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FirstEnergy Customers Can Get Help with Summer Electric Bills
Prnewswire· 2025-08-28 17:25
Core Points - FirstEnergy Corp. subsidiaries are promoting the Home Energy Assistance (HEAP) Summer Crisis Program to help residential customers manage energy costs during hot summer months [1][2] - Eligible customers can receive up to $500 in one-time assistance through the HEAP Summer Crisis Program until September 30 [2] - FirstEnergy's Ohio electric companies offer various year-round assistance programs to support customers with energy bills and other needs [3] Company Overview - Ohio Edison serves over 1 million customers across 34 counties in Ohio [4] - The Illuminating Company serves more than 750,000 customers in specific counties [4] - Toledo Edison serves nearly 315,000 customers in northwest Ohio [5] - FirstEnergy operates one of the largest investor-owned electric systems in the U.S., serving over 6 million customers across multiple states [6] Assistance Programs - Percentage of Income Payment Plan Plus (PIPP Plus) allows customers to pay a percentage of their income toward their electric bill [9] - Home Energy Assistance Program (HEAP) provides cash grants for home heating bills and emergencies [9] - Project REACH offers support for Ohio Edison customers facing financial hardship [9] - Community Outreach Opportunity Program (CO-OP) assists Illuminating Co. customers needing temporary support [9] - Ohio Fuel Fund provides cash grants to help Illuminating Co. customers pay their electric bills [9] - Neighbors Helping Neighbors program supports Toledo Edison customers experiencing financial challenges [9]
Potomac Edison Residential Customers in Maryland to Receive Legislative Energy Relief Refund Bill Credits
Prnewswire· 2025-08-28 15:31
Core Points - Potomac Edison residential customers in Maryland will receive bill credits as part of the Legislative Energy Relief Refund, aimed at alleviating rising electricity costs [1][2] - The first credit will be issued in September 2025, with a second credit expected in January or February 2026, based on each household's average electricity usage [2][4] - The credits are funded through payments from utilities and electricity suppliers under Maryland's renewable energy laws, and will not be charged back to customers [4] Eligibility and Process - Eligible customers will automatically receive the credits without needing to sign up or apply [3][7] - Customers must have an active residential electricity account as of June 1, 2025, and must have recorded electricity usage between April 1, 2024, and March 31, 2025 [7] Additional Support and Programs - Potomac Edison offers year-round programs to assist customers with electric bills, including bill assistance for income-eligible customers and energy efficiency tools [8] - The company serves approximately 285,000 customers in Maryland and 155,000 customers in West Virginia [4][5]
Big Reliability Boost Coming to Adams County
Prnewswire· 2025-08-27 17:03
Core Insights - A major reliability project is being implemented in Adams County, Pennsylvania, aimed at enhancing electric service for nearly 2,300 residents and businesses, including key facilities like Hanover Hospital and WellSpan Health [1][2]. Project Details - The East Germantown-Germantown Reliability Project, led by Mid-Atlantic Interstate Transmission (MAIT), a subsidiary of FirstEnergy, includes the construction of a new substation and a 115-kilovolt (kV) transmission line to improve service reliability and support future growth in the area served by FirstEnergy Pennsylvania Electric Company (Met-Ed) [3]. - The new East Germantown Substation is expected to be built and energized by the end of March 2026, connecting to the existing Germantown Substation via a newly constructed high voltage power line [4]. - Upon completion, the project will provide an additional electricity source, enhance operational flexibility, and expand switching capabilities, allowing for quicker restoration during outages [5]. Importance of the Project - The project aims to strengthen the grid to better handle peak loads and reduce the frequency and duration of outages, particularly during high demand periods such as heat waves or storms [6]. - The upgrades will function similarly to a backup generator for the community, designed to accommodate future growth as more homes and businesses are established [6]. Environmental Considerations - The transmission line route has been carefully studied to minimize impacts on environmentally sensitive areas and local communities, with vegetation restoration and environmental work continuing into 2026 [7]. Broader Investment Strategy - This project is part of Energize365, FirstEnergy's $28 billion investment program aimed at modernizing the electric grid from 2025 to 2029, focusing on creating a smarter and more secure grid to meet current and future customer needs [8]. - Met-Ed serves approximately 592,000 customers across 3,300 square miles in eastern and southeastern Pennsylvania [8]. Company Overview - FirstEnergy operates one of the largest investor-owned electric systems in the U.S., serving customers in multiple states and managing approximately 24,000 miles of transmission lines connecting the Midwest and Mid-Atlantic regions [9].
PPL vs. FirstEnergy: Which Utility Stock Powers Up Stronger Returns?
