AKRON, Ohio, July 15, 2025 /PRNewswire/ -- FirstEnergy Corp. (NYSE: FE) Board Chair, President and CEO Brian X. Tierney addressed government officials, global investors and leaders in energy, technology, labor and trade during today's Pennsylvania Energy and Innovation Summit at Carnegie Mellon University in Pittsburgh, hosted by Senator David McCormick. Tierney emphasized FirstEnergy's commitment to building a modern energy grid that supports growth and innovation fueled by emerging technologies.Brian Tier ...

Core Points - FirstEnergy Foundation has donated $25,000 to IM Able Foundation as part of over $1 million granted in the first half of 2025 to enhance community wellbeing [1][2] - The funding supports IM Able's Operation Lead from the Front initiative, which focuses on helping military veterans transition to civilian life through adaptive fitness programs [2][4] - The initiative aims to serve 2,500 clients, offering various outdoor activities and enhanced training for veterans mentoring individuals with disabilities [2][3] Company Overview - FirstEnergy serves over 6 million customers across multiple states, including Ohio, Pennsylvania, New Jersey, West Virginia, Maryland, and New York [10] - Met-Ed, a subsidiary of FirstEnergy, serves approximately 592,000 customers in eastern and southeastern Pennsylvania [9] - The FirstEnergy Foundation supports 501(c)(3) nonprofits that address critical community needs, with grants totaling nearly $1.1 million through June 2025 [5][6]

Core Viewpoint - FirstEnergy Corporation's ongoing investments are expected to enhance grid reliability and operational efficiency, although the company faces risks related to base rate request approvals and seasonal demand fluctuations [1][5][6]. Group 1: Positive Factors - FirstEnergy is experiencing favorable economic conditions and increased demand from commercial and industrial sectors, with a plan for data center development that includes 2.6 gigawatts of active or contracted demand from 2025 to 2029 [2][8]. - The company's 'Energize365' program aims to modernize its grid infrastructure with planned investments of $28 billion from 2025 to 2029, focusing on advanced technologies to improve transmission and distribution [3][8]. - The EnergizeNJ initiative, part of the Energize365 program, has received approval for over $20.4 million in grid modernization efforts, which will enhance service reliability by upgrading power lines with TripSaver II devices [4][8]. Group 2: Challenges - FirstEnergy cannot ensure the approval of its base rate requests, and any delays or denials could negatively impact its ability to recover service costs, affecting operations and financial health [5]. - The company's performance is subject to seasonal variations in electricity demand, with weather patterns significantly influencing sales, particularly during peak summer and winter months [6]. Group 3: Stock Performance - Over the past three months, FirstEnergy's stock has increased by 5.3%, outperforming the industry average growth of 3.3% [7].

Core Insights - FirstEnergy Corp. provides practical tips for customers to manage energy use during the summer heat wave, emphasizing cost control and comfort [1][2]. Group 1: Energy Management Tips - Boost airflow with ceiling or box fans to reduce air conditioning use [5] - Use window AC units only when rooms are occupied [5] - Set thermostats as high as comfort allows [5] - Block the sun by keeping blinds and curtains closed during daylight hours [5] - Close vents and doors to rooms not being used [5] - Delay chores like laundry, dishwashing, and cooking until early morning or late evening [5] - Grill outdoors instead of heating up the kitchen [5] - Unplug electronics and chargers when not in use [5] - Choose ENERGY STAR® appliances and HVAC systems when upgrading [5] - Clean or replace HVAC filters regularly [5] Group 2: Company Overview - FirstEnergy is one of the nation's largest investor-owned electric systems, serving over six million customers across multiple states [3] - The company's transmission subsidiaries operate more than 24,000 miles of transmission lines connecting the Midwest and Mid-Atlantic regions [3]

Core Insights - Electricity supply costs have surged this summer, accounting for nearly 60% of a family's bill in the service territory, prompting JCP&L to implement a $30 deferral credit for residential bills in July and August, which will be recovered through a $10 monthly charge from September to February [1][4] Group 1: Rising Supply Costs - The increase in supply costs is attributed to a combination of rising demand and reduced supply due to power plant retirements, leading to a spike in Basic Generation Service (BGS) rates, which increased the average residential bill by 19.6% [4] - The average residential customer of JCP&L uses 777 kilowatt-hours (kWh) per month, and JCP&L passes supply costs directly to customers without markup [4] Group 2: Customer Assistance Programs - JCP&L has introduced several initiatives to assist customers, including a limited suspension of service shut-offs, waived reconnection fees, enhanced deferred payment agreements allowing up to 24 months for past-due balances, and bill assistance programs for income-eligible customers [8] - Additional energy efficiency tools and resources are available, such as the Home Energy Analyzer, HVAC rebates, and tips for saving energy without sacrificing comfort [8] Group 3: Company Overview - FirstEnergy operates one of the nation's largest investor-owned electric systems, serving over six million customers across multiple states, including New Jersey [6]

