Potomac Edison Takes Next Step with Power Line Upgrades to Benefit Frederick and Montgomery County Customers

Rhea-AI Summary

Potomac Edison (NYSE: FE) filed for Maryland Public Service Commission review of the Gore-Doubs-Goose Creek Improvements Project, proposing 18 miles of transmission upgrades in Frederick and Montgomery counties using existing corridors.

If approved, construction would begin in 2028 with estimated completion in 2031; the full PJM-awarded project adds roughly 62 miles of new 500-kV lines across VA, WV and MD.

Positive

• 18 miles of Maryland transmission lines targeted for upgrade
• Project awarded by PJM in 2023, supporting regional grid needs
• Adds new 500-kV lines across approximately 62 miles

Negative

• Maryland PSC review pending for the CPCN, creating approval risk
• Construction not planned until 2028 with completion in 2031, a multi-year timeline

Key Figures

Transmission upgrade (MD): 18 miles Total line upgrades: 62 miles Line voltage: 500-kV +5 more

8 metrics

Transmission upgrade (MD) 18 miles Maryland portion of Gore-Doubs-Goose Creek Improvements Project

Total line upgrades 62 miles Project span across Virginia, West Virginia and Maryland

Line voltage 500-kV New transmission lines added along existing routes

Construction start 2028 Planned start date if CPCN is approved

Estimated completion 2031 Target completion for Maryland portion of project

Potomac Edison customers (MD) 285,000 Customers served in seven Maryland counties

Potomac Edison customers (WV) 155,000 Customers served in Eastern Panhandle of West Virginia

FirstEnergy transmission network 24,000 miles Approximate length of transmission lines operated

Market Reality Check

Price: $50.42 Vol: Volume 3,275,119 is at 0....

normal vol

$50.42 Last Close

Volume Volume 3,275,119 is at 0.73x the 20-day average of 4,493,475, suggesting no outsized trading response pre‑announcement. normal

Technical Shares at $50.42 are trading above the $45.30 200-day MA, and sit 3.58% below the $52.29 52-week high.

Peers on Argus

FE was up 0.78% while key regulated electric peers were mixed: EIX up 0.48%, but...

FE was up 0.78% while key regulated electric peers were mixed: EIX up 0.48%, but AEE, ES, PPL and WEC all modestly negative. With no peers in the momentum scanner and no same-day peer headlines, the move appears stock-specific rather than sector-driven.

Historical Context

5 past events · Latest: Mar 24 (Positive)

Pattern 5 events

Date	Event	Sentiment	Move	Catalyst
Mar 24	Bill assistance options	Positive	+0.8%	Mon Power and Potomac Edison expanded bill assistance for eligible customers.
Mar 24	Bill aid programs	Positive	+0.8%	Pennsylvania customers informed of multiple programs to manage seasonal bills.
Mar 24	Maryland bill support	Positive	+0.8%	Potomac Edison highlighted Maryland energy cost assistance and arrearage relief.
Mar 24	Ohio bill assistance	Positive	+0.8%	Ohio customers directed to PIPP Plus, HEAP and other bill-support programs.
Mar 20	NJ assistance event	Positive	-2.3%	JCP&L promoted year-round assistance and an April 22 customer event.

Pattern Detected

Recent customer-focused announcements have generally seen small positive price reactions, with one notable negative divergence.

Recent Company History

Over the last weeks, FE’s news flow centered on customer bill-assistance programs across multiple territories, including Potomac Edison in Maryland and Mon Power, JCP&L and Ohio utilities. These updates on affordability and support tools saw mostly modest positive reactions around +0.8%, except one -2.31% move. Today’s grid-upgrade filing continues the theme of customer reliability and service quality improvements across FE’s footprint.

Market Pulse Summary

This announcement details FE’s next regulatory step for the Gore-Doubs-Goose Creek transmission upgr...

Analysis

This announcement details FE’s next regulatory step for the Gore-Doubs-Goose Creek transmission upgrades, including 18 miles of Maryland lines within a 62-mile PJM-awarded project. It reinforces a focus on reliability and future demand across Potomac Edison’s 285,000 Maryland and 155,000 West Virginia customers. Historically, customer- and service-oriented news produced modest price moves, so investors may watch regulatory milestones, construction timing into 2028–2031, and execution across FE’s 24,000-mile transmission network.

Key Terms

maryland public service commission, psc, certificate of public convenience and necessity, cpcn, +2 more

6 terms

maryland public service commission regulatory

"seeking approval from the Maryland Public Service Commission (PSC) to move forward"

A state regulatory agency that oversees public utilities such as electricity, natural gas, water, and certain transportation and telecom services in Maryland. It reviews and approves rates, service rules, and major infrastructure projects, acting like a referee who balances customer protection, service reliability, and utility finances. Investors watch its decisions because they directly affect a utility’s revenue, allowed returns, project timelines and the predictability of future cash flows.

psc regulatory

"Maryland Public Service Commission (PSC) to move forward with a transmission project"

Persons with Significant Control (PSC) are the people or organizations that ultimately own or control a company—through large shareholdings, decisive voting rights, or other levers of influence—and whose identities are reported for ownership transparency. For investors, PSC information is like seeing who holds the company’s keys: it reveals who can shape strategy, influence board decisions or dividends, and signals governance risks, potential conflicts of interest, and takeover likelihood.

certificate of public convenience and necessity regulatory

"review of Potomac Edison's Certificate of Public Convenience and Necessity (CPCN) application"

