FirstEnergy CEO: Investing in transmission grid as data center demand rises

Load Growth & Grid Investment - First Energy anticipates significant load increases due to data centers and electrification, necessitating investment in the transmission grid [2] - The company plans to increase its 5-year capital expenditure (CAPEX) plan for transmission by approximately 30% [3] - A strong and growing transmission grid is crucial to support AI, data centers, and chip investments [3] Labor Force & Training - First Energy is addressing labor needs through apprenticeship programs and hiring experienced line workers [5] - The company is actively training its workforce to support infrastructure investments and economic growth [5] Investment & Demand - First Energy ensures that hyperscalers and data center developers commit to paying for infrastructure investments to serve them [7] - This commitment provides confidence in sustained load and prevents existing customers from bearing the cost of potential overbuilding [7] Electricity Prices & Regulation - Generation accounts for 85% of the year-over-year increase in customer bills in four of First Energy's five states, where it operates as a wires-only company [9] - In the state where First Energy is fully integrated, year-on-year rates for customers were flat [9] - First Energy is working with regulators, governors, and customers to mitigate the impact of increasing generation costs [10]