FirstEnergy Power Upgrades Will Support Manufacturing and Boost Economic Growth in Fulton County, Ohio

Rhea-AI Summary

FirstEnergy Corp. (NYSE: FE) announced significant investments to enhance its Toledo Edison electric system, facilitating a $700 million expansion at North Star BlueScope Steel. Recent upgrades include $2.5 million for a substation in Delta to improve high-voltage electricity flow. Planned improvements also feature a $67 million transmission substation and a new 8.5-mile power line, projected to support over 10,000 customers. FirstEnergy has invested over $5 billion in infrastructure, emphasizing its role in regional economic growth, attracting 30,000 jobs and $17.5 billion in investments over five years.

Positive

• Investment of $700 million for North Star BlueScope Steel expansion.
• Recent $2.5 million substation upgrade improves service reliability.
• Proposed $67 million transmission substation to strengthen infrastructure.
• Expected to benefit over 10,000 customers in the region.
• FirstEnergy has invested over $5 billion in system upgrades.
• Attracted 30,000 jobs and $17.5 billion in capital investment over five years.

Negative

• None.

TOLEDO, Ohio, May 11, 2021 /PRNewswire/ -- FirstEnergy Corp. (NYSE: FE) continues investing in upgrades to its Toledo Edison electric system to support a $700 million expansion at North Star BlueScope Steel and to meet the projected energy needs of other industrial facilities in the area.

FirstEnergy recently invested nearly $2.5 million to upgrade equipment at the substation that delivers electricity to North Star BlueScope Steel in Delta. The upgrades include installation of two mega-voltage capacitor banks – equipment that will help ensure a constant, safe flow of high-voltage electricity into the facility, especially during periods of high demand.

FirstEnergy and Toledo Edison continue to play a key role in the region's development by working to ensure the local power grid is ready to support the demands of North Star BlueScope Steel and other energy-intensive customers in the region, like Metal X, Nature Fresh Farms and Nova Steel.

"This is an exciting time for economic development in our region because more and more large companies are realizing what a great place northwest Ohio is to start or expand their business," said Hans Rosebrock, economic development advisor of FirstEnergy's northwest Ohio service area. "We're proud to support work to help advance business development in the region while strengthening our system to meet the growing demand for safe and reliable power for many years to come."

The company also is in the planning stage of a $67 million transmission substation and high-voltage power line to support the future energy demands of the area's rapidly expanding manufacturing industry. In addition to supporting North Star BlueScope Steel, the proposed facilities will strengthen the regional transmission system and benefit more than 10,000 Toledo Edison customers in Delta and neighboring communities.

The proposal includes constructing an 8.5-mile, high-voltage power line to connect the new substation to an existing 345-kV line located nearby. Such ties offer a backup power feed that will help keep the lights on for customers if wires or equipment on their regular line are damaged or need to be taken out of service. Once approved, the project is expected to begin in late 2023.

To help drive economic growth and development, FirstEnergy has invested more than $5 billion in new equipment and technology along a five-state transmission system, one of the largest in the nation. The upgrades include built-in redundancies, like automated technology and backup power lines, to keep electricity flowing to customers, as well as diagnostic equipment that detects problems early.

In recognition of its efforts, FirstEnergy was named by Site Selection magazine in 2020 as a "Top 20" utility for expertise in promoting economic development. Over the past five years, FirstEnergy has helped attract more than 30,000 new jobs and $17.5 billion in third-party capital investment in its six-state service area. In Ohio alone, FirstEnergy helped attract nearly 7,700 jobs and $2.6 billion in third-party capital investment in 2020.

"The investments FirstEnergy has made and continues making to its robust power system have played a key role in the economic growth across the Toledo area and the company's entire six-state footprint," said Rosebrock.

For more information about FirstEnergy's economic development efforts, visit www.fe-economic-development.com.

Toledo Edison serves nearly 315,000 customers in northwest Ohio. Follow Toledo Edison on Twitter @ToledoEdison or on Facebook at www.facebook.com/ToledoEdison.

FirstEnergy is dedicated to integrity, safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving 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 Twitter @FirstEnergyCorp.

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SOURCE FirstEnergy Corp.

FAQ

What is FirstEnergy's recent investment in Toledo Edison?

FirstEnergy announced a $700 million investment to support the expansion of North Star BlueScope Steel, along with additional upgrades to its electric system.

How much did FirstEnergy invest in the substation upgrades for North Star BlueScope Steel?

FirstEnergy invested nearly $2.5 million to upgrade the substation serving North Star BlueScope Steel.

What is the planned investment for the new transmission substation by FirstEnergy?

FirstEnergy plans to invest $67 million in a new transmission substation and high-voltage power line.

How many customers will benefit from FirstEnergy's new projects in Toledo?

The new projects are expected to benefit over 10,000 Toledo Edison customers.

What economic impacts has FirstEnergy's investments had in the region?

FirstEnergy's investments have led to the attraction of 30,000 jobs and $17.5 billion in third-party capital investment over the last five years.