AKRON, Ohio, May 14, 2025 /PRNewswire/ -- FirstEnergy Corp. (NYSE: FE) announced today that Michael Auseré has been named Vice President, Financial Planning and Analysis, effective June 2.In this role, Auseré will have responsibility for FirstEnergy's long-range planning and budgeting processes and support overall achievement of the company's financial objectives and strategic initiatives. He will report to Jon Taylor, Senior Vice President and Chief Financial Officer, and will be relocating to Akron, Ohio. ...

AKRON, Ohio, May 14, 2025 /PRNewswire/ -- FirstEnergy Corp. (NYSE: FE) announced today that Tabrina L. Davis has been named Vice President, Communications, effective May 19.In this role, Davis will develop and execute FirstEnergy's internal and external communications strategies to support and promote the company's mission and business objectives. She will report to Brian X. Tierney, Board Chair, President and Chief Executive Officer, and will join the company's Executive Council. Davis will relocate to Akr ...

Doug Mokoid, FirstEnergy's President, New Jersey: "When our crews respond to disasters, both in our territory or as part of mutual aid, it is the American Red Cross that is routinely there, providing the support that sustains communities in the immediate aftermath. Last month's wildfire burned close to home for many of our customers and employees, and once again, the Red Cross stepped up when people needed them most." The fast-moving fire threatened more than 1,300 structures and put 3,000 residents in Ocea ...

Patrols identify invisible equipment issues to prevent future service interruptionsAKRON, Ohio, May 7, 2025 /PRNewswire/ -- To keep power flowing safely and reliably through the upcoming summer months, proactive aerial inspections along nearly 5,000 miles of high-voltage power lines are underway throughout FirstEnergy Corp.'s (NYSE: FE) six-state service area using infrared and ultraviolet (IR/UV) technology. FirstEnergy's aerial inspections are performed at low-flying patrol speeds between 25 and 35 mp ...

FirstEnergy's crews have been joined by outside assistance from Alabama, Connecticut, Delaware, Illinois, Indiana, Kentucky, Massachusetts, Maryland, Michigan, North Carolina, New Jersey, New York, Ohio, Pennsylvania, Rhode Island, Tennessee, Vermont and West Virginia, forming a contingent of approximately 4,900 total workers. As work wraps up in one area, crews are being moved to assist with restoration in other areas. Updates by electric company as of 11 a.m.: Global Estimated Time of Restoration (ETR) re ...

Core Points - FirstEnergy Corp. is actively working to restore power to approximately 150,000 customers who remain without service after a severe storm impacted 380,000 customers on April 29, 2025 [1][2] - The storm is noted as the second worst on record since 2009 in western Pennsylvania, with wind speeds reaching 110-120 mph, causing extensive damage [2] - Over 4,750 resources are deployed 24/7 to restore power, with additional severe weather expected to potentially hinder restoration efforts [1][2] Outage Details - As of the latest update, power has been restored to more than 275,000 customers, with ongoing efforts to restore service to those still affected [1] - Specific outage numbers include approximately 197,000 customers in the West Penn Power area, 107,400 in the Penelec area, 13,600 in the Penn Power area, and 36,300 in the Mon Power area [5] - Estimated times for restoration (ETR) vary by county, with many customers expected to have power restored by May 3 or May 4 [6][7] Restoration Process - FirstEnergy follows a structured restoration process, prioritizing repairs that will benefit the largest number of customers first, including critical facilities [10] - The restoration efforts begin with transmission and substation facilities before addressing isolated issues affecting individual customers [11] - Customers can check their specific outage status and ETR through FirstEnergy's online platforms [12] Customer Support - Free water and ice are being provided to customers without power, available at participating stores [9] - Customers can report outages via phone or text, and are encouraged to prioritize safety during restoration efforts [8][2]

