AKRON, Ohio, June 14, 2024 /PRNewswire/ -- FirstEnergy Corp.'s (NYSE: FE) distribution and transmission system is prepared to meet the anticipated increase in customer electricity usage associated with summer's first heat wave expected to spread across the Midwest and Mid-Atlantic regions beginning early next week. The following tips can help customers use electricity wisely during this period of high demand: In preparation for the hot summer months, proactive equipment inspections included using thermovisi ...

JCP&L offers a variety of assistance programs and payment plans to help eligible customers Programs customers may be eligible to participate in include: 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 t ...

AKRON, Ohio, June 11, 2024 /PRNewswire/ -- FirstEnergy Corp. (NYSE: FE) has named Stephen Avila to the role of Vice President of Customer Care, effective June 3. "Stephen brings a great deal of experience from the highly competitive retail space, effectively using technology, people and processes to drive innovative and scalable solutions to transform the customer experience," said Henry. "We look forward to his fresh perspective and expertise that will accelerate our efforts to meet the customer where they ...

In his new position, Rao will oversee and manage a broad range of FirstEnergy's legal matters, including litigation, claims, employment and labor law issues, internal investigations, and privacy and cybersecurity matters. Rao will report to Hyun Park, Senior Vice President and Chief Legal Officer. Rao, who joined FirstEnergy in 2014, currently serves as Senior Corporate Counsel II in the Federal Regulatory Group, where he has handled high-stakes federal regulatory and legal matters for the company before th ...

The utility's efforts to expand its regulated generation mix provided stability to its earnings trajectory. In the last few years, FE witnessed a successful broadening of regulated operations and a complete transition to become a fully regulated utility company. Price Return Performance Since 12/11/23 FIRSTENERGY CP (FE) vs. Utility-Electric Power Market (ZSI193M) 8.5% 6.3% FE: 4.5% .0% 1.8% Z SI193M: -1.2% -2.6% -4.9% -7.1% 12/23 1/24 3/24 2/24 4/24 5/24 6/24 － FIRSTENERGY CP (FE) % Growth = Utility-Electr ...

FAIRMONT, W.Va., June 10, 2024 /PRNewswire/ -- Mon Power, a subsidiary of FirstEnergy Corp. (NYSE: FE), recently completed an annual emergency preparation drill focused on testing its storm restoration process in the event severe weather causes outages throughout its service area. For more information about FirstEnergy's storm restoration process and tips for staying safe, visit the 24/7 Power Center at firstenergycorp.com/outages. Exercise reinforces storm roles and processes for employees Jim Myers, Presi ...

Ohio Edison to suspend streetlight service in some areas to deter flies from gathering AKRON, Ohio, June 3, 2024 /PRNewswire/ -- As communities along Lake Erie prepare for the mass arrival of mayflies this summer, FirstEnergy Corp. (NYSE: FE) electric company Ohio Edison is proactively working with local municipalities to keep roads along the lakeshore safe by temporarily turning off streetlights to deter swarms of the insects. Mayflies are attracted to streetlights and can create hazardous driving conditio ...

The rate review proposes investments in the distribution system, storm restoration work and a bill assistance initiative aimed at keeping customers' needs and expectations top of mind. The rate filing includes: AKRON, Ohio, May 31, 2024 /PRNewswire/ -- FirstEnergy Corp.'s (NYSE: FE) Ohio electric companies – Ohio Edison, The Illuminating Company, and Toledo Edison – today are filing a request with the Public Utilities Commission of Ohio (PUCO) to review their base electric rates. The rate request includes r ...

President and CEO Brian X. Tierney highlights company's progress and strong position in shareholder address; Company announces preliminary voting results AKRON, Ohio, May 22, 2024 /PRNewswire/ -- Speaking at the company's 2024 Annual Meeting of Shareholders, FirstEnergy Corp. (NYSE: FE) President and Chief Executive Officer Brian X. Tierney said FirstEnergy has become a stronger and more resilient company with a foundation of integrity and a very bright future. "We have a strong foundation, clear focus and ...

Financial Data and Key Metrics Changes - The company reported a significant increase in total equity on its balance sheet, which rose by 25% in the three months ended March 31, 2024, following a strategic transaction that raised $3.5 billion [46][48]. - The company enhanced its dividend payout, with an annual rate of $1.7 per share in 2024, representing a 6.25% increase compared to dividends declared in 2023 [49]. Business Line Data and Key Metrics Changes - The company introduced the Energize 365 program, a five-year $26 billion investment plan focused on enhancing its wires business, with 75% of investments in rate structures allowing for rapid cost recovery [37][38]. - Approximately 45% of the capital program is allocated to FERC regulated transmission investments, which include projects like offshore wind in New Jersey and new data center loads [38]. Market Data and Key Metrics Changes - The company is experiencing growing electricity demand due to the electrification of sectors such as transportation and home heating, as well as from large users like data centers [35]. - The company achieved several important regulatory milestones, including necessary revenue increases through three base rate cases, which will support investments in reliable and affordable service [44]. Company Strategy and Development Direction - The company aims to become one of the nation's premier electric companies by focusing on a business model that includes investing, operating, recovering costs, and financing regulated utility operations [36]. - The company is committed to achieving carbon neutrality for Scope one emissions by 2050 and is taking steps to reduce greenhouse gas emissions within its operational control [53]. Management's Comments on Operating Environment and Future Outlook - Management acknowledged the challenges faced in 2023, including unseasonably mild weather, but emphasized that the company managed costs effectively and increased customer-focused investments [43]. - The company is confident in its ability to achieve a targeted annual operating earnings growth rate of 6% to 8% through its strategic initiatives and investments [37]. Other Important Information - The company has made significant contributions to community support, with over $10 million donated to various organizations and nearly 28,000 hours spent volunteering by employees in 2023 [52]. - The company has implemented a new operating structure that includes five major businesses, which will enhance local accountability and operational performance [42]. Q&A Session Summary Question: What is the company's approach to integrating climate-related measures into executive compensation? - The board recommended against a proposal to integrate climate-related measures into executive compensation, stating that the current structure is sufficient [14][21]. Question: How does the company plan to address the callback policy for unearned executive pay? - The board also recommended against a proposal to improve the callback policy, indicating that the existing policy is adequate [17][21]. Question: What steps is the company taking to ensure fiduciary duty in its decarbonization commitments? - The board recommended against a proposal requesting a report on financial statement assumptions and climate change, asserting that the company is already fulfilling its fiduciary duties [22][28].