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 Corp. is deploying 190 line workers and support personnel to assist Alabama Power in restoring power following Hurricane Sally, which struck Alabama as a Category 2 storm with 100 mph winds. This mutual aid effort underscores FirstEnergy's commitment to helping other utilities during crises, having also recently aided in Texas and Louisiana after Hurricane Laura. Although Hurricane Sally's remnants are not expected to affect FirstEnergy's service areas, the company is prepared to maintain reliable operations for its customers.
FirstEnergy Corp. (NYSE: FE) declared a quarterly dividend of 39 cents per share, remaining unchanged from previous periods. This dividend is payable on December 1, 2020, to shareholders on record by November 6, 2020. The company aims to maintain its commitment to safety and operational excellence across its extensive electric distribution network serving multiple states including Ohio and Pennsylvania. Financial stability remains a focus for FirstEnergy amidst ongoing challenges, including COVID-19 impacts and government investigations.
West Penn Power, a subsidiary of FirstEnergy Corp. (NYSE: FE), will implement a $147 million Long-Term Infrastructure Improvement Plan (LTIIP II) over the next five years to enhance service reliability for its 725,000 customers. This plan includes the installation of 6,000 to 7,500 fuses, costing around $21 million, intended to reduce outage impacts caused by severe weather and equipment failures. The initiative should improve equipment protection and decrease the average number of customers affected by outages by over 10% compared to previous installations.
FirstEnergy Corp. (NYSE: FE) has dispatched over 525 line workers and support teams to Beaumont, Texas, to aid Entergy's recovery efforts following Hurricane Laura. The hurricane, classified as a category 4 storm, is expected to hit Texas and Louisiana, prompting FirstEnergy to respond despite no expected impact on its own services. Notably, eight of FirstEnergy's utilities are participating in this mutual assistance initiative, showcasing the company's commitment to safety and reliability during crises.
FirstEnergy Foundation has awarded a $27,000 grant to the Western Reserve Land Conservancy for a conservation project at Chagrin River Landing in Eastlake, Ohio. This funding completes a total project budget of $386,000, aimed at transforming a former marina into a public access park for fishing, canoeing, and kayaking. The project will enhance recreational opportunities and support environmental goals by restoring natural habitats. Work is expected to commence this fall, with efforts including property cleanup and native plantings.
The Pennsylvania Electric Company (Penelec), a subsidiary of FirstEnergy Corp. (NYSE: FE), is set to install around 2,000 automated "TripSaver" reclosing devices over the next five years to enhance service reliability. The initiative, part of a $200 million Long Term Infrastructure Improvement Plan, aims to reduce service interruptions for Penelec's 585,000 customers. Approximately 400 TripSavers will be installed in 2020, costing about $3.5 million. This technology helps to quickly restore power during outages, improving efficiency and safety for both customers and employees.
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.