Financial Performance - FirstEnergy reported revenues of $3,765 million for Q1 2025, a 15% increase from $3,287 million in Q1 2024[229]. - Earnings attributable to FirstEnergy increased by 42% to $360 million, or $0.62 per share, compared to $253 million, or $0.44 per share, in the prior year[229]. - FirstEnergy's total revenues for Q1 2025 were $3,765 million, an increase of $478 million (14.5%) compared to Q1 2024's $3,287 million[246][247]. - The distribution segment's earnings attributable to FirstEnergy increased by $53 million in Q1 2025, driven by higher customer usage due to colder weather and increased revenues from the Pennsylvania base rate case[249]. - The company reported earnings attributable to FirstEnergy of $360 million in Q1 2025, compared to $253 million in Q1 2024, marking a 42.3% increase[246][247]. - Net income increased by $50 million in Q1 2025 compared to Q1 2024, driven by higher revenues from the base rate case implementation and increased customer demand[417]. Revenue Sources - FirstEnergy's electric revenues in Q1 2025 were $3,719 million, up from $3,244 million in Q1 2024, reflecting a $475 million increase[246][247]. - Generation sales revenues increased by $12 million in Q1 2025, primarily due to higher retail generation sales linked to colder weather[251]. - Total revenues rose by $96 million to $548 million in Q1 2025, with distribution services contributing $266 million and generation sales contributing $278 million[418]. - Distribution services revenue increased by $50 million, attributed to higher customer usage and regulated investment programs[418]. - Generation sales revenues increased by $48 million, primarily due to higher retail sales volumes[419]. Operating Expenses - Operating expenses rose by $96 million in Q1 2025, primarily due to higher network transmission expenses and increased energy efficiency program costs, partially offset by a $32 million decrease in purchased power costs[252]. - Total operating expenses for Q1 2025 were $3,011 million, compared to $2,675 million in Q1 2024, indicating a 12.5% increase[246][247]. - Total operating expenses increased by $34 million, with purchased power costs rising by $50 million, offset by a $37 million decrease in other operating expenses[420]. - Total operating expenses for transmission increased by $1 million, primarily due to higher depreciation expenses[425]. Regulatory and Compliance - The Ohio Companies requested a net increase in base distribution revenues of approximately $94 million, reflecting a 1.5% average residential monthly bill increase[242]. - The company is engaged in settlement discussions regarding its pending base rate case, with evidentiary hearings scheduled for May 5, 2025[243]. - The PUCO approved the Ohio Companies' reinstatement of the DCR rider with an annual revenue cap of $390 million[350]. - The EPA announced its intent to reevaluate numerous environmental regulations, which could materially impact FirstEnergy's operations and compliance strategies[385]. - FirstEnergy is involved in ongoing litigation regarding the Good Neighbor Plan, with the Supreme Court granting a stay pending further review[388]. Investments and Projects - The Valley Link project, with approximately $3 billion in investments, was selected by PJM for new and upgraded transmission infrastructure[236]. - JCP&L's proposal for offshore wind transmission infrastructure includes approximately $723 million in investments, projecting an investment ROE of 10.2%[346]. - The EnergizeNJ program proposed by JCP&L has an estimated cost of approximately $935 million over five years, with $906 million allocated for capital investments[348]. - FE PA's application for the 2025-2029 phase of its LTIIP program is expected to result in approximately $1.6 billion in investments, with $1.4 billion going into service during the five-year period[367]. Cash Flow and Liquidity - FirstEnergy reported net cash provided from operating activities of $637 million for the first three months of 2025, a significant increase compared to a net cash used of $40 million in the same period of 2024[313]. - Cash used for investing activities increased by $223 million to $1.093 billion in the first three months of 2025, primarily due to capital investments[314]. - FirstEnergy's available liquidity from external sources as of April 28, 2025, was approximately $4,735 million, including cash and cash equivalents[298]. - FirstEnergy had $1,635 million in outstanding short-term borrowings as of March 31, 2025, compared to $550 million as of December 31, 2024[298]. Environmental and Regulatory Liabilities - FirstEnergy recorded a $139 million increase in its Asset Retirement Obligation (ARO) during 2024 due to regulatory changes related to coal ash disposal[399]. - Total environmental liabilities accrued by FirstEnergy as of March 31, 2025, amount to approximately $98 million, with $69 million allocated for environmental remediation in New Jersey[400]. - The EPA's proposed rule to reduce GHG emissions from fossil fuel-based electric generating units was finalized on April 25, 2024, with 25 states, including West Virginia, challenging it in the D.C. Circuit[391]. - Compliance with the 2024 ELG rule may require additional capital expenditures or operational changes at Fort Martin and Harrison power stations, as the EPA is reconsidering the rule[396]. Corporate Governance and Legal Matters - FirstEnergy agreed to a three-year Deferred Prosecution Agreement (DPA) with the U.S. Attorney's Office, involving a $230 million criminal monetary penalty[403]. - The company is currently involved in multiple lawsuits related to allegations of misrepresentation and is likely to incur losses, although the exact amount is not yet estimable[404][405]. - The company has successfully completed its obligations under the DPA as of July 22, 2024, and continues to cooperate with ongoing investigations[403].

Compliance Leader Verification™ recognizes organizations with an outstanding commitment to achieving a superior ethics and compliance programCompany's Vice President and Chief Ethics and Compliance Officer Antonio Fernández honored with Business Ethics Leadership Alliance's Beacon AwardAKRON, Ohio, April 30, 2025 /PRNewswire/ -- Reflecting its core values and commitment to ethics and integrity, FirstEnergy Corp. (NYSE: FE) has earned Compliance Leader Verification for 2025-2026 from Ethisphere, a global lea ...

FirstEnergy Corp. (NYSE:FE) Q1 2025 Earnings Conference Call April 24, 2025 9:00 AM ET Company Participants Karen Sagot - VP, IR Brian Tierney - President CEO and Chairman Jon Taylor - SVP Strategy and CFO Conference Call Participants Michael Lonegan - Evercore ISI Nick Campanella - Barclays Jeremy Tonet - JPMorgan David Arcaro - Morgan Stanley Carly Davenport - Goldman Sachs Bill Appicelli - UBS Andrew Weisel - Scotiabank Anthony Crowdell - Mizuho Securities Operator Hello, and welcome to the FirstEnergy C ...

Core Points - JCP&L will invest over $202.5 million to upgrade its electric distribution grid, starting July 1, with a focus on automation and remote control devices [1] - The EnergizeNJ program will see JCP&L invest an additional $132 million in matching projects, including $18 million for coastal substations and $9 million for mobile substations [2] - The total bill impact for a typical residential customer will be $0.86 per month, or 0.6%, with potential federal funding to offset costs [3] - EnergizeNJ is part of a larger $28 billion grid evolution program, Energize365, aimed at enhancing reliability and accommodating future energy demands [4] - JCP&L serves 1.1 million customers across multiple counties in New Jersey [5] - FirstEnergy operates one of the largest investor-owned electric systems in the U.S., serving over six million customers across several states [6] Investment Initiatives - A Grid Modernization initiative will invest over $20.4 million to replace solid fuses with TripSaver II devices for improved line re-energization [8] - A System Resiliency program will allocate more than $128.9 million to optimize circuits and install remotely controlled circuit ties for enhanced reliability [8] - Substation Modernization programs will upgrade protection relays and install modern devices for better data on substation equipment [8]