ZACKS· 2025-08-22 14:55
Industry Overview - Utility service providers are benefiting from increased electricity tariffs, accretive acquisitions, cost reductions, and energy-efficiency initiatives [1] - The power industry is also seeing improvements in electric infrastructure resilience against adverse weather and a transition to renewable energy sources [1] Capital Expenditures - Maintenance and improvement of utilities' infrastructure rely heavily on capital expenditures for updating and modernizing assets [2] - Utility providers are investing in output enhancement to meet the growing demand for data centers [2] Transition to Renewable Energy - U.S. electric utilities are evolving beyond revenue generation due to climate measures and federal incentives, positioning them for gradual growth in the clean energy sector [3] Investment Opportunities - Companies like PPL Corporation and FirstEnergy are becoming attractive investment options due to strategic investments in grid infrastructure upgrades [4] - PPL is focusing on infrastructure projects to reduce outages and enhance service resilience [5] - FirstEnergy has expanded its regulated activities and is benefiting from improved economic conditions and increased demand [7] Data Center Demand - In Pennsylvania, potential data center demand has increased to 14.4 GW, with a projected capital investment of $0.75-$1.25 billion [6] - FirstEnergy's long-term data center load demand has grown over 80% since February 2025, totaling 11.1 GW [8] Earnings Estimates - The Zacks Consensus Estimate for PPL's 2025 and 2026 earnings per share indicates increases of 7.69% and 8.33%, respectively [9] - FirstEnergy's projected earnings show a decrease of 3.8% for 2025 but an increase of 6.72% for 2026 [11] Return on Equity - PPL's current return on equity (ROE) is 8.81%, while FirstEnergy's is 11.31%, outperforming the industry average of 10.14% [13] Strategic Investment Plans - PPL plans $20 billion in regulated capital investments from 2025 to 2028 [14] - FirstEnergy has planned investments of $28 billion between 2025 and 2029 [15] Dividend Yield - PPL's dividend yield is 2.97%, compared to FirstEnergy's 4.09% [16] Debt Position - PPL has a debt-to-capital ratio of 55.47%, while FirstEnergy's is 64.56%, both compared to the industry's 59.75% [17] - Both companies maintain a times interest earned (TIE) ratio above 1, indicating financial flexibility [18] Investment Recommendation - PPL is currently favored over FirstEnergy due to better debt management and growth in earnings estimates, with both stocks holding a Zacks Rank 3 (Hold) [19]
Big Upgrades Completed to Meet Future Energy Demands in Western Pennsylvania
Prnewswire· 2025-08-18 15:05
Core Insights - FirstEnergy Pennsylvania Electric Company (FE PA), operating as West Penn Power, has completed significant upgrades to its power grid, enhancing reliability and resilience for approximately 2,300 customers in Unity and Hempfield townships [1][2][4]. Investment and Infrastructure - The upgrades are part of a $368 million investment under the Long Term Infrastructure Improvement Plan (LTIIP) III, aimed at improving electric system reliability in West Penn Power's service area [7]. - This initiative is part of FirstEnergy's broader $28 billion investment program, Energize365, which focuses on modernizing the electric grid from 2025 to 2029 [7]. Technical Enhancements - A one-mile section of the grid has been upgraded with larger wires, new utility poles, crossarms, and transformers, which will help reduce outages and support local growth [3][9]. - The project also includes tree trimming to minimize outage risks and the installation of a manual switch to facilitate quicker repairs [9]. Community Impact - Residents in several housing developments, including Jamell Acres and Timbercrest, will benefit from the upgrades, which also support around 1,500 customers in the West Point and Eastgate areas of Hempfield Township [4][8].
