   24h Move

   +0.0%

   Maryland customers receiving tiered energy relief bill credits funded under state laws.

2. Jan 28

   Grid reliability project

   24h Move

   -0.2%

   Underground cable upgrade in McKean County as part of larger LTIIP III and Energize365 plans.

3. Jan 23

   Storm preparedness

   24h Move

   -1.0%

   Crews and systems prepared for winter storm across six-state territory with safety guidance.

4. Jan 13

   Earnings teleconference

   24h Move

   +1.9%

   Announcement of Q4 and full-year 2025 results release and webcast schedule in Feb 2026.

5. Jan 09

   Philanthropic grant

   24h Move

   -0.1%

   FirstEnergy Foundation’s $25,000 grant to Fill a Glass with Hope® for milk donations.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Key Terms

vehicle-to-grid (V2G), zero-emission vehicles

2 terms

vehicle-to-grid (V2G) technical

"Access to vehicle-to-grid (V2G) technology, allowing Potomac Edison to test how stored energy"

Vehicle-to-grid (V2G) is a technology that lets electric vehicles send stored battery power back to the electrical grid as well as draw power from it, turning each car into a small, reversible power source. For investors, V2G can create new revenue streams for vehicle owners and utilities, reduce peak power costs, and increase demand for compatible chargers and software—similar to how homeowners earn money by renting out spare space, it monetizes otherwise idle batteries.

zero-emission vehicles technical

"requires public school systems to purchase or contract only zero-emission vehicles moving forward"

Vehicles that produce no exhaust pollutants or carbon emissions while being driven, typically powered by batteries, hydrogen fuel cells, or other non-combustion systems; think of them like an electric kettle replacing a gas stove—no smoke or fumes coming out during use. They matter to investors because shifting consumer demand, government rules and incentives, fuel and maintenance cost differences, and evolving charging and supply chains can significantly affect automakers’ revenues, margins and long-term market value.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Company program will support school systems with funding and charging infrastructure and will test vehicle-to-grid (V2G) technology

WILLIAMSPORT, Md., Feb. 4, 2026 /PRNewswire/ -- Potomac Edison, a subsidiary of FirstEnergy Corp. (NYSE: FE), has been granted approval from the Maryland Public Service Commission to launch a pilot program that will help local school systems shift to cleaner, zero-emission school buses. The program is designed to make the move to electric buses easier and more affordable, bringing quieter rides for students, cleaner air for neighborhoods and long-term savings for school districts.

Supporting Maryland's Clean Transportation Goals  
Maryland's Climate Solutions Now Act of 2022 requires public school systems to purchase or contract only zero-emission vehicles moving forward. Potomac Edison's pilot program helps school districts meet this requirement by removing some of the biggest financial hurdles.  The company will cover the cost difference – typically about $250,000 – between diesel and electric buses along with the cost of charging equipment and the electrical upgrades needed for installation.

Jim Myers, FirstEnergy's President of West Virginia and Maryland: "Maryland's public schools are taking important steps toward cleaner, healthier transportation for students, and this program is designed to help make that transition more practical and affordable. We're reducing upfront costs and offering hands-on support to help school systems integrate electric buses smoothly. At the same time, we're exploring how these buses can support grid reliability through innovative technology – a promising opportunity that could benefit customers across the counties we serve."

Program Highlights
The $11.1 million program will launch in early 2026 and includes:

• Incentives for up to 28 electric school buses in Potomac Edison's Maryland service territory.
• Full technical and administrative support to help school systems identify charging locations, install necessary equipment and train personnel on vehicle operation and charging.
• Access to vehicle-to-grid (V2G) technology, allowing Potomac Edison to test how stored energy in bus batteries can flow back to the grid when buses aren't in use – potentially supporting grid reliability during emergencies.

The program will run for five years or until funds have been exhausted.

Potomac Edison serves about 285,000 customers in all or parts of Allegany, Carroll, Frederick, Garrett, Howard, Montgomery and Washington counties in Maryland. Follow Potomac Edison at www.potomacedison.com, on X @PotomacEdison, and on Facebook at facebook.com/PotomacEdison.

FirstEnergy is dedicated to integrity, safety, reliability and operational excellence. Its electric distribution companies form one of the nation's largest investor-owned electric systems, serving more than six million customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate approximately 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy online at www.firstenergycorp.com and on X @FirstEnergyCorp.

View original content to download multimedia:https://www.prnewswire.com/news-releases/potomac-edison-pilot-program-to-help-maryland-schools-transition-to-clean-electric-buses-302679138.html

SOURCE FirstEnergy Corp.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What is Potomac Edison (FE) announcing about electric school buses on Feb 4, 2026?

Potomac Edison is launching an $11.1 million pilot to subsidize electric school buses and infrastructure. According to the company, the pilot funds up to 28 buses, covers charging upgrades, and will test V2G technology over a five-year period or until funds run out.

How much will Potomac Edison (FE) cover per electric bus under the Maryland pilot?

The company will cover the typical $250,000 cost difference between diesel and electric buses. According to the company, the program also pays for charging equipment and required electrical upgrades to ease district adoption.

When does the Potomac Edison (FE) electric bus pilot start and how long will it run?

The pilot is set to begin in early 2026 and run for up to five years or until program funds are exhausted. According to the company, the timeline depends on funding deployment and district participation.

How many Maryland school buses will Potomac Edison (FE) incentivize under the pilot?

The program provides incentives for up to 28 electric school buses within Potomac Edison’s Maryland territory. According to the company, selection will focus on local school systems needing charging infrastructure and operational support.

Will Potomac Edison (FE) test vehicle-to-grid (V2G) technology in the pilot?

Yes. The pilot includes access to V2G technology to test battery energy flowing back to the grid when buses are idle. According to the company, V2G testing aims to evaluate potential grid reliability benefits during emergencies.

Which Maryland counties and customers does the Potomac Edison (FE) pilot target?

The pilot targets school systems within Potomac Edison’s Maryland service area serving about 285,000 customers. According to the company, that includes parts or all of Allegany, Carroll, Frederick, Garrett, Howard, Montgomery and Washington counties.