Core Viewpoint - FirstEnergy Corp. emphasizes the importance of safety during summer outdoor activities to prevent power outages and ensure public safety [1][4]. Group 1: Safety Precautions - Families are encouraged to take simple precautions while enjoying summer activities, such as securing foil balloons to prevent them from drifting into power lines [5][6]. - Fireworks should be left to professionals, and any incidents involving fireworks and power lines should be reported immediately [7]. - Drone operators are advised to be mindful of electrical equipment and can engage with FirstEnergy's Drone Safety Zone video game to learn safety practices [8]. Group 2: Smart Summer Safety Tips - Recommendations include avoiding flying kites or drones near power lines, not retrieving items tangled in wires, and keeping electrical cords at least 10 feet away from pools or spas [9][13]. - The company promotes the use of battery-powered devices outdoors when possible to enhance safety [9]. Group 3: Company Commitment - FirstEnergy is dedicated to integrity, safety, reliability, and operational excellence, serving customers across multiple states with a vast network of transmission lines [11].

Core Viewpoint - FirstEnergy Corp. plans to offer $950 million of convertible senior notes due 2029 and $850 million due 2031 in a private placement, with an option for initial purchasers to buy an additional $150 million of each series within 13 days of issuance [1][2]. Group 1: Offering Details - The offering consists of two series of convertible senior notes: the 2029 Notes and the 2031 Notes, totaling $1.8 billion [1]. - The Notes will be unsecured and unsubordinated obligations of FirstEnergy, convertible under certain conditions, with interest payable semiannually [3]. - The offering is targeted at qualified institutional buyers under Rule 144A of the Securities Act, and the Notes will not be registered under the Securities Act [4]. Group 2: Use of Proceeds - Net proceeds from the offering will be used for repurchasing existing convertible senior notes, repaying or refinancing existing debt, and general corporate purposes [2]. Group 3: Company Overview - FirstEnergy serves over 6 million customers across several states and operates approximately 24,000 miles of transmission lines [6].

Core Insights - FirstEnergy Corporation (FE) has completed its third utility-scale solar site in West Virginia, contributing to the state's electricity needs and supporting American manufacturing [1][10] - The new solar facility at Marlowe site produces up to 5.75 megawatts (MW) of renewable power, enough to power hundreds of homes [2][10] - The company's solar projects are part of a broader initiative to meet the growing demand for renewable energy and comply with state legislation allowing electric companies to own solar generation plants [4][10] Project Highlights - The Marlowe solar site features over 17,000 solar panels and occupies approximately 36 acres of land [2][3] - FirstEnergy's West Virginia solar program aligns with a 2020 bill permitting electric companies to operate up to 200 MW of solar generation plants [4] - The company plans a total of five solar projects that will generate 50 MW of solar energy and create over 87,000 solar renewable energy credits (SRECs) [5][6][10] Clean Energy Commitment - Mon Power and Potomac Edison have already initiated solar projects, including the Rivesville solar site (5.5 MW) and the Fort Martin Power Station (18.9 MW) [5] - The company's commitment to renewable energy is further demonstrated through its 'Energize365' program, which includes planned investments of $28 billion from 2025 to 2029 for grid modernization [7][8] Industry Context - The U.S. Energy Information Administration (EIA) projects that renewable energy sources will account for 25% of U.S. electricity generation by 2025 [11] - Other electric power companies, such as Duke Energy, Alliant Energy, and Entergy Corporation, are also expanding their solar energy capabilities, indicating a growing trend in the industry [12][13][14] Stock Performance - Over the past three months, FE's stock has increased by 4.8%, outperforming the industry average growth of 3.1% [17]

Core Points - FirstEnergy Corp. announced the FirstEnergy Foundation has distributed over $2 million in the first two quarters of 2025 to support local nonprofits [1] - The Foundation granted nearly $1.1 million for community needs including hunger relief, youth education, and disaster relief [2] - FirstEnergy employees have contributed nearly 5,000 volunteer hours this year, supported by the company's provision of 16 hours of volunteer time off annually [3] - Following the retirement of Lorna Wisham, FirstEnergy is seeking a new leader for the FirstEnergy Foundation to align giving priorities with business strategy [4] - The FirstEnergy Foundation supports 501(c)(3) tax-exempt nonprofits that address critical community needs [5] - FirstEnergy serves over 6 million customers across multiple states and operates approximately 24,000 miles of transmission lines [6]

Core Points - Mid-Atlantic Interstate Transmission Company (MAIT), a subsidiary of FirstEnergy Corp., is utilizing a helicopter with an aerial saw to trim trees along over 400 miles of high-voltage power lines in Pennsylvania, with completion expected by the end of 2025 [1][2] - The aerial saw is designed to maintain proper clearances around transmission lines, which helps prevent tree-related power outages, especially during severe weather [3][4] - The project is part of FirstEnergy's $51 million vegetation management program, which aims to trim trees along more than 4,100 miles of power lines in the Penelec service area [7] Company Operations - The aerial saw can cut tree limbs 8 to 10 inches in diameter, allowing for efficient trimming that covers more area in a day compared to traditional ground crews [5][4] - The helicopter operates in environmentally sensitive or inaccessible areas, enhancing safety and efficiency in maintaining high-voltage power lines [4][6] - FirstEnergy serves approximately 597,000 customers across 17,600 square miles in northern and central Pennsylvania through its Penelec service [7][8]