STOCK TITAN

Power System Upgrades Underway to Enhance Electric Service for West Virginia Residents and Businesses

Rhea-AI Impact
(Low)
Rhea-AI Sentiment
(Neutral)
Tags

FirstEnergy Corp. (NYSE: FE) subsidiary Mon Power is upgrading equipment at eight transmission substations in West Virginia to enhance electric service for over 13,000 customers. The project involves replacing existing equipment with new communication equipment and electrical relays to reduce the frequency and severity of power outages. The upgrades are taking place in Preston, Wood, Taylor, Roane, Braxton, and Hancock counties, with completion expected by year-end.

This initiative is part of FirstEnergy's Energize365 program, a multi-year grid evolution plan with planned investments of $26 billion between 2024 and 2028. The program aims to create a smarter, more secure grid to meet future challenges, including electric vehicle adoption and clean energy integration.

La sussidiaria di FirstEnergy Corp. (NYSE: FE), Mon Power, sta aggiornando l'attrezzatura in otto sottostazioni di trasmissione nella Virginia Occidentale per migliorare il servizio elettrico per oltre 13.000 clienti. Il progetto prevede la sostituzione dell'attrezzatura esistente con nuove attrezzature di comunicazione e relè elettrici per ridurre la frequenza e la gravità delle interruzioni di corrente. Gli aggiornamenti avverranno nei distretti di Preston, Wood, Taylor, Roane, Braxton e Hancock, con completamento previsto entro la fine dell'anno.

Questa iniziativa fa parte del programma Energize365 di FirstEnergy, un piano evolutivo della rete pluriennale con investimenti pianificati di 26 miliardi di dollari tra il 2024 e il 2028. Il programma mira a creare una rete più intelligente e sicura per affrontare le sfide future, tra cui l'adozione di veicoli elettrici e l'integrazione di energie pulite.

La subsidiaria de FirstEnergy Corp. (NYSE: FE), Mon Power, está actualizando equipos en ocho subestaciones de transmisión en Virginia Occidental para mejorar el servicio eléctrico a más de 13,000 clientes. El proyecto consiste en reemplazar el equipo existente por nuevo equipo de comunicación y relés eléctricos para reducir la frecuencia y severidad de los cortes de energía. Las actualizaciones se llevarán a cabo en los condados de Preston, Wood, Taylor, Roane, Braxton y Hancock, con una finalización esperada para finales de año.

Esta iniciativa es parte del programa Energize365 de FirstEnergy, un plan de evolución de la red a varios años con inversiones planificadas de 26 mil millones de dólares entre 2024 y 2028. El programa tiene como objetivo crear una red más inteligente y segura para afrontar los desafíos futuros, incluyendo la adopción de vehículos eléctricos y la integración de energías limpias.

퍼스트에너지 코퍼레이션(NYSE: FE)의 자회사인 몬 파워는 웨스트버지니아의 여덟 개 변전소의 장비를 업그레이드하고 있습니다, 13,000명 이상의 고객을 위한 전기 서비스 향상을 위해서입니다. 이 프로젝트는 기존 장비를 새로운 통신 장비와 전기 릴레이로 교체하여 정전의 빈도와 심각성을 줄이는 것을 포함합니다. 업그레이드는 프레스트, 우드, 테일러, 로안, 브랙스톤 및 핸콕 카운티에서 진행되며, 연말까지 완료될 예정입니다.

이 이니셔티브는 퍼스트에너지의 Energize365 프로그램의 일환으로, 2024년부터 2028년까지 260억 달러의 계획된 투자가 포함된 다년간의 그리드 진화 계획입니다. 이 프로그램의 목표는 전기차 도입 및 청정 에너지 통합을 포함한 미래의 도전에 대응하기 위해 더 스마트하고 안전한 그리드를 만드는 것입니다.

La filiale de FirstEnergy Corp. (NYSE: FE), Mon Power, améliore l'équipement de huit sous-stations de transmission en Virginie-Occidentale pour renforcer le service électrique pour plus de 13 000 clients. Le projet implique le remplacement de l'équipement existant par de nouveaux équipements de communication et des relais électriques afin de réduire la fréquence et la gravité des coupures de courant. Les mises à niveau ont lieu dans les comtés de Preston, Wood, Taylor, Roane, Braxton et Hancock, avec une finition prévue d'ici la fin de l'année.

Cette initiative fait partie du programme Energize365 de FirstEnergy, un plan d'évolution du réseau sur plusieurs années avec des investissements prévus de 26 milliards de dollars entre 2024 et 2028. Le programme vise à créer un réseau plus intelligent et plus sûr pour faire face aux défis futurs, notamment l'adoption des véhicules électriques et l'intégration des énergies renouvelables.

Die Tochtergesellschaft von FirstEnergy Corp. (NYSE: FE), Mon Power, modernisiert die Ausrüstung an acht Umspannwerken in West Virginia, um den elektrischen Service für über 13.000 Kunden zu verbessern. Das Projekt umfasst die Ersetzung der bestehenden Geräte durch neue Kommunikationsgeräte und elektrische Relais, um die Häufigkeit und Schwere von Stromausfällen zu reduzieren. Die Aufrüstungen finden in den Bezirken Preston, Wood, Taylor, Roane, Braxton und Hancock statt, wobei die Fertigstellung bis zum Jahresende erwartet wird.