A certificate of public convenience and necessity is a government-issued permit authorizing a company to build or operate a service or infrastructure that serves the public, such as energy pipelines, utilities, or transport routes. Think of it like a special permit showing a business can legally provide an essential service and that the service is needed; investors care because the certificate affects whether a project can proceed, its timeline, potential revenues, and regulatory oversight.

cpcn regulatory

"Potomac Edison's Certificate of Public Convenience and Necessity (CPCN) application"

A Certificate of Public Convenience and Necessity (CPCN) is an official permit from a government regulator that authorizes a company to build or operate major public infrastructure or utility services, such as power lines, pipelines, or transit projects. For investors, a CPCN matters because it clears a major legal and planning hurdle — like a building permit for a large project — and affects whether the project can proceed, how long it will take, and the likelihood of earning the expected returns.

pjm interconnection technical

"Awarded in 2023 by PJM Interconnection, the regional organization that operates the electric grid"

A regional grid operator and wholesale electricity market that coordinates the flow of power across a multi-state area, matching supply and demand and managing transmission lines much like an air-traffic controller routes planes. It matters to investors because its decisions and market prices influence revenue and costs for utilities, power producers, and large energy users, affect reliability and investment in generation and transmission, and are shaped by regulatory and policy changes that can alter company profitability.

transmission lines technical

"would upgrade approximately 62 miles of transmission lines in Virginia, West Virginia and Maryland"

High-voltage towers and cables that carry electricity from power plants to cities and substations, like highways that move energy rather than cars. For investors, transmission lines are long-lived, capital-intensive assets whose condition, capacity and regulatory treatment affect utility revenues, reliability and the ability to connect new generation; bottlenecks or upgrades can change costs, permit timelines and future returns.

AI-generated analysis. Not financial advice.

Maryland PSC to review project that improves reliability using existing power line corridors

WILLIAMSPORT, Md., March 31, 2026 /PRNewswire/ -- Potomac Edison, a subsidiary of FirstEnergy Corp. (NYSE: FE), is seeking approval from the Maryland Public Service Commission (PSC) to move forward with a transmission project that will make the power grid more reliable for area residents and businesses and support future economic growth.

The Maryland portion of the Gore-Doubs-Goose Creek Improvements Project will upgrade 18 miles of Potomac Edison's transmission lines in Frederick and Montgomery counties and utilize existing power line routes to minimize effects on the environment and nearby communities. The project also has portions that span parts of Virginia and West Virgina.

The PSC will begin a review of Potomac Edison's Certificate of Public Convenience and Necessity (CPCN) application, a permit that confirms the project is needed and meets requirements for safety, reliability and fair cost. To learn more about the process, please visit the PSC's CPCN guide.

If the application is approved, construction is planned to start in 2028, with an estimated completion date of 2031. Applications for the Virginia and West Virginia portions of the project are expected to be filed later this year.

Mark Mroczynski, President, Transmission at FirstEnergy: "This project is about making sure families and businesses have reliable power when they need it most. By strengthening and upgrading lines that are already in place, we can improve reliability and address growing electricity use while minimizing impacts to the communities we serve."

Project Awarded by PJM to Support Grid
Awarded in 2023 by PJM Interconnection, the regional organization that operates the electric grid, the Gore-Doubs-Goose Creek Improvements Project would upgrade approximately 62 miles of transmission lines in Virginia, West Virginia and Maryland, adding new 500-kV lines to existing power line routes. That's like adding extra lanes to an existing highway – more electricity can move at once, especially during high demand periods such as extreme heat or cold.

The proposed upgrades will:

• Help electricity travel cost-efficiently and quickly to neighborhoods and communities
• Enhance grid reliability for all customers
• Help meet increasing electricity use
• Make it easier to connect new electricity sources, including renewable energy

For more information about the Maryland portion of the Gore-Doubs-Goose Creek Improvements Project, please visit the Maryland project website. Additional information about the Virginia and West Virginia portions of the project can be found at FirstEnergy's transmission projects site.

Potomac Edison serves about 285,000 customers in seven counties in Maryland and about 155,000 customers in the Eastern Panhandle of West Virginia. 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 firstenergycorp.com and on X @FirstEnergyCorp.

View original content to download multimedia:https://www.prnewswire.com/news-releases/potomac-edison-takes-next-step-with-power-line-upgrades-to-benefit-frederick-and-montgomery-county-customers-302730314.html

SOURCE FirstEnergy Corp.

FAQ

What did Potomac Edison (FE) file with the Maryland PSC on March 31, 2026?

They filed a Certificate of Public Convenience and Necessity application to upgrade 18 miles of transmission lines in Frederick and Montgomery counties. According to the company, the filing begins regulatory review required before construction can start.

When would work on the Gore-Doubs-Goose Creek Improvements Project in Maryland start and finish?

If approved, construction is planned to start in 2028 with an estimated completion in 2031. According to the company, those dates apply to the Maryland portion and are subject to permitting and approvals.

How much of the overall PJM-awarded project is in Maryland vs. total miles?

The Maryland portion would upgrade 18 miles, while the full PJM-awarded project covers about 62 miles across VA, WV and MD. According to the company, upgrades add new 500-kV lines along existing corridors.

What reliability benefits does Potomac Edison (FE) say the upgrades will deliver?

The upgrades are intended to enhance grid reliability, move electricity more efficiently, and support growing demand. According to the company, using existing corridors minimizes environmental and community impacts.

What regulatory steps remain before Potomac Edison's Maryland upgrades can proceed?

The Maryland PSC must review and grant the CPCN showing the project is needed and meets safety, reliability and cost standards. According to the company, the application starts that PSC review process.