FirstEnergy Foundation Supersizes United Way of Berks County "Big Cheese" Event with $100,000 Grant
Prnewswire· 2025-08-13 19:50
Core Insights - FirstEnergy Foundation has contributed a $100,000 grant to the United Way of Berks County's Big Cheese event, which will provide 500,000 meals to those facing food insecurity, doubling the number of meals from the previous year [2][5] - The event involved 1,000 volunteers packaging meals, which were distributed to local food banks and the Reading School District [2][4] - In Berks County, 20% of residents are food insecure, including 25,000 children, highlighting the critical need for such initiatives [3] Company Contributions - The FirstEnergy Foundation has granted nearly $2 million in the first half of 2025 to support various community initiatives, including the Big Cheese event [5] - FirstEnergy is committed to supporting 501(c)(3) tax-exempt nonprofits that address critical community needs in areas served by its electric operating companies [5][8] Community Impact - The partnership between FirstEnergy and the United Way of Berks County is rooted in community spirit and aims to ensure access to nutritious meals for families in need [4][6] - The United Way of Berks County has been active since 1925, focusing on education, food security, and workforce development to help the community thrive [6]
Fewer Outages and Faster Restoration Coming to JCP&L Customers in Northern Monmouth County
Prnewswire· 2025-08-11 12:58
Core Insights - The investment by JCP&L is aimed at enhancing the reliability and safety of electricity delivery to its customers, reflecting a commitment to a resilient energy future [1][3] - The New Jersey Reliability Improvement Project is a two-phase initiative with a budget of at least $95 million for upgrades over the next two years, continuing through 2028 [2][3] - FirstEnergy's broader investment program, Energize365, involves a total of $28 billion aimed at modernizing the electric grid from 2025 to 2029 [3] Project Details - The project includes upgrading over 2.5 miles of overhead power lines and poles to improve capacity and storm resilience [8] - Modernization efforts will involve installing devices that detect abnormal conditions and automatically protect equipment [8] - Additional equipment will be added to reroute power during outages, minimizing the number of affected customers [7][8] Customer Impact - The upgrades are expected to result in fewer outages, limiting the number of customers affected during incidents [7] - Restoration times will be faster as crews will have improved capabilities to reroute power efficiently [7] - The enhancements will provide JCP&L with greater flexibility to respond to issues and maintain power flow [7]
JCP&L Investing $15 Million in Stronger Electric Future for Hunterdon County
Prnewswire· 2025-08-11 12:45
Core Insights - The article discusses the growing electricity demand in communities served by JCP&L and the upgrades being made to enhance grid resiliency and flexibility [1][2] Group 1: Project Overview - The upgrades are part of JCP&L's New Jersey Reliability Improvement Project, which is a two-phase initiative aimed at improving the reliability of lines with a history of outages [3] - At least $95 million will be invested in upgrades over the next two years, with longer-term projects extending through 2028 [3] Group 2: Investment Program - The New Jersey Reliability Improvement Project is part of FirstEnergy's broader Energize365 program, which involves a $28 billion investment to modernize the electric grid from 2025 to 2029 [4] Group 3: Customer Base - JCP&L serves approximately 1.1 million customers across multiple counties in New Jersey [5] Group 4: Infrastructure Enhancements - Key enhancements include reconfiguring neighborhood circuits for better reliability, upgrading over 20 miles of overhead power lines, installing nearly 3 miles of underground wires, and increasing automated technology for quicker service restoration [8] - Additional efforts include enhanced vegetation management to improve service reliability [8]
New Met-Ed Substation Brings Stronger and More Reliable Power to Northampton County
Prnewswire· 2025-08-08 14:55
Core Insights - The Klecknersville Substation, recently energized by FirstEnergy Pennsylvania Electric Company, provides a new power source for over 5,000 residents and businesses in Northampton County, enhancing regional development [1][2]. Group 1: Infrastructure and Technology - The new substation allows for shorter power lines (5 to 10 miles) compared to the previous 15 to 20 miles, improving efficiency and reducing vulnerability to outages caused by tree damage and vehicle accidents [3]. - Equipped with smart grid technology, the substation can automatically detect and isolate problems, restore service remotely, and pinpoint outage locations to expedite repairs [4][9]. Group 2: Community Impact - The substation strengthens the grid for 5,400 Met-Ed customers and alleviates the load on the Northwood Substation, particularly during high demand periods [4]. - Wildlife guards have been installed to prevent animal-related outages, enhancing reliability [5]. Group 3: Investment and Future Plans - The project is part of FirstEnergy's Energize365 initiative, a $28 billion investment program aimed at modernizing the electric grid from 2025 to 2029 [6]. - Met-Ed serves approximately 592,000 customers across 3,300 square miles in eastern and southeastern Pennsylvania, indicating significant regional service capacity [6].
FirstEnergy Foundation Grant Powers Asbury Park's Comeback
Prnewswire· 2025-08-07 18:43
Core Points - FirstEnergy Foundation awarded one of the largest grants in New Jersey this year, contributing to over $2 million in community support in the first half of 2025 [1] - The grant supports Interfaith Neighbors, which addresses poverty in Asbury Park through various programs [2] - Interfaith Neighbors has been active for nearly four decades, focusing on housing, food, and job assistance [3] Company Overview - FirstEnergy serves over six million customers across multiple states, including Ohio, Pennsylvania, New Jersey, West Virginia, Maryland, and New York [5] - The company operates approximately 24,000 miles of transmission lines connecting the Midwest and Mid-Atlantic regions [5] - JCP&L, a subsidiary of FirstEnergy, serves 1.1 million customers in New Jersey [4] Community Programs - The Launch Center provides job training and career coaching [7] - The Early Childhood Learning Center offers a nurturing environment for children while supporting parents [7] - Meals on Wheels delivers over 800 meals daily, totaling more than 330,000 meals annually [7] - Kula Urban Farm operates a hydroponic greenhouse, providing job training and free food [7]