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.
FirstEnergy Corp's Potomac Edison encourages customers facing financial challenges to enroll in payment plans and bill assistance programs. Due to the pandemic, disconnections for nonpayment are momentarily suspended, allowing customers to manage their balances better. Assistance programs include the Community Energy Fund, Maryland Energy Assistance Program, and Utility Service Protection Program, aimed at helping low-income customers with overdue bills. Potomac Edison serves 270,000 customers in Maryland and 137,000 in West Virginia, dedicating resources to assist both residential and commercial clients.
FirstEnergy Corp (NYSE: FE) urges its Ohio customers facing financial difficulties to enroll in available payment plans and bill assistance programs amid the ongoing pandemic. While disconnections for nonpayment are temporarily halted, establishing a manageable payment arrangement is essential. Programs available include the Percentage of Income Payment Plan, Ohio Fuel Fund, Home Energy Assistance Program, and Emergency Hardship Funds. Customers can contact their respective utility companies for assistance and program details, ensuring they do not face overwhelming bills once shutoff protections are lifted.
On August 17, 2020, Jersey Central Power and Light (JCP&L), a subsidiary of FirstEnergy Corp (NYSE: FE), urged customers facing financial difficulties to enroll in payment plans and bill assistance programs amid the pandemic. Temporary shut-off suspensions highlight the importance of manageable payment arrangements to prevent overwhelming future bills. Assistance options include the Universal Service Fund Programs, Low Income Energy Assistance Program, Lifeline, and others, designed to aid low- to moderate-income customers. JCP&L serves 1.1 million customers across New Jersey.
FirstEnergy Corp. informs Mon Power and Potomac Edison customers in West Virginia about available payment plans and bill assistance programs to manage their utility costs during the pandemic. With shutoffs paused, customers should reach out for arrangements to address overdue balances. Available programs include the Dollar Energy Fund, the West Virginia Emergency Assistance Program, and a 20 Percent Discount Program. Customer service teams are ready to assist residential and business clients with these options.
FirstEnergy Corp's Pennsylvania electric utilities are urging residential and business customers facing financial hardships due to the pandemic to enroll in payment plans and bill assistance programs. While shutoffs for nonpayment are suspended, establishing affordable arrangements is crucial for managing overdue balances. Assistance programs include the Dollar Energy Fund offering up to $500, the Pennsylvania Customer Assistance Program, and LIHEAP grants of up to $800, available until August 31. Customers can contact their utilities for more information and support.
FirstEnergy Corp. (NYSE: FE) has made significant progress in restoring power to customers affected by Tropical Storm Isaias. Over 785,200 out of 788,000 customers have had their service restored, with expectations for full restoration by midnight. Utility crews have repaired extensive damage, replacing over 53 miles of wire and more than 550 poles. Approximately 2,800 customers remain without power, requiring individualized restoration efforts due to localized issues. The utility has emphasized health safety protocols as crews work around the clock.
FirstEnergy Corp. (NYSE: FE) continues to restore power for Jersey Central Power & Light (JCP&L) customers impacted by Tropical Storm Isaias. Over 769,500 of the 788,000 customers affected have had their power restored, with around 18,500 still without service. More than 9,000 utility personnel are working diligently, having replaced over 200,000 feet of wire and repaired more than 500 poles. Restoration efforts are expected to be completed for most remaining customers by late August 10 and August 11. Customers can report outages via phone or online tools.
FirstEnergy Corp. (NYSE: FE) is actively restoring power for Jersey Central Power & Light (JCP&L) customers affected by Tropical Storm Isaias. Approximately 566,000 customers have had their service restored, with about 221,000 still without power. As of now, 85% of those affected are expected to have power restored by the end of the day. Efforts include the replacement of over 68,000 feet of wire and hundreds of poles. FirstEnergy continues to work closely with utility partners to expedite restoration efforts.
FirstEnergy Corp. (NYSE: FE) reports ongoing power restoration efforts for customers affected by Tropical Storm Isaias. Service has been restored to approximately 478,000 JCP&L customers and 83,000 Met-Ed customers. Currently, around 310,000 JCP&L customers remain without power, primarily in New Jersey's hardest-hit counties. Restoration is expected to reach 85% by Friday, with full restoration by August 11. Nearly 6,000 utility personnel are involved in the efforts, with additional resources being secured.
FirstEnergy Corp. (NYSE: FE) has restored power to over 288,000 customers affected by Tropical Storm Isaias, with approximately 588,000 still without service in New Jersey and Pennsylvania. The storm resulted in severe damage, with winds over 65 mph and up to 7 inches of rain. Nearly 4,000 personnel are engaged in restoration efforts, with expected completion for Met-Ed customers by August 7. FirstEnergy emphasizes safety protocols amid the ongoing pandemic while managing the crisis. Customers can check for updates on outages and restoration progress through the company’s resources.
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