Diese Initiative ist Teil des Energize365-Programms von FirstEnergy, einem mehrjährigen Plan zur Weiterentwicklung des Stromnetzes mit geplanten Investitionen von 26 Milliarden Dollar zwischen 2024 und 2028. Das Programm zielt darauf ab, ein intelligenteres und sichereres Netz zu schaffen, um zukünftigen Herausforderungen, einschließlich der Einführung von Elektrofahrzeugen und der Integration von erneuerbaren Energien, gerecht zu werden.

Positive
  • Upgrading equipment at eight transmission substations to enhance service for 13,000+ customers
  • Part of Energize365 program with $26 billion planned investments from 2024 to 2028
  • Improvements aimed at reducing frequency and severity of power outages
  • Enhancing system performance and contributing to economic stability in West Virginia
Negative
  • None.

Insights

FirstEnergy's $26 billion Energize365 program, including these substation upgrades, represents a significant long-term investment in grid modernization. While beneficial for service reliability, the immediate financial impact on FE stock may be The program's multi-year nature suggests gradual implementation and cost recovery through regulated rate structures.

The focus on rural areas and 13,000 customers indicates a relatively small-scale project within FirstEnergy's broader operations. However, it aligns with the industry trend towards grid resilience and smart technology integration. Investors should monitor how effectively FirstEnergy executes these upgrades and whether they translate into measurable improvements in customer satisfaction and operational efficiency.

This initiative aligns with broader energy policy goals of grid modernization and reliability enhancement. The upgrades, particularly the new relay technology, support the integration of clean energy sources and electrification efforts mentioned in the Energize365 program. This positions FirstEnergy favorably in the context of evolving regulatory landscapes that prioritize grid resilience and sustainability.

However, the regulatory environment in West Virginia will be important to watch. The ability to recover costs through rate adjustments will impact the financial viability of these investments. Investors should also consider how this project fits into FirstEnergy's overall strategy to adapt to changing energy policies and market dynamics in its multi-state service area.

New substation equipment to benefit more than 13,000 Mon Power customers in six counties

FAIRMONT, W.Va., Aug. 21, 2024 /PRNewswire/ -- FirstEnergy Corp. (NYSE: FE) electric company Mon Power is replacing and upgrading equipment at eight transmission substations in its West Virginia service territory to help prevent or minimize the impact of power outages for more than 13,000 customers who are served by high-voltage power lines connected to the substations.

The work involves replacing existing substation equipment with new communication equipment, including electrical relays containing technology that helps reduce the frequency and severity of potential outages caused by issues such as animal contacts and tree-related damage. The primary purpose of a relay is to protect the electrical system from too high of a voltage or current without causing unnecessary outages, allowing the safe operation of equipment to which it connects. 

The substations are located in the Kingwood, Parkersburg, Pruntytown, Spencer, Sutton and Weirton areas in Preston, Wood, Taylor, Roane, Braxton and Hancock counties, respectively. Mon Power started the upgrade projects in the spring and expects to complete the work by the end of the year.

Jim Myers, Vice President of First Energy's West Virginia and Maryland Operations: "By minimizing the impact of power outages, especially during severe weather in rural areas, we are helping ensure the delivery of reliable power to thousands of customers. These upgrades will not only enhance our system's performance but also contribute to the overall economic stability and well-being of the communities we serve in West Virginia."

This work builds upon system enhancements Mon Power completed last year at its substations in the Clarksburg and Fairview areas, which benefited more than 5,500 customers served by connecting transmission lines.

The projects are part of Energize365, a multi-year grid evolution program focused on transmission and distribution investments that will deliver the power FirstEnergy's customers depend on today while also meeting the challenges of tomorrow. With planned investments of $26 billion between 2024 and 2028, the program will create a smarter, more secure grid that will meet and exceed reliability targets and accommodate electric vehicles, the electrification of homes and businesses, and clean energy sources.

Mon Power serves about 395,000 customers in 34 West Virginia counties. Follow Mon Power at mon-power.com, on X, formerly known as Twitter, @MonPowerWV, and on Facebook at facebook.com/MonPowerWV

FirstEnergy is dedicated to integrity, safety, reliability and operational excellence. Its electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate approximately 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy online at www.firstenergycorp.com and on X @FirstEnergyCorp.

 

Cision View original content to download multimedia:https://www.prnewswire.com/news-releases/power-system-upgrades-underway-to-enhance-electric-service-for-west-virginia-residents-and-businesses-302227850.html

SOURCE FirstEnergy Corp.

FAQ

What upgrades is FirstEnergy (FE) making to its West Virginia power system?

FirstEnergy's Mon Power is replacing and upgrading equipment at eight transmission substations in West Virginia, including new communication equipment and electrical relays, to enhance electric service and reduce power outages for over 13,000 customers.

How many customers will benefit from FirstEnergy's (FE) substation upgrades in West Virginia?

More than 13,000 Mon Power customers in six West Virginia counties will benefit from the substation equipment upgrades.

When does FirstEnergy (FE) expect to complete the West Virginia substation upgrades?

Mon Power, a FirstEnergy subsidiary, started the upgrade projects in spring 2024 and expects to complete the work by the end of the year.

What is FirstEnergy's (FE) Energize365 program?

Energize365 is FirstEnergy's multi-year grid evolution program focused on transmission and distribution investments, with planned investments of $26 billion between 2024 and 2028 to create a smarter, more secure grid.

FirstEnergy Corp.

NYSE:FE

FE Rankings

FE Latest News

FE Stock Data

23.70B
575.92M
0.12%
89.25%
1.9%
Utilities - Regulated Electric
Electric Services
Link
United States of America
AKRON