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FirstEnergy Corp. - FE STOCK NEWS

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) is a leading investor-owned utility headquartered in Akron, Ohio. The company operates through its 10 regulated distribution utilities, serving over six million customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland, and New York. FirstEnergy's vast transmission network spans more than 24,000 miles, connecting the Midwest and Mid-Atlantic regions, making it one of the largest electric systems in the nation.

Committed to operational excellence, safety, and reliability, FirstEnergy is actively engaged in various projects that enhance the quality of life for its customers and communities. The company has an impressive portfolio of ongoing initiatives aimed at fostering environmental sustainability. For instance, FirstEnergy has pledged to plant over 25,000 trees in 2024 as part of its environmental responsibility efforts, which have already seen over 67,000 trees planted since 2021.

Financial performance remains strong. FirstEnergy reported first-quarter 2024 GAAP earnings of $253 million on revenue of $3.3 billion. The company continues to maintain a healthy balance sheet and aims for a long-term annual operating earnings growth rate of 6% to 8%, supported by its $26 billion five-year capital investment plan, Energize365.

The company's latest projects include aerial inspections of nearly 7,000 miles of transmission lines using advanced infrared technology to ensure the safety and reliability of its network. Additionally, FirstEnergy's Toledo Edison has embarked on a $342,000 LED streetlight conversion project in Sylvania, Ohio, expected to save the city $77,000 annually in energy costs.

FirstEnergy also focuses on improving infrastructure in rural areas. Mon Power, a subsidiary, has been selected to receive up to $5 million in federal funding to upgrade power lines in West Virginia, enhancing reliability for thousands of customers.

In leadership news, Nikhil Rao has been promoted to Associate General Counsel, emphasizing the company's focus on robust legal and regulatory compliance. Rao brings extensive experience in litigation and labor law, reinforcing FirstEnergy's commitment to integrity and operational excellence.

For those interested in career opportunities, FirstEnergy actively engages with potential employees through its FirstEnergy Careers Facebook community, sharing job postings and career tips.

Overall, FirstEnergy Corp. continues to lead with a steadfast commitment to making lives brighter, the environment better, and communities stronger.

News

Pre-Winter Inspections and Maintenance Support Safe and Reliable Power for West Virginia Electric Customers

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FirstEnergy Corp. (FE) subsidiaries Mon Power and Potomac Edison have completed inspections and maintenance to ensure reliable power delivery to West Virginia customers this winter.
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Pre-Winter Inspections and Maintenance Support Safe and Reliable Power for Potomac Edison's Maryland Customers

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FirstEnergy Corp. (NYSE: FE) subsidiary Potomac Edison has completed inspections and maintenance to ensure safe, reliable delivery of power to customers in its Maryland service area this winter. The company utilized infrared technology to identify potential equipment issues and prevent power outages. In addition, tree trimming and vehicle inspections were conducted to meet the rigors of winter operations. Cold weather tips for customers were also provided to help manage electricity bills during the cold season.
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Pre-Winter Inspections and Maintenance Support Safe and Reliable Power for FirstEnergy's Pennsylvania Customers

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FirstEnergy Corp. (NYSE: FE) is preparing its Pennsylvania utilities - Met-Ed, Penelec, Penn Power, and West Penn Power - for the winter season to ensure safe and comfortable power delivery to customers. President Scott Wyman emphasizes proactive measures to safeguard power infrastructure and respond to winter challenges, including equipment inspections, maintenance, thermovision camera inspections, winterizing control buildings, helicopter inspections of transmission lines, and tree trimming.
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FirstEnergy Subsidiaries Awarded Nearly $800 Million in Transmission Upgrades

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FirstEnergy Corp. (NYSE: FE) subsidiaries, Potomac Edison and Mid-Atlantic Interstate Transmission (MAIT), have been awarded three transmission projects totaling nearly $800 million in Maryland, Pennsylvania, Virginia, and West Virginia by PJM Interconnection. The projects aim to enhance reliability, accommodate growing demand for electricity, and connect new energy resources like wind and solar.
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Pre-Winter Inspections and Maintenance Support Safe and Reliable Power for JCP&L Customers

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Jersey Central Power & Light (JCP&L) of FirstEnergy Corp. (NYSE: FE) has completed proactive work to prepare the electric grid in its 3,200-square-mile service area for the winter months. The company aims to ensure reliable electric service during the increased demand brought on by colder temperatures and heavy snow, ice, and winds. Winter preparations include preventive maintenance, inspections, and infrastructure maintenance, along with cold weather tips for customers.
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FirstEnergy's Pennsylvania Subsidiaries Receive Approval to Consolidate into Single Operating Company

