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 (NYSE: FE) delivers essential electricity services to 6 million customers across six Mid-Atlantic and Midwestern states through its regulated transmission and distribution operations. This news hub provides investors and stakeholders with authoritative coverage of FE's operational developments, financial disclosures, and strategic initiatives.
Access timely updates on earnings reports, grid modernization projects, regulatory filings, and leadership announcements. Our curated collection features official press releases alongside third-party analysis of FE's infrastructure investments, rate case proceedings, and reliability enhancement programs.
Key coverage areas include capital expenditure plans, dividend declarations, storm response updates, and compliance milestones. Bookmark this page for centralized access to FE's latest operational statistics, environmental initiatives, and financial performance metrics - all critical for informed energy sector analysis.
FirstEnergy held its 2024 Annual Meeting on May 22, 2024. CEO Brian X. Tierney emphasized the company's progress and resilience, highlighting their $26 billion grid modernization plan, Energize365. The company aims to become a premier electric company by focusing on investing, operating, recovering costs, and financing. Notable achievements include improvements to their balance sheet, increased dividends, and upgrades to investment-grade credit ratings. Preliminary voting results showed the reelection of 10 directors and the ratification of PricewaterhouseCoopers LLP as the independent auditor for 2024. However, three shareholder proposals related to climate metrics and compensation policies were not approved.
FirstEnergy Corp. (NYSE: FE) has appointed four new executives to oversee its Ohio, Pennsylvania, and New Jersey state electric companies and its transmission business. Effective in June 2024, the appointees are John Hawkins for Pennsylvania, Torrence Hinton for Ohio, Doug Mokoid for New Jersey, and Mark Mroczynski for Transmission. This restructuring aims to improve customer investments and operational efficiency at the local level. Additionally, Jim Fakult, President of New Jersey Operations, will retire after 37 years of service. The company is finalizing the appointment for its combined West Virginia/Maryland division.
FirstEnergy's subsidiary, American Transmission Systems, completed a $5 million upgrade to a 22-mile transmission line in Mahoning and Columbiana counties, Ohio. Approximately 250 new horizontal post insulators were installed, replacing crossarms and some poles. This project aims to enhance grid reliability and prevent outages for about 1,500 Ohio Edison customers. The work started in August 2022 and concluded in March 2024. This is part of the Energize365 program, which plans $26 billion in grid investments from 2024 to 2028 to enhance reliability and support future energy demands.
FirstEnergy Pennsylvania Electric Company (FE PA), a subsidiary of FirstEnergy Corp. (NYSE: FE), recently held its annual storm restoration drill to test its storm response processes. The drill, conducted both remotely and in-person, aimed to prepare employees for severe weather events, focusing on scenarios involving strong thunderstorms with wind gusts exceeding 70 mph. Participants tackled simulated challenges such as widespread power outages affecting over 400,000 customers and significant damage to substations and communication lines. The exercise utilized the Incident Command System (ICS) to coordinate efficient response efforts. Met-Ed, operating in eastern Pennsylvania, serves 592,000 customers and emphasizes service reliability through initiatives like tree trimming and infrastructure hardening.
FirstEnergy (NYSE: FE) emphasizes the importance of electrical safety as summer begins, coinciding with National Electrical Safety Month. The company warns against the hazards of foil balloons, drones, and fireworks near power lines.
Foil balloons caused over 35 power outages in recent months across FirstEnergy's service area. The company advises securing these balloons to prevent disruptions and urges customers to leave fireworks displays to professionals. Additional tips include flying kites and drones away from power lines, and ensuring electrical devices are dry and kept away from water sources.
FirstEnergy's
FirstEnergy Corp. (NYSE: FE) has appointed Deandra Williams-Lewis as Chief Privacy Officer, effective May 19, while she continues her role as Director of Ethics & Compliance. Williams-Lewis will manage sensitive customer and employee information and oversee ethics and compliance risks. She will report to Antonio Fernández, VP & Chief Ethics & Compliance Officer. Williams-Lewis joined FirstEnergy in 2021 and has previously worked at ReliabilityFirst, GE Lighting, KPMG, and others. FirstEnergy serves over 6 million customers in several states and operates a vast network of transmission lines.
Ohio Edison, a subsidiary of FirstEnergy Corp., has initiated a $26 million tree-trimming program aimed at enhancing electric service reliability across northeast and northcentral Ohio. This initiative seeks to prevent power outages caused by trees, especially during severe spring and summer storms. Since the start of the year, contractors have trimmed trees along 600 miles of power lines, with an additional 4,200 miles planned for completion by year-end. The program includes vegetation inspections and tree removals to maintain safe clearances. This annual effort involves certified forestry experts and uses advanced techniques like aerial saws for hard-to-access areas. The initiative spans several Ohio counties and aims to serve over 1 million customers more reliably.
Toledo Edison, a FirstEnergy Corp. subsidiary, is investing $7 million in tree trimming and vegetation management across northwest Ohio to enhance electric service reliability and prevent power outages during severe weather. The initiative includes trimming along 1,850 miles of power lines by year-end, following 100 miles already completed. The work spans multiple counties including Defiance, Fulton, Henry, Lucas, and Sandusky. Helicopters with aerial saws are used for hard-to-access areas. This project is part of an ongoing annual effort to maintain power systems and involves collaboration with municipalities and certified forestry experts.
The Illuminating Company, a FirstEnergy subsidiary, is investing $19.7 million in tree trimming and vegetation management across northeast Ohio. This initiative aims to enhance electric service reliability and prevent outages during severe weather. So far, 100 miles of power lines have been serviced, with a goal of 1,750 miles by year-end. This annual activity, featuring ground and aerial trimming, is important for maintaining clearances around power lines. The company serves over 750,000 customers in various counties, ensuring safety and reliability in electric service.
FirstEnergy Corp.'s subsidiary Potomac Edison is investing $14.7 million in tree trimming and vegetation management in Maryland.
The initiative aims to enhance power service reliability by preventing tree-related outages during severe weather. Since the beginning of the year, contractors have trimmed trees along 300 miles of power lines, with a goal to cover an additional 1,800 miles by year-end.
This program involves notifying municipalities and residents before work begins. Potomac Edison serves about 285,000 customers in Maryland.
