FirstEnergy Corp. - FE STOCK NEWS

FirstEnergy Corp. (NYSE: FE) has announced that President and CEO Brian X. Tierney will assume the additional role of Chair of the Board, effective January 1, 2025. Current Chair John W. Somerhalder II will remain as a director, while Lisa Winston Hicks continues as Lead Independent Director. The Board unanimously elected Tierney, who has served as President and CEO since June 1, 2023, citing the company's progress in financial, operational, and cultural transformation.

The Board believes combining the CEO and Chair roles will strengthen the company's position as it implements its Energize365 capital investment program to deliver more secure and reliable energy. The company aims to create shareholder value through financial commitments, continuous improvement, and investment across regulated electric companies.

FirstEnergy Corp. (NYSE: FE) has announced its Board of Directors' declaration of a quarterly dividend of $0.425 per share on outstanding common stock. The dividend remains unchanged and will be payable on March 1, 2025, to shareholders of record as of February 7, 2025. FirstEnergy operates one of the nation's largest investor-owned electric systems, serving over six million customers across six states through its electric distribution companies. The company's transmission subsidiaries manage approximately 24,000 miles of transmission lines connecting the Midwest and Mid-Atlantic regions.

FirstEnergy (NYSE: FE) has issued safety guidelines for holiday gifts, particularly focusing on drone operation during National Safe Toys and Gifts Month. The company emphasizes the importance of proper drone usage, highlighting risks associated with flying near power lines and electrical equipment. FirstEnergy has developed 'Drone Safety Zone,' a free online game teaching drone safety rules.

Key safety recommendations include maintaining a 200-foot distance from power lines, flying below 400 feet altitude, and proper FAA registration. The company also provides general electrical safety tips for holiday gifts, including proper battery handling, cord safety, and outlet management.

The FirstEnergy Foundation has awarded $60,000 in 'Gifts of the Season' grants to four Ohio nonprofits serving vulnerable populations. The recipients include Project Woman ($10,000), D.R. Services, Inc. ($10,000), Catholic Charities ($20,000), and Sofia Quintero Arts & Cultural Center ($20,000). These organizations were selected for their work in supporting domestic violence survivors, people with disabilities, Hispanic communities, and cultural programs respectively.

The initiative, established in 2016, has distributed approximately $1.1 million to nonprofits that align with FirstEnergy's diversity, equity, and inclusion values. To qualify, organizations must be first-time grant recipients and either be or serve diverse categories including veteran-owned, disability-owned, minority-owned, LGBTQ-owned, or woman-owned enterprises.

The Merrill Creek Reservoir (MCR), a 2,700-acre facility partly owned by FirstEnergy's subsidiaries, has won the 2024 Governor's Environmental Excellence Award from New Jersey's DEP in the 'Healthy Ecosystems and Habitats' category. The recognition highlights successful conservation efforts across 173 acres, including:

- 75 acres of forest stand and habitat improvements
- 98 acres of native grassland management
- 1 acre of pollinator gardens
- Creation of 78 underwater spider blocks and 17 fish cribs

The 2,727-acre property, located in Washington Township, Warren County, features a 650-acre reservoir and 290-acre environmental preserve. It's home to over 380 species of wildlife, including endangered species. The project demonstrates innovative environmental practices, such as repurposing invasive autumn olive for aquatic habitats instead of using plastic materials.

FirstEnergy Corp. (NYSE: FE) has announced key executive appointments as part of its new business structure aimed at bringing decision-making closer to customers. James H. Myers III has been appointed President of West Virginia and Maryland operations, effective December 15, overseeing operational excellence, financial performance, and regulatory strategy for Mon Power and Potomac Edison electric companies.

Additionally, Sally Thomas has been named Vice President of Distribution Engineering and Planning (effective January 12), and Joe Storsin appointed as Vice President of Transmission Finance (effective December 15). The restructuring aims to improve local execution and customer investment across FirstEnergy's service areas, which include over 6 million customers across six states and approximately 24,000 miles of transmission lines.

FirstEnergy Pennsylvania Electric Company (FE PA) is completing pre-winter equipment inspections and maintenance to ensure reliable power delivery during the cold season. The company is implementing several key measures including:

- Thermovision camera inspections of substation components to detect potential issues
- Helicopter inspections of over 5,500 miles of transmission lines
- Tree trimming along 9,900 miles of power lines
- Winterization of control buildings and climate-control systems
- Vehicle and equipment winterization checks

The company serves approximately 2.1 million customers across Pennsylvania through its subsidiaries Met-Ed, Penelec, Penn Power, and West Penn Power. FirstEnergy is also providing customers with tips to manage their seasonal heating bills through proper home insulation and maintenance.

FirstEnergy Corp. (NYSE: FE) has completed winter preparations across its Ohio electric companies to ensure system reliability during cold weather. The company has conducted comprehensive inspections including substation equipment checks, helicopter surveillance of transmission lines, and thermovision camera inspections of power lines and transformers.

Key maintenance activities include winterizing substation control buildings, tree trimming to prevent outages, and vehicle inspections focusing on tires and air braking systems. The company has also implemented an Advanced Vegetation Analytics Tool and conducted storm readiness exercises.

FirstEnergy serves over 2 million customers through Ohio Edison, The Illuminating Company, and Toledo Edison across Ohio. The company has provided customers with tips for managing seasonal heating bills, including proper insulation and maintenance recommendations.

FirstEnergy Corp. (NYSE: FE) has achieved a milestone of planting 100,000 donated trees since launching its tree planting program in 2020. The company has significantly exceeded its 2024 goal of 25,000 trees, with nearly 34,000 trees planted this year alone. The program, led by FirstEnergy's Green Teams, has grown from 1,000 trees in 2020 to over 101,000 trees planted at nearly 300 different events.

In 2024, about 650 Green Team members volunteered over 3,000 hours at nearly 150 events across six states, with notable achievements in Ohio (10,000+ trees), Pennsylvania (9,000+ trees), and West Virginia (6,700+ trees). More than half of the planting events were conducted in underserved areas, focusing on communities with specific socioeconomic and environmental challenges.