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FirstEnergy Corp. (NYSE: FE) receives approval from the Pennsylvania Public Utility Commission to consolidate its electric distribution subsidiaries, expected to produce cost savings for customers.
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FirstEnergy Fuels Student Success with $100,000 Donation to Garfield High School in Akron

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FirstEnergy Corp. (NYSE: FE) donates $100,000 to support Akron Public Schools' Power Charge Program, incentivizing good behavior and decision making at Garfield High School. The program integrates financial literacy and aims to enhance students' personal development both in and outside of the classroom.
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JCP&L Proposes Expansion of Energy Efficiency Offerings

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FirstEnergy Corp. (NYSE: FE) subsidiary Jersey Central Power and Light (JCP&L) has filed for a $964.2 million expansion of its energy efficiency programs with the New Jersey Board of Public Utilities (BPU). The two-and-a-half-year portfolio of programs aims to achieve the electricity savings required by the New Jersey Clean Energy Act of 2018. The proposal includes both the continuation of existing programs and the introduction of new programs, targeting residential, small business, commercial, and multifamily customers. If approved, the typical JCP&L residential customer could expect to see a 4.2% increase in their monthly electric bill by July 2026.
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Mon Power and Potomac Edison Reach Settlement Agreements for Tree-Trimming and Fuel Costs

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FirstEnergy Corp. (FE) subsidiaries, Mon Power and Potomac Edison, have filed settlement agreements with the West Virginia Public Service Commission to resolve rate proceedings. The agreements aim to support system reliability while minimizing customer bill impacts. The settlements include updates to vegetation management costs and adjustments to the Expanded Net Energy Cost (ENEC) rate, which may lead to a $2.47 and $3.77 increase in the monthly bill for an average residential customer. Despite these increases, the companies emphasize their commitment to delivering safe, reliable, and affordable power.
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Tips to Avoid Utility Scams During the Winter Holiday Season

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FirstEnergy Corp. (NYSE: FE) is providing customers with scam awareness information to prevent them from falling victim to scammers during the holiday and winter seasons. Michelle Henry, senior vice president of Customer Experience, emphasizes the increased scam activity during colder months due to customers' reliance on electricity for safety and warmth. The company has received over 1,000 scam reports in 2023, indicating the growing threat of utility scammers.
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FAQ

What is the current stock price of FirstEnergy (FE)?

The current stock price of FirstEnergy (FE) is $41.79 as of November 22, 2024.

What is the market cap of FirstEnergy (FE)?

The market cap of FirstEnergy (FE) is approximately 24.3B.

What states does FirstEnergy serve?

FirstEnergy serves customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland, and New York.

How many customers does FirstEnergy have?

FirstEnergy serves over six million customers.

What is FirstEnergy's commitment to environmental sustainability?

FirstEnergy has pledged to plant over 25,000 trees in 2024 and has already planted over 67,000 trees since 2021.

What are FirstEnergy's latest financial results?

For the first quarter of 2024, FirstEnergy reported GAAP earnings of $253 million on revenue of $3.3 billion.

What is the Energize365 plan?

Energize365 is FirstEnergy's $26 billion five-year capital investment plan focused on enhancing reliability and the customer experience.

How is FirstEnergy improving infrastructure in rural areas?

Mon Power, a FirstEnergy subsidiary, has received up to $5 million in federal funding to upgrade power lines in rural West Virginia.

What recent project has Toledo Edison undertaken?

Toledo Edison has started a $342,000 LED streetlight conversion project in Sylvania, Ohio.

Who is the new Associate General Counsel of FirstEnergy?

Nikhil Rao has been promoted to Associate General Counsel, overseeing litigation, claims, employment, and labor law issues.

How does FirstEnergy ensure the safety of its transmission lines?

FirstEnergy uses helicopters equipped with infrared technology for aerial inspections of its transmission lines.

Where can I find FirstEnergy's job postings and career tips?

You can find job postings and career tips on the FirstEnergy Careers Facebook community.

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FirstEnergy Corp.

NYSE:FE

FE Rankings

#482 Ranked by Market Cap
#716 Ranked by Dividends

FE Stock Data

24.28B
575.60M
0.12%
89.57%
1.79%
Utilities - Regulated Electric
Electric Services
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United